11th Jul 2023 11:27
(Alliance News) - Eagle Eye Solutions Group PLC on Tuesday said it delivered revenue and adjusted earnings growth ahead of expectations in the year ended June 30.
Eagle Eye is a London-based software-as-a-service technology company that creates digital connections enabled personalised and real-time marketing. Shares in the firm were up 1.5% at 563.05 pence on Tuesday in London.
The company said revenue in the year ended June 30 totalled GBP43.1 million, up 36% from GBP31.7 million the year prior. On an organic basis, revenue was up 29% year-on-year.
Adjusted earnings before interest, tax, depreciation and amortization totalled GBP8.6 million. This was up 32% from GBP6.5 million the year prior. Eagle Eye said this growth in profit was driven by strong cash generation which provided the company with the ability to invest to support its growth.
The company said it continues to benefit from high levels of recurring revenue, providing a strong basis for a continued positive performance. It expects to report good growth in annual recurring revenue and a continued strong net revenue retention metric.
"Eagle Eye enters the new financial year in a very strong position, with a growing presence in North America and Australasia, alongside its long-standing European customers," the company said.
"The acquisition of Untie Nots has provided an additional channel for growth, as well as bringing valuable AI capabilities into the group. Together with the group's growing ARR, profitability and cash generation, the board, therefore, looks to the future with confidence."
Eagle Eye expects to announce its full-year results on September 19.
By Heather Rydings, Alliance News senior economics reporter
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