16th Jan 2019 11:34
LONDON (Alliance News) - Actual Experience PLC said Wednesday revenue trebled in 2018 financial year after first large-scale customer deployment of analytics service.
In its financial year ended September 30, the company posted revenue of GBP1.1 million, up sharply from GBP364,832 revenue in the year before.
The company signed its first two full-scale deals, sourced from customers of its channel partners, in the year. One of these contributed significantly to revenue in the year, and the other is set to contribute to the company's 2019 financial year.
The company's annual recurring revenue on September 30 stood at GBP1.6 million, widening to GBP1.8 million in December.
Actual Experience's pretax loss narrowed to GBP7.3 million from GBP7.9 million as a result of this revenue gain. Cash balance at the end of September totaled GBP10.8 million.
"We are confident that these initial deployments will serve as the start of a growing pipeline of deals and expect to see the number and rate of deployments increase gradually throughout [financial 2019], bringing another year of increased revenue and laying down annual recurring revenue for the years to come," said Actual Experience Chief Executive Dave Page.
Shares in Actual Experience were untraded at 210.00 pence on Wednesday.
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