Business
Trading and Patent Case Updates
Trading and Patent Case Updates.
About this update from Pci-pal Plc
[{"type":"text","content":"\n\nPCI-PAL PLC\n(\"PCI Pal\", \"the Company\" or \"the Group\")\n \nTrading and Patent Case Updates\n \nPCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions for business communications, is pleased to provide a trading update for the current financial year ending 30 June 2023 (\"FY23\"), and an update regarding the ongoing patent case with one of its competitors.\n \nTrading Update\n \nSince the half year, PCI Pal has achieved continued strong momentum with excellent performance across its key metrics. The Board is particularly pleased with the strength of its global sales pipeline which is driving an acceleration in new business sales in the second half of the year. New ACV for the Group year to date is now at £3.4 million, with a strong outlook to the financial year end which will help to further underpin revenue growth in FY24.\n \nThe strength of the Company's channel partner strategy is reflected in 86% of these new contracts having come through PCI Pal's market leading partner eco-system. Additionally of note is that £3.0 million (87%) of the new business signed is from new customers to the Group which is a pleasing 34% increase compared to the same period last year. \n \nHighlight new customer contracts won in the second half include a number of enterprise deals in the US where the Group has experienced accelerated growth of its sales pipeline throughout FY23. These wins include a major contract with a Fortune 50 healthcare provider, as well as another new enterprise contract with one of the largest electronics companies in the world. Further to the US progress, the Board is pleased to report that the Company has also signed its largest contract to date in Australia, with a well-known global insurer.\n \nPatent Case Update\n \nPCI Pal disrupted the secure payments market for contact centres by bringing true public cloud capabilities to the space. PCI Pal's patented cloud deployment methods have empowered light-touch, cost effective access to its products and services, which was something not seen before in a market historically burdened by legacy hardware solutions.\n \nToday PCI Pal has the most mature global cloud offering in the market and has delivered the strongest growth momentum of any company in the space for a number of years....