25th Oct 2022 13:42
ActiveOps PLC - Reading, England-based management software firm - In the six months to September 30, says trading in line with expectations, and on target to swing to positive run rate earnings before interest, tax, depreciation and amortisation by the end of the financial year. "The company continues to expand its customer base and benefit from its high recurring revenues, strong gross margins and strong balance sheet," the company says. Software-as-a-service revenue rose 14% year-on-year during the period, which helped to drive a 12% jump in annual recurring revenue to GBP22.1 million. It now expects to report overall revenue growth of 7% in the first half from GBP11.5 million the year before. It anticipates a "stronger than expected" earnings performance, with adjusted Ebitda to be "marginally above" breakeven, compared to a loss of GBP200,000 the year before. This largely reflects favourable currency movements, it says. Read More
