REG - LoopUp Group PLC - Results for the year ended 31 December 2022
07/06/2023 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230607:nRSG8746Ba&default-theme=true
RNS Number : 8746B LoopUp Group PLC 07 June 2023
7 June 2023
LOOPUP GROUP PLC
("LoopUp Group" or the "Group")
Unaudited preliminary results for the year ended 31 December 2022
Significant uplift in Q4 revenue run-rate and strong Cloud Telephony traction
LoopUp Group plc (AIM: LOOP), the cloud platform for premium hybrid
communications, is pleased to announce its preliminary unaudited results for
the year ended 31 December 2022.
Financial Highlights:
£ million FY-22 H1-22 FY-21
(unaudited) (unaudited) (audited)
Revenue 16.5 6.6 19.5
Gross margin 69% 67% 69%
Adjusted EBITDA(1) (0.9) (1.5) 1.2
Group operating loss(2) (8.0) (5.1) (6.1)
Period end gross cash 1.7 0.7 5.5
Period end net debt 5.8 8.0 2.4
Operating Highlights:
· Group revenue run-rate:
- 166% growth in Group quarterly revenue run-rate from £2.7 million in Q3-22
to £7.2 million in Q4-22 following the PGi Connect agreement announced in
September 2022
· Cloud Telephony:
- 169% growth in customers from 29 at end FY21 to 78 at end FY-22
- 227% growth in contracts from 51 contracts at end FY21 to 167 at end FY-22
- 188% growth in Booked ARR(3) from £0.57 million at end FY21 to £1.65
million at end FY-22
- Zero gross churn in FY-22 and Net Revenue Retention (NRR)(4) of 159%
· Meetings and Virtual Events:
- c.7,000 new customers transitioned to LoopUp Meetings under the PGi Connect
transaction
Post Period Highlights
· Preliminary Q1-23 Group revenue of c.£6.5 million
· Booked Cloud Telephony ARR has increased to c.£2.50 million, an increase of
51% from £1.65 million at the end of FY22, and a year-on-year increase of
215% from £0.8 million at the end of May 2022
· LoopUp has been certified onto Microsoft's Operator Connect partner program
with Cloud Telephony service availability in 48 countries, the broadest
geographic coverage amongst all c.65 global partners in the Operator Connect
program
· Scheduled repayment of £0.85 million in June 2023 reduces outstanding debt
with Bank of Ireland to £6.0 million (31 Dec 2022: £6.8m)
Number of customers Number of Individual Contracts Booked ARR (£ million)
At end FY-21 29 51 0.57
FY-22 increase from base at end FY-21 42 0.34
FY-22 increase from new customer wins 49 74 0.74
At end FY22 78 167 1.65
YTD-23 increase from base at end FY-22 61 0.40
YTD-23 increase from new customer wins 22 28 0.45
Current 100 256 2.50
Outlook
· Notwithstanding the expected continued decline in its Meetings business, the
Group is confident both in its ability to deliver continued strong growth in
its primary Cloud Telephony business and in its ability to meet FY-23 market
expectations.
· The Group's outstanding debt with Bank of Ireland is due for repayment,
extension or refinancing in September 2023.
Outlook
·
Notwithstanding the expected continued decline in its Meetings business, the
Group is confident both in its ability to deliver continued strong growth in
its primary Cloud Telephony business and in its ability to meet FY-23 market
expectations.
·
The Group's outstanding debt with Bank of Ireland is due for repayment,
extension or refinancing in September 2023.
Steve Flavell and Michael Hughes, co-CEOs of LoopUp Group, commented:
"We are delighted to have finished last year and entered this year strongly on
two fronts. First, we have seen a material jump in revenue run-rate and cash
generation delivered from the PGi Connect agreement. Second, we have achieved
strong commercial traction in our primary Cloud Telephony growth business.
Cloud Telephony is a $31 billion(5) and growing market opportunity. We believe
the combination of our technology assets built over 20 years, together with
our team's expertise transcending software, telecommunications, and unified
communications, positions the Group with material differentiation and barriers
to entry for our multinational Cloud Telephony strategy."
(1) Earnings before interest, tax, depreciation, and amortisation, excluding
share-based payments charges
(2) Adjusted to exclude amortisation of acquired intangibles and share-based
payment charges
(3) Booked Annual Recurring Revenue: minimum contracted annual revenue during the
initial term of the customer contract
(4) NRR is calculated as the ratio of booked ARR at the end of FY22 to booked ARR
at the end of FY21 from the cohort of customers in place at the end of FY21
(5) Source: Gartner 2023
Market abuse regulation:
This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018.
