IQGeo Group PLC on Thursday said it expects to report a ‘strong’ performance for the first half of 2022, in line with expectations, amid new customer wins.
Shares were up 2.0% at 140.72 pence each on Thursday morning in London.
IQGeo is a Cambridge, England-based geospatial productivity and collaboration software company focused on the telecoms and utility industries.
For the six months that ended June 30, revenue is expected to have grown by more than 39% on an all-organic basis to exceed £8.9 million, compared to £6.4 million a year before.
Gross margin is expected to have been 60% in the first half, a slight slip from 63% a year ago. But adjusted earnings before interest, tax, depreciation and amortisation is estimated £200,000, compared to a loss of £400,000 a year ago.
Total order intake has more than doubled to around £14.6 million from £7.1 million. This is due to ‘a number of new customers signing up for multi-year subscriptions, along with an increase in consultancy services orders obtained both from new and legacy customers,’ IQGeo explained.
Chief Executive Officer Richard Petti said: ‘We are very pleased with our first half performance which has been in line with our strategic milestones and clearly demonstrates our ability to deliver against our targets. Our ability to secure significant new contracts with blue-chip telecom operators highlights the quality of our offering and provides us with an increasingly solid foundation.’
Early last week, IQGeo said it had won a multi-year contract with ‘one of the largest’ US telecom network operators, which it didn’t name, worth an initial $3.6 million plus a service value of $2.1 million.
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