Trading Update

27 November 2018

Blue Prism Group plc

("Blue Prism" or the "Group")

Trading update

Blue Prism (AIM:PRSM), a global leader in Robotic Process Automation ("RPA"), today provides a trading update following the close of its financial year ended 31 October 2018.

The Board is pleased to report that the strong sales momentum seen in the first half of 2018 has continued, with a strong second half, particularly in the fourth quarter.

The total number of software deals secured during the 2018 financial year is 1,359 (FY17: 609), consisting of 528 customer additions (FY17: 324), 723 upsells across 310 customers (FY17: 264 upsells across 131 customers) and 108 renewals (2017: 21). The total customer base at the end of 2018 closed at 992 (2017: 477).

This commercial progress means that the Board expect to report revenue for the year ended 31 October 2018 slightly ahead of expectations. The EBITDA loss1 is expected to be larger than current expectations due to continued investments into the Group's growth strategy and increased sales commissions arising from the strong fourth quarter. Cash generation for the year ended 31 October 2018 has remained strong and as such net cash at 31 October 2018 is expected to be higher than the Board's expectations.

The Board is encouraged by the exit monthly recurring revenue generated by the sales momentum in the financial year ended 31 October 2018, and as a result, expects revenue for the 2019 financial year to be comfortably ahead of expectations. It is the intention of the Board to continue to prioritise investment for continued growth, and as such they currently expect EBITDA losses1 for the 2019 financial year to exceed those in the 2018 financial year.

Blue Prism will report its financial results for the year ended 31 October 2018 on Thursday, 24 January 2019.

Alastair Bathgate, Chief Executive Officer, commented:

"I am very pleased with the progress we have made in 2018 and the results we are set to deliver. It is a reassuring sign that our strategy to invest in growth during this phase of Blue Prism's evolution is the right one, in order to create long term value for our shareholders."

For further information please contact:

Blue Prism Group plc

Tom Hull, Head of Investor Relations +44 (0)77 3670 7407

Investec Bank plc +44 (0)20 7597 5970

Andrew Pinder

Sebastian Lawrence

Carlton Nelson

FTI Consulting +44 (0)20 3727 1000

Matt Dixon

Dwight Burden

Notes:

1. Adjusted to exclude share-based payments

About Blue Prism

Blue Prism Group plc ("Blue Prism" or the "Group"), is a UK-headquartered global software company.

As the pioneer, innovator and a market leader in Robotic Process Automation (RPA), Blue Prism delivers the world's most successful Digital Workforce. The company's Digital Workers (software robots) provide business leaders with new operational capacity and intelligent skills to automate repetitive administrative tasks, while meeting the requirements of the most demanding IT environments, where security, compliance and scalability are paramount.

Blue Prism provides a scalable and robust execution platform for best-of-breed AI and cognitive technologies and has emerged as the trusted and secure RPA platform of choice for our customers. Billions of transactions and hundreds of millions of hours of work are executed on Blue Prism robots from renowned companies including Aegon, BNY Mellon, Coca-Cola, Commerzbank, IBM, ING, Maersk, Nokia, Nordea, Procter & Gamble, Raiffeisen Bank, Siemens, Westpac and Zurich. As at 30 April 2018, Blue Prism had 271 employees based out of offices in Newton le Willows and London (UK), Sydney (Australia), Tokyo (Japan), Bangalore (India), Austin, Miami, Chicago, New York and San Francisco (US), Munich (Germany), Paris (France) and Singapore. 

For more information visit www.blueprism.com and follow the Group on LinkedIn and Twitter.