Blue Prism reports full-year pretax loss, surge in software deals
Source - SMW
Blue Prism reported a full-year pretax loss of £8.3m which was wider than the £4.7m loss reported a year ago.
EBITDA losses for the period were £9.4m versus £5.2m FY16 and adjusted EBITDA losses for the period were £8.3m versus £4.7m FY16.
The loss comes despite a 155% rise in revenue to £24.5m versus £9.6m in FY16 after the company reported a surge in software deals. The uptick in software deals was mainly driven by new customers additions, upsells, and renewals.
324 new customers (FY16: 96), 264 upsells across 131 customers (FY16: 81 upsells across 47 customers), 21 renewals (FY16: 12 renewals).
'The significant sales momentum we have seen this year and the 609 software deals we have signed - more than three times the number signed in the prior year - underscores our confidence in our product and the market's readiness to engage in the potential of RPA,' Blue Prism said.
The company expanded its customer base to 477 versus 153 FY16, and furthered its international expansion.
US customer base grew to 135 versus 26 FY16, with 109 new customers versus 18 FY16, 63 upsells versus 19 FY16 and 3 US renewals versus 0 FY16.
Emerging geographies grew fast, with APAC customer base now at 52 versus 3 FY16. Sales and services operations opened in Japan, Australia and India.
Alastair Bathgate, CEO, said: 'these results show just how far we have come in a short period of time.'
'The Group has had a strong start to the first quarter of FY18 and as such now expect revenues for the full financial year to be comfortably ahead of existing market expectations.'
At 9:44am: (LON:PRSM) Blue Prism Group Plc share price was -4p at 1346p