LoopUp Group plc via FTI
Steve Flavell, co-CEO
Panmure Gordon (UK) Limited +44 (0) 20 7886 2500
Dominic Morley / Ivo Macdonald (Corporate Finance)
Cenkos Securities Limited +44 (0) 20 7397 8900
Giles Balleny / Dan Hodkinson (Corporate Finance)
Alex Pollen (Sales)
FTI Consulting, LLP +44 (0) 20 3727 1000
Matt Dixon / Jamille Smith / Tom Blundell
About LoopUp Group plc
LoopUp (LSE AIM: LOOP) is a cloud platform for premium hybrid communications.
The Group's flagship Cloud Telephony solution for Microsoft Teams enables
multinational enterprises to consolidate their global telephony provision into
a single, consistently managed cloud implementation rather than disparate
implementations from multiple carriers. The Group is listed on the AIM market
of the London Stock Exchange and is headquartered in London, with offices in
the US, Spain, Germany, Hong Kong, Barbados and Australia. For further
information, please visit: www.loopup.com (http://www.loopup.com) .
Chief Executive Officers' Business Review
Continued execution on our strategic transition
Commercially, the Group turned a corner during FY-22, following a challenging
transition period since the COVID-19 pandemic. We made strong commercial
progress in our primary Cloud Telephony business and benefitted from a
material injection of new business into our otherwise generally declining
Meetings business.
On the surface, Group revenue of £16.5 million marked a 15% reduction from
£19.5 million in FY-21. However, we saw a material improvement in the second
half of the year with £9.9 million revenue in H2-22 compared to £6.6 million
revenue in H1-22 (£8.0 million in H2-21). More precisely, the change in
run-rate hit in October 2022 following the 'Revenue Sharing and Customer
Transfer Agreement' with PGi Connect. This saw more than 7,000 customers
transition from PGi Connect onto the LoopUp Meetings platform, and a 167%
increase in Q4-22 revenue over Q3-22 as a result.
While our now materially larger Meetings business will inevitably continue to
decline over time in the face of customers switching to broader UC platforms
such as Microsoft Teams, our Meetings business nevertheless represents a
valuable source of cash generation to fund the growth of our relatively young,
but fast-growing and exciting Cloud Telephony business that we launched in
September 2020.
We achieved strong commercial progress in Cloud Telephony during FY-22 with
triple digit growth in both customer numbers and booked Annual Recurring
Revenue (ARR). Furthermore, Microsoft has since certified our product onto its
Operator Connect partner program with differentiated country coverage of
regulated/licensed service provision over all of the c.65 certified
telecommunications partners globally. This has enhanced our proposition to
multinational target market customers and we have seen accelerating ARR growth
during FY-23 to date.
Strong commercial momentum in Cloud Telephony
The Group's flagship Cloud Telephony solution is integrated into Microsoft
Teams and enables users to make phone calls to external phone numbers and
receive phone calls to their own work phone numbers, all seamlessly via their
Teams-enabled devices. Our platform targets multinational mid-market and
enterprise organisations with the value proposition of consolidating their
global telephony procurement with one vendor partner - LoopUp - rather than
from multiple geographic-specific carriers.
Cloud Telephony now sits squarely at the heart of the Group's forward-looking
growth strategy, and we achieved strong operational progress and commercial
traction during FY-22. Customer numbers grew by 169%, a growth of 49 customers
from the 29 at the end of FY-21 to 78 at the end of FY-22.
Given the geographic rollouts generally associated with multinational customer
deployments, customer wins often comprise multiple individual contracts over
time. In FY-22, individual contract numbers grew from the 51 contracts with
the Group's 29 customers at the end of FY-21 to 167 with the Group's 79
customers at the end of FY-22, a growth of 116 contracts or 227%.
Booked ARR from these 78 customers stood at £1.65 million at the end of
FY-22, a 188% increase from £0.57 million at the end of FY-21. This
represents the minimum contractually guaranteed level of won ARR, and the
Group realistically expects the ARR from these 78 customers to progress to
c.£3.2 million as rollouts progress, materially above the minimum contracted
level.
Nearly all of the Group's Cloud Telephony customers are on 3-year initial term
licence contracts. To date, the Group is proud to have experienced zero gross
customer churn since entering the market and very strong Net Revenue Retention
(NRR). NRR was 159% in FY-22, this being the ratio of booked ARR at the end of
FY-22 to booked ARR at the end of FY-21 from the cohort of 29 customers in
place at the end of FY-21.
