29th Aug 2024 20:06
essensys PLC - London-based provider of software and cloud services for the flexible workspace industry - Expects to report GBP24.0 million in revenue, a would-be 5.1% decrease from GBP25.3 million a year prior. Projects adjusted loss before interest, taxes, depreciation, and amortization of at most GBP900,000, narrowed from GBP6.1 million loss last year. At July 31 had cash of GBP3.1 million, down 11% from GBP3.5 million at December 31. Notes all customers upgraded from Connect offering to pure-play software as a service product essensys Platform. "This evolution of our proposition and the launch of new functionality, such as essensys Platform Intelligence Engine, continues to improve our revenue mix and is expected to improve gross margins going forwards", company adds. Further, says Greg Price to take over as chief financial officer effective October 14 following resignation of CFO Sarah Harvey announced August 1. Price has been CFO of software and technology business Checkit PLC since 2021. Checkit in July said Price would leave that role in September "to pursue opportunities outside the group".
essensys Chief Executive Officer Mark Furness says: "Whilst market conditions remain challenging, with continued pressure on capex budgets, our evolved proposition and ability to deploy essensys Platform over existing networks is helping to lower entry costs for our customers and the recent release of our latest addition to essensys Platform, Intelligence Engine, is helping to further differentiate our offer and meet growing customer demand for data and insight."
Current share price: 34.70 pence
12-month change: up 22%
By Aidan Lane, Alliance News reporter
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