REG - PCI-PAL PLC - Trading Update

PCI- PALAnnouncement

27/01/2025 07:00

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RNS Number : 6624U  PCI-PAL PLC  27 January 2025

 

 

27 January 2025

 

PCI-PAL PLC

("PCI Pal", the "Company" or "the Group")

 

Trading Update

 

New Business Growth Momentum Continues

 

PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions
for business communications, is pleased to announce a trading update for the
six months to 31 December 2024 (the "Period" or "H1").

 

The Group has delivered its highest H1 on record for new business with the
Annual Contract Value ("ACV") of deals signed in the Period exceeding £1.9
million (2023: £1.6 million). This H1 outcome has been achieved by a
combination of strong run rate small to mid-size new business contracts,
together with a number of larger enterprise wins, including several competitor
displacements.

 

In the Period, Annual Recurring Revenue ("ARR") has increased more than 21%
year on year to £16.8 million (2023 restated: £13.8 million(1)).

 

Revenue for H1 was in line with management expectations and up 26% year on
year to £10.6 million (2023 restated: £8.4 million). The restated 2023
revenue reflects the previously reported revenue deferral from the FY24
accounts.  The underlying year on year normalised(2) revenue growth was
approximately 13%.

 

Net cash at Period end was £4.0 million, and the Company's debt facility
remains undrawn.

 

Commenting on progress in the Period, James Barham, Chief Executive Officer of
PCI Pal, said:

 

"I'm very pleased with the operational performance of the Company in the
period, particularly with the demand we have seen for our services in this
first half of the year which is typically the slower half in terms of new
business.

 

"Our stated strategy to service the breadth of the contact centre market
globally is paying off, with continued incremental increases in the run rate
new business we're able to sign, as well as a fast growing enterprise
customer-base.

 

"This is an exciting time for PCI Pal as we continue to evolve our plans to
best capitalise on the opportunity in front of us. Given the progress being
seen in the business, supported by our strong sales pipeline, we are confident
in the outlook of the Group as we continue to deliver against our objectives."

 

(1) 2023 ARR restated to exclude ARR that was attributable to the revenue that
was subsequently deferred from FY24.

(2) normalised revenue growth is calculated by excluding the revenue
recognised in the Period that was subsequently deferred from FY24 to FY25.

 

 

For further information, please contact:

 

 PCI-PAL PLC                                                       Via Walbrook PR
 James Barham - Chief Executive Officer

 Ryan Murray - Chief Financial Officer

 Cavendish Capital Markets Limited (Nominated Adviser and Broker)  +44 (0) 20 7227 0500
 Marc Milmo/Fergus Sullivan/Finn Gordon (Corporate Finance)

 Sunila De Silva/Ondraya Swanson (Corporate Broking)

 Walbrook PR                                                       +44 (0) 20 7933 8780
 Tom Cooper/Nick Rome                                              +44 (0) 797 122 1972
                                                                   tom.cooper@walbrookpr.com (mailto:tom.cooper@walbrookpr.com)

 

About PCI Pal:

 

PCI Pal is a leading provider of Software-as-a-Service ("SaaS") solutions that
empower companies to take payments from