Late stage sales cycles in Cloud Telephony often involve a Proof of Concept
(POC), which enables prospective customers to test our technology in their own
IT environment. At the end of FY-22, our success rate in POCs stood at 95%,
with 19 out of 20 POC projects completed by the Group having successfully
converted into customer wins.
The Group maintains a strong pipeline of future Cloud Telephony sales
opportunities (c.£100 million ARR). We are confident in our continued Cloud
Telephony growth prospects and are excited by the traction and potential of
our differentiated multinational solution in this large Cloud Telephony
market, which is forecast to grow from £21.2 billion in 2022 to £31.4
billion by 2027(6).
Meetings and PGi Connect transaction
The Group's Meetings business remains structurally in decline, primarily due
to customers switching to Microsoft Teams meetings as part of a broader
unified communications strategy on that platform.
However, our Meetings business received a substantial boost in September 2022,
when the Group announced a 'Revenue Sharing and Customer Transfer Agreement'
with PGi Connect. The agreement gave LoopUp the rights to onboard materially
all of PGi Connect's conferencing services customers. While no initial or
fixed consideration was payable, the Group agreed to pay PGi Connect a share
of invoiced and received revenue(7) from successfully transferred customers
for a period of three years.
Since October 2021, LoopUp has transitioned approximately 7,000 former PGi
Connect customers onto its Meetings platform. This led to Meetings revenue
increasing from c.£2.7 million in Q3-22 to c.£7.2 million in Q4-22, an
increase of c.167%.
While this transitioned Meetings business is expected to decline over time, it
is nevertheless highly cash generative, with a gross margin of 65-70% (after
LoopUp COGS and PGi Connect revenue share) and just c.£0.3 million in
incremental quarterly staff and overheads costs.
Hybridium
Following the acquisition of SyncRTC Inc. in October 2021, the Group has since
rebranded this line of business to Hybridium (www.hybridium.com
(http://www.hybridium.com) ) as a hybrid events business. The solution is
focused on relatively large-scale corporate events that have a mix of in-room
and remote guests and/or a mix of in-room and remote hosts/presenters, such as
management onsites, departmental kick-offs, capital markets days and thought
leadership seminars.
Events with Hybridium's video wall technology benefit from ultra-low latency
at ultra-high resolution, with full video wall layout flexibility facilitating
any content on any section of the wall. In April 2022, Hybridium signed a
landmark deal with Telefónica, which has deployed the solution at its
'Universitas' global innovation and talent hub, located at its Madrid
headquarters in Distrito Telefónica.
The majority of 2022 product development time has been spent materially
reworking the platform from its legacy education focus to a next generation
version for large scale hybrid corporate training and events. The Group is
currently reviewing its go-to-market strategy with a view to the scalable
growth potential of this differentiated technology, and will make further
market announcements in due course.
Outlook
While the Directors expect the Group's Meetings business to continue to
decline over time, this is now from a materially larger base following the
transition of former PGi Connect customers. Combined with the fast and
accelerating growth in its primary forward-looking Cloud Telephony business,
the Directors are confident in the Group's ability to meet FY-23 market
expectations.
The Directors also draw attention to the Group's senior debt arrangements with
Bank of Ireland, where £6.8 million was outstanding at 31 December 2022
(c.£6.0 million following a repayment in June 2023) of an original principal
of £17 million borrowed in 2018. This debt facility comes around for
repayment, extension or refinancing in September 2023, and while the Directors
are confident in the Group's ability to do so, this is nevertheless a project
that needs to be successfully executed.
Steve Flavell Michael Hughes
co-CEO co-CEO
(6) Source: Gartner 2023
(7) Approximately 13% on a weighted average basis
ss
Chief Financial Officer's Review
During 2022, the Group has continued to make good progress in its strategic
transition towards hybrid communications and collaboration. The PGi Connect
agreement, which took effect from 1 October 2022, has significantly bolstered
the Group's financial position and returned the Group to a positive EBITDA
run-rate.
Operating Results
The Group's primary segment is LoopUp Platform Capabilities (LPC), which
includes Meetings, Virtual Events and Cloud Telephony. The structural decline
in the Meetings business that began in lockdown continued throughout FY-22.
The PGi Connect agreement brought a significant boost to Meetings and Virtual
Events revenue in Q4. In addition, the Cloud Telephony business grew 62% to
£1.2 million (FY-21: £0.74 million). As a whole, LPC revenue fell by 12% to
£13.0 million (FY-21: £14.8 million)., reflecting the historically stronger
Meetings business and the fact that the PGi Connect agreement only came into
effect in Q3-22.
