23rd Jul 2025 11:09
(Alliance News) - Skillcast Group PLC shares jumped on Thursday as it said it expects to report higher revenue for the first half of the year, driven by recurring subscription revenues.
The London-based digital compliance content and technology provider said it expects to report revenue of GBP7.5 million for the six months to the end of June, up 18% from GBP6.4 million a year ago.
In response, shares in Skillcast climbed 12% to 52.55 pence in London on Wednesday morning.
Skillcast said recurring subscription revenue increased 23% to GBP6.4 million from GBP5.2 million, while the share of revenue from subscriptions ticked up to 85% from 81%.
Revenue from non-strategic professional services, meanwhile, fell 8.3% to GBP1.1 million from GBP1.2 million.
Skillcast said its annual recurring revenue has increased by 22% over the 12 months to June, to GBP12.7 million from GBP10.4 million. ARR has grown by 9.5% since the start of 2025 to GBP11.6 million.
The company said the profit margin has continued to increase due to operational gearing, and that it continues to trade in line with full year expectations.
Skillcast said it has no debt and cash in bank of GBP11.5 million at the end of June, up 37% from GBP8.4 million at the end of 2024.
"Our continued ARR growth demonstrates the relevance and value of our [governance, risk and compliance] software and e-learning products to companies during a period of heightened economic uncertainty," said Chief Executive Officer Vivek Dodd.
He continued: "I remain confident of our medium-term revenue growth prospects and increasing profitability. We continue to see the opportunity to grow in all our market segments by helping companies to simplify their staff compliance."
By Michael Hennessey, Alliance News reporter
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