25 October 2022

ActiveOps plc

("ActiveOps" or the "Company")

Trading Update

and

Notice of Half Year Results

Sustained growth and positive profit trajectory

ActiveOps plc (AIM: AOM), a leading provider of Management Process Automation (MPA) software for running hybrid and global back-office operations, today provides an update on trading for the six months ended 30 September 2022.

The Board is pleased to report continued growth in the first half of FY23, with the Group trading in line with its expectations and on target to turn run rate EBITDA positive at the end of this current financial year. The Company continues to expand its customer base and benefit from its high recurring revenues, strong gross margins and strong balance sheet.

SaaS revenues in the period were up approximately 14%, driving a 12% growth in exit Annual Recurring Revenue (ARR) to £22.1m (September 2021: £19.8m), providing a strong basis for the full year expected performance. The Group expects to report overall revenue growth of approximately 7% (H1 2021: £11.5m), and a stronger than expected profit performance marginally above breakeven at the adjusted EBITDA level (H1 2021: loss (£0.2m)), largely reflecting the positive impact of currency movements in the period.

Cash and cash equivalents as at 30^th September 2022 was £11.0m (Sept 2021: £10.9m)

The first half saw the signing of new WorkiQ and ControliQ customers, alongside substantial expansion deals, across the ActiveOps product offering and territories, as the Group continues to execute its land & expand sales strategy. Meanwhile, the Group's third offering, CaseworkiQ, was successfully launched and has shown to be highly applicable across the existing customer base, contributing to the growth in ARR and creating further upsell opportunities.

The Group has continued the development of its product suite, with a focus on the introduction of machine learning based capabilities, as ActiveOps seeks to provide its customers with increasingly dynamic and sophisticated tools that are able to help manage the growing complexity of the back-office.

Notice of Results

The Company intends to release results for the six months ended 30 September 2022 on 29 November 2022.

Richard Jeffery, Chief Executive Officer of ActiveOps plc, commented, "As the reality of the post COVID-19 work environment is fully realised, the need for our solutions continues to grow and resonate with our expanding, global, blue-chip customer base. With products that are more relevant than ever, high levels of recurring revenue and a robust balance sheet, we are well placed to mitigate potential economic headwinds while continuing to invest in the business and execute our growth plans."

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About ActiveOps

ActiveOps is a leader in Management Process Automation (MPA), providing a SaaS platform to large enterprises with complex and often global back-offices. The Group's software and embedded back-office operations management methodology enables enterprises to adopt a data-driven, scientific approach to organising work and managing capacity.

The Group's enterprise platform comprises its MPA software products and AOM, the Group's operations methodology and framework for effective back-office management. Together, this combination of software and embedded methodology enables operations managers to balance the competing priorities of meeting service and quality standards while improving productivity and reducing cost.

As at 31 March 2022, the Group has 190 employees, serving its global customer base of approximately 80 enterprise customers from offices in the UK, Ireland, USA, Australia, India and South Africa. The Group's customers are predominantly in the banking, insurance and business process outsourcing (BPO) sectors, including Nationwide, TD Bank, Anthem Inc and DXC Technology.