The Group's revenue from Hybridium in the year was £0.6 million (2021 post
acquisition revenue: £0.2 million).
Revenue from low margin third party resale services declined by 32% to £3.0
million (FY-21: £4.4 million).
The Group's overall gross profit decreased by 15% to £11.4 million (FY-21:
£13.5 million), which reflects the reduction in revenue as gross margin
increased to 69.3% (FY-21: 69.0%). This slight improvement in margin
represents a significant shift in revenue mix away from the low margin resale
services, towards the higher margin Meetings and Cloud Telephony business.
The gross profit on LPC business fell by 16% to £9.8 million (FY-21: £11.7
million), at a lower gross margin of 75.9% (FY-21: 79.1%). The reduction in
margin is a result of the revenue share payable on PGi Connect transitioned
business (around 13% on amounts invoiced and paid by customers).
The administrative costs of the Group in 2022 were stable at £12.3 million
(FY-21: £12.3 million). This results from management's focus on cost control
as the nature of the Group's business continues to change. The modest increase
in staffing and overhead levels necessitated by the increased volume of
Meetings and Virtual Events activity arising from the PGi Connect agreement
has been successfully accommodated without increasing the overall cost-base of
the Group.
Assets and Cash Flows
The Group had an operating cash outflow after capital expenditure of £6.0
million (FY-21: £11.1 million). This was partly offset by the proceeds of a
placing in October 2022, which raised £3.1 million net of costs.
Net debt (ie total debt, less cash balances) has risen to £5.8 million as at
31 December 2022 (2021: £2.4 million).
In 2018, the Company entered into a term loan with Bank of Ireland for £17.0
million, which has since reduced to £6.8 million as at 31 December 2022
(balance at 31 December 2021: £6.8 million). During the year, the Group
successfully renegotiated and amended this senior debt with Bank of Ireland to
reflect the Group's ongoing strategic transition plan. Key elements of the
amended arrangements include:
· a holiday on planned principal repayments through to June 2023, representing
£1.7 million in aggregate deferred payments;
· a margin increase of 2.0 percent, taking the total interest rate to 4.5
percent above the Sterling Overnight Index Average (SONIA);
· an extension of the term through to September 2023;
· a revised set of financial covenants which are more concerned with sufficient
ongoing cash liquidity, EBITDA, and the growth objectives for Cloud Telephony;
· the Group's undrawn revolving credit facility of £1.5 million, which was
drawn in the year, was repaid, and terminated.
The loan matures in September 2023, and the Group is in the process of seeking
to refinance or extend this facility. Notwithstanding the fact that this has
not been successfully completed to date, the Board is confident that this will
be achieved.
Simon Sacerdoti
CFO
Unaudited Consolidated Statement of Comprehensive income
For the year ended 31 December 2022
2022 2021
Note £000 £000
Revenue 16,480 19,526
Cost of sales (5,060) (6,058)
Gross profit 2 11,420 13,468
Adjusted administrative expenses((i)) (12,287) (12,272)
Adjusted EBITDA((ii)) (867) 1,196
Depreciation (1,556) (1,760)
Amortisation of development costs (5,542) (5,582)
Adjusted operating loss ((iii)) (7,965) (6,146)
Exceptional reorganisation and tax charge (633) (392)
Exceptional impairment charge - (19,597)
Amortisation of acquired intangibles (1,849) (2,211)
Share-based payments charges (1,142) (2,208)
Operating loss (11,589) (30,554)
Finance costs (719) (465)
Loss before income tax (12,308) (31,019)
Income tax (406) 6,052
Loss for the year (12,714) (24,967)
Currency translation (loss) 209 (340)
Total comprehensive loss for the year attributable to the equity holders of (12,505) (25,307)
the parent
Loss per share (pence): 3
Basic (7.5) (39.0)
Diluted (7.5) (39.0)
(i) Total administrative expenses excluding depreciation, amortisation of
development costs and acquired intangibles, non-recurring transaction costs,
exceptional reorganisation costs, exceptional impairment charges and share
based payments charges.
(ii) Adjusted EBITDA is operating (loss) / profit stated before depreciation,
amortisation of development costs and acquired intangibles, non-recurring
transaction costs, exceptional reorganisation and tax charge, exceptional
impairment charges and share based payments charges.
(iii) Before amortisation of other intangible assets, non-recurring transaction
costs, exceptional reorganisation costs, exceptional impairment charges and
share based payments charges.
