REG - ActiveOps PLC - Trading Update and Notice of Half Year Results

ActiveopsAnnouncement

25/10/2022 07:00

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RNS Number : 9406D  ActiveOps PLC  25 October 2022

25 October 2022

ActiveOps plc

("ActiveOps" or the "Company")

Trading Update

and

Notice of Half Year Results

 

Sustained growth and positive profit trajectory

 

ActiveOps plc (AIM: AOM), a leading provider of Management Process Automation
(MPA) software for running hybrid and global back-office operations, today
provides an update on trading for the six months ended 30 September 2022.

The Board is pleased to report continued growth in the first half of FY23,
with the Group trading in line with its expectations and on target to turn run
rate EBITDA positive at the end of this current financial year. The Company
continues to expand its customer base and benefit from its high recurring
revenues, strong gross margins and strong balance sheet.

SaaS revenues in the period were up approximately 14%, driving a 12% growth in
exit Annual Recurring Revenue (ARR) to £22.1m (September 2021: £19.8m),
providing a strong basis for the full year expected performance. The Group
expects to report overall revenue growth of approximately 7% (H1 2021:
£11.5m), and a stronger than expected profit performance marginally above
breakeven at the adjusted EBITDA level (H1 2021: loss (£0.2m)), largely
reflecting the positive impact of currency movements in the period.

Cash and cash equivalents as at 30(th) September 2022 was £11.0m (Sept 2021:
£10.9m)

The first half saw the signing of new WorkiQ and ControliQ customers,
alongside substantial expansion deals, across the ActiveOps product offering
and territories, as the Group continues to execute its land & expand sales
strategy. Meanwhile, the Group's third offering, CaseworkiQ, was successfully
launched and has shown to be highly applicable across the existing customer
base, contributing to the growth in ARR and creating further upsell
opportunities.

The Group has continued the development of its product suite, with a focus on
the introduction of machine learning based capabilities, as ActiveOps seeks to
provide its customers with increasingly dynamic and sophisticated tools that
are able to help manage the growing complexity of the back-office.

Notice of Results

The Company intends to release results for the six months ended 30 September
2022 on 29 November 2022.

Richard Jeffery, Chief Executive Officer of ActiveOps plc, commented, "As the
reality of the post COVID-19 work environment is fully realised, the need for
our solutions continues to grow and resonate with our expanding, global,
blue-chip customer base. With products that are more relevant than ever, high
levels of recurring revenue and a robust balance sheet, we are well placed to
mitigate potential economic headwinds while continuing to invest in the
business and execute our growth plans."

 

For more information, please contact:

 ActiveOps                                                Via Alma PR
 Richard Jeffery, Chief Executive Officer                 www.activeops.com (http://www.activeops.com/)
 Patrick Deller, Chief Financial Officer

 Investec Bank plc                                        +44 (0)20 7597 5970
 Corporate Broking & PLC Advisory
 Patrick Robb / David Anderson

 Alma PR                                                  + 44(0) 203 405 0205
 Caroline Forde / Lily Soares Smith / Will Ellis Hancock

 

About ActiveOps

ActiveOps is a leader in Management Process Automation (MPA), providing a SaaS
platform to large enterprises with complex and often global back-offices. The
Group's software and embedded back-office operations management methodology
enables enterprises to adopt a data-driven, scientific approach to organising
work and managing capacity.

The Group's enterprise platform comprises its MPA software products
and AOM, the Group's operations methodology and framework for effective
back-office management. Together, this combination of software and embedded
methodology enables operations managers to balance the competing priorities of
meeting service and quality standards while improving productivity and
reducing cost.

As at 31 March 2022, the Group has 190 employees, serving its global customer
base of approximately 80 enterprise customers from offices in the UK, Ireland,
USA, Australia, India and South Africa. The Group's customers are
predominantly in the banking, insurance and business process outsourcing (BPO)
sectors, including Nationwide, TD Bank, Anthem Inc and DXC Technology.

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