ActiveOps PLC on Wednesday said it anticipates revenue in its first financial half to increase, boosted by software as a service and new customer wins.
The Reading, England-based management process automation software provider for back-office operations said in the six months to September 30, it expects revenue to grow by about 6.5% to £13.1 million from £12.3 million a year prior.
Further, it expects earnings before interest, tax, depreciation and amortisation to climb significantly. Software-as-a-service revenue climbed 7% annually, with exit annual recurring revenue up 7.2% to £23.7 million from £22.1 million.
Cash as at September 30 stood at £9.9 million, down 10% from £11.0 million a year prior.
Hailing that it is winning over new customers, ActiveOps said it is ‘seeing customer appetite to take new product continuing to build. The launch of ControliQ Series 3, with its AI-based features, has been particularly well received by customers. Our product teams are harnessing the latest advances in technology to help our customers better organise, see capacity clearer and ultimately improve performance for their own customers.’
Chief Executive Officer Richard Jeffery noted growth against all of the company’s key performance indicators, as well as ‘good levels of renewals, and a healthy pipeline, we remain on track for a full year in line with Board expectations.’
The company plans to release its half-year results on November 14.
ActiveOps shares were 1.9% higher at 81.50 pence each on Wednesday afternoon in London.
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