Unaudited Consolidated Statement of Financial Position
As at 31 December 2022
2022 2021
£000 £000
Assets:
Property, plant and equipment 1,626 2,368
Right of use assets 779 2,130
Development costs 12,896 12,726
Other intangible assets 4,020 5,638
Goodwill and other intangibles 35,425 35,425
Total non-current assets 54,746 58,287
Trade and other receivables 8,173 3,608
Cash and cash equivalents 1,661 5,465
Current tax 178 1,862
Total current assets 10,012 10,935
Total assets 64,758 69,222
Liabilities:
Trade and other payables (6,313) (3,384)
Accruals and deferred income (3,914) (2,036)
Lease liabilities (819) (956)
Borrowings (6,772) (1,700)
Total current liabilities (17,818) (8,076)
Net current (liabilities)/assets (7,806) 2,859
Non-current liabilities:
Borrowings (686) (6,181)
Lease liabilities (897) (1,463)
Deferred tax (1,851) (1,721)
Provisions (178) (172)
Total non-current liabilities (3,612) (9.537)
Total liabilities (21,430) (17,613)
Net assets 43,328 51,609
Equity
Share capital 881 485
Share premium 74,055 70,860
Other reserve 12,691 12,691
Foreign currency translation reserve (2,540) (2,749)
Share-based payment reserve 4,028 3,395
Retained loss (45,787) (33,073)
Shareholders' funds attributable to equity owners of parent 43,328 51,609
Unaudited Consolidated Statement of Changes in Equity
For the year ended 31 December 2022
Share capital Share premium Other reserve Foreign currency translation reserve Share-based payment reserve Retained profit / (loss) Shareholders funds/
(deficit) attributable to equity owners of parent
£000 £000 £000 £000 £000 £000 £000
As at 1 January 2021 277 60,677 12,691 (2,409) 1,354 (8,106) 64,484
Loss for the year - - - - - (24,967) (24,967)
Other comprehensive income - - - (340) - - (340)
Total comprehensive loss for the year - - - (340) - (24,967) (25,307)
Transactions with owners of parent in their capacity as owners:
Equity share-based payment compensation 4 163 - 2,041 - 2,208
-
Share issues 204 10,020 - - - - 10,224
As at 31 December 2021 485 70,860 12,691 (2,749) 3,395 (33,073) 51,609
As at 1 January 2022 485 70,860 12,691 (2,749) 3,395 (33,073) 49,179
Loss for the year - - - - - (12,714) (12,714)
Other comprehensive income - - - 209 - - 209
Total comprehensive (loss) / profit for the year - - - 209 - (12,714) (12,505)
Transactions with owners of parent in their capacity as owners:
Equity share-based payment compensation 46 460 - - 633 - 1,139
Share issues 350 2,735 - - - - 3,085
As at 31 December 2022 881 74,055 12,691 (2,540) 4,028 (45,787) 43,328
Unaudited Consolidated Statement of Cash Flows
For the year ended 31 December 2022
2022 2021
Net cash flows from operating activities
Loss before income tax (12,308) (31,019)
Non-cash adjustments
Depreciation and amortisation 8,947 9,548
Share-based payments charges 1,142 2,208
Impairment charge - 19,597
Interest payable 502 465
Working capital adjustments
Decrease in trade and other receivables (3,214) 3,377
Increase / (decrease) in trade and other payables 4,214 (4,864)
Tax received 1,280 1,194
Net cash generated by operations 563 506
Cash flows from investing activities
Purchase of property, plant and equipment (39) (586)
Addition of intangible assets (5,942) (6,919)
Payment for acquisition of subsidiary - (3,574)
Net cash used in investing activities (5,981) (11,079)
Cash flows from financing activities
Proceeds from share issue net of issue costs 3,085 10,391
Repayment of loans (424) (5,839)
Payments in respect of leases (885) (840)
Loans acquired on acquisition - 971
Interest and finance fees paid (400) (365)
Net cash generated from financing activities 1,376 4,318
Net decrease in cash and equivalents (4,042) (6,255)
Cash and cash equivalents brought forward 5,465 12,086
Effect of foreign exchange rate changes 238 (366)
Cash and cash equivalents carried forward 1,661 5,465
Notes to the Financial Statements
1. Background and basis of preparation
The principal activity of the Group is a premium cloud communications platform
for hybrid and remote communications.
LoopUp Group plc ('the Group') is a limited liability company incorporated and
domiciled in England and Wales, with company number 09980752. Its registered
office is 9 Appold Sreet, London EV2A 2AP.
