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

ActiveopsAnnouncement

17/10/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241017:nRSQ5012Ia&default-theme=true

RNS Number : 5012I  ActiveOps PLC  17 October 2024

17 October 2024

ActiveOps plc

("ActiveOps" or the "Company")

Trading Update

and Notice of Half Year Results

 

ActiveOps plc (AIM: AOM), a leading provider of Decision Intelligence for
service operations, today provides an update on trading for the six months
ended 30 September 2024. The Board is pleased to report that the Company has
delivered good revenue and profit growth in the first half of the year and is
trading in line with full year expectations.

FY25 H1 Financial Highlights

The Group expects to report overall revenue growth of approximately 9%, or 11%
on a constant currency basis ("CC"), to £14.3m (H1 2024: £13.1m), including
10% growth in SaaS revenue (11% on a CC basis) to £13.0m (H1 2024: £11.8m).
ARR increased 11% (12% on a CC basis) to £26.2m (30 September 2023: £23.7m),
and NRR increased to 108% (H1 2024: 104%). With this solid revenue
performance, the Group expects to deliver EBITDA growth for the half and an
increase in profit before tax.

ActiveOps remains well capitalised and highly cash generative, with cash and
cash investments at the period end of £13.4m (H1 2024: £9.9m).

FY25 H1 Operational Highlights

The Company's international land & expand focused growth strategy
continues to deliver results, with the Group securing three new logo wins in
the half, two of which include significant expansion potential, and several
major contract expansions, including multiple upsells of the recently launched
ControliQ Series 3. While enterprise sales cycles remain elongated in some
regions, with elections and other macro factors continuing to slow down
decision making processes, the performance has been particularly strong in
Canada and the APAC and Africa regions.

ActiveOps continues to see good levels of demand across its product set, as
the need for efficient and cost-effective operations coupled with high levels
of employee satisfaction remain top priorities for its customers. The ability
of ActiveOps' products to blend AI and human intelligence with information
drawn from other enterprise applications to deliver powerful insights is
resonating more than ever.

ControliQ Series 4 is on track to launch in early 2025, with further advanced
AI capabilities embedded in the platform, and the Group has seen record
attendance levels at its global customer conferences in October, at which
these offerings were showcased.

In our FY24 results statement released in July 2024, we announced our
intention to make focussed investment in our global sales operation. This
commenced in the half and is progressing well, with five new team members
joining towards the end of the period and further investment expected in H2.
Revenue growth is expected from this investment from H2 FY26.

Notice of Results

The Company intends to announce its results for the six months ended 30
September 2024 on 14 November 2024.

ActiveOps Executive Chair, Richard Jeffery commented: "ActiveOps continues to
deliver for our customers, and I am pleased with the progress achieved so far
this year. AI has the potential to transform service operations, and our
platforms and people are at the forefront of making that a reality for our
customers. While cognisant of the ongoing challenging market environment, the
strength of our offering, customer base and balance sheet provide us with the
confidence to invest in our sales team as we seek to accelerate our organic
growth rate, and we remain focused on converting the opportunity at hand."

For more information, please contact:

 ActiveOps                                              Via Alma
 Richard Jeffery, Executive Chair                       www.activeops.com (http://www.activeops.com/)
 Emma Salthouse, Chief Financial Officer

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

 Alma Strategic Communications                          + 44(0) 203 405 0205
 Caroline Forde / Will Ellis Hancock / Louisa El-Ahwal

 

About ActiveOps

ActiveOps is a Software as a Service business, dedicated to helping
organisations create MORE value from their service operations. ActiveOps'
Decision Intelligence software solutions are specifically designed to support
leaders with the vast number of decisions they make daily in the name of
running their operations. Our customers make better decisions and consume less
time and effort making them. The outcomes are significantly improved
turnaround times and double-digit improvements in productivity with backlogs
of work materially reduced. Customers also leverage the capacity created to
invest in transformation and development, as well as to reduce levels of new
recruitment.

The Company's AI-powered SaaS solutions are underpinned by 15+ years of
operational data and its AOM methodology which is proven to drive cross
department decision-making.

The Company has over 180 employees, serving a global customer base of
enterprise customers from offices in the UK, Ireland, USA, Canada,
Australia, India, and South Africa. The Group's customers are predominantly
in the banking, insurance, healthcare administration and business process
outsourcing (BPO) sectors, including Nationwide, TD Bank, Elevance and DXC
Technology.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTEAXEKFEFLFFA