SKILLCAST GROUP PLC (SKL) — Interim Results

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the SKILLCAST GROUP PLC investor presentation. Throughout this quarter presentation, investors will be in listen only mode. Questions are encouraged and can be dismissed at any time. For the q and a tab, situate in the right corner of your screen, just simply type in your questions and press send. The company may not be in a position to answer every question received in the meeting itself. However, the company can review all the questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand you over to Vivek Dodd, CEO. Good afternoon to you, sir. Thank you, Alessandro. Let me just introduce myself. I'm the CEO of the company. I was one of the cofounders many years ago. And with me today is Richard Steele, who is our CFO. I'll just take a few minutes to cover the financial and operational highlights and then I'll hand over to Richard to go in deeper into the details. So here you see that we've had a first good very good first half of the year with ARR growing, getting back into profitability and generating very strong cash flow. We had a 100% retention rate during this half and the ARR growth came entirely from adding new subscription clients. Subscription revenues grew by 35% year on year. The total revenues grew a bit less at 24 percent that's due to the performance of our non core professional services. Richard will talk a bit more about that in his part. The recurring subscription revenue therefore are now accounting for over 80% of our revenues. Also notably in this half, we managed to limit the overhead growth to 99% and got back into profitability. And that difference between the revenue and the cost growth that you see there demonstrate...