The unaudited summary financial information set out in this announcement does
not constitute the Group's consolidated statutory accounts for the years ended
31 December 2022 or 31 December 2021. The results for the year ended 31
December 2022 are unaudited. The statutory accounts for the year ended 31
December 2022 will be finalized on the basis of the financial information
presented by the Directors in this preliminary announcement, and will be
delivered to the Registrar of Companies in due course. The statutory accounts
are subject to completion of the audit and may also change should a
significant adjusting event occur before the approval of the Annual Report.
The unaudited summary financial information set out in this announcement has
been prepared using the accounting policies as described in the 31 December
2021 audited year end statutory accounts and have been consistently applied.
The preliminary announcement for the year ended 31 December 2022 was approved
by the Board for release on 7 June 2022.
2. Revenue and segmental reporting
The Directors have identified the segments by reference to the principal
groups of services offered and the geographical organisation of the business
as reported to the chief operating decision-maker (CODM).
The segments adopted in 2022 were the same as those in 2021.
Segmental revenues are external and there are no material transactions between
segments.
The Group's largest customer represented less than 5% of total revenue in both
years.
No segmental balance sheet was presented to the CODM. Overheads are not
presented to the CODM on a segmental basis.
The Group's revenue disaggregated by primary geographical markets is as
follows:
LoopUp Third party
Platform Resale
Capabilities Services Hybridium Total
£000 £000 £000 £000
For the year ended 31 December 2022 (unaudited):
UK 2,801 995 - 3,796
EU 1,503 811 468 2,782
North America 8,194 1,165 161 9,520
Rest of World 471 - - 471
Total (unaudited) 12,969 2,971 629 16,569
For the year ended 31 December 2021:
UK 7,027 1,624 13 8,664
EU 2,181 1,136 138 3,455
North America 5,363 1,684 61 7,108
Rest of World 269 - 30 299
Total 14,840 4,444 242 19,526
The Group's revenue disaggregated by pattern of revenue recognition is as
follows:
LoopUp Third party
Platform Resale
Capabilities Services Hybridium Total
£000 £000 £000 £000
For the year ended 31 December 2022 (unaudited):
Services transferred at a point in time 10,995 - - 10,995
Services transferred over time 1,974 2,971 629 5,574
Total (unaudited) 12,969 2,971 629 16,569
For the year ended 31 December 2021:
Services transferred at a point in time 12,740 10 - 12,750
Services transferred over time 2,100 4,434 242 6,776
Total 14,840 4,444 242 19,526
The Group's gross profit disaggregated by segment is as follows:
2022 2021
unaudited
£000 £000
LoopUp Platform Capabilities 9,838 11,740
Third party resale services 953 1,487
Hybridium 629 241
11,420 13,468
The Group's non-current assets disaggregated by primary geographical markets
are as follows:
2022 2021
unaudited
£000 £000
UK 52,394 56,851
Other EU 237 253
North America 2,113 1,181
Rest of world 2 2
54,746 58,287
3. Loss / earnings per share
The basic earnings per share is calculated by dividing the net loss
attributable to equity holders of the Group by the weighted average number of
ordinary shares in issue during the year.
12 months to 12 months to
31 December 2022 31 December 2021
unaudited
Loss attributable to equity holders (£000) (12,714) (24,967)
Adjusted profit attributable to equity holders (£000)* (9,090) (4,938)
Weighted average number of ordinary shares in issue (000) 120,522 63,992
Basic loss per share (pence):
- Basic adjusted* (7.5) (7.7)
- Basic (10.5) (39.0)
`
* - Calculated using the loss attributable to equity holders adjusted for
exceptional reorganisation costs, exceptional impairment charges, amortisation
of acquired intangibles and share based payment charges.
The diluted loss per share in 2022 and 2021 were equal to the basic loss per
share, as no potentially dilutive shares were deemed not to be anti-dilutive.
4. Dividends
The Directors do not recommend the payment of a dividend (2021: £nil).
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 FR EAFKKEEFDEAARecent news on Loopup
See all newsREG - LoopUp Group PLC - Last day of dealings of Ordinary Shares on AIM
AnnouncementREG - FTSE Russell - Loopup Group
AnnouncementREG - LoopUp Group PLC - Results of General Meeting
AnnouncementREG - LoopUp Group PLC - PDMR Dealings and Total Voting Rights
AnnouncementREG - LoopUp Group PLC - PDMR Dealings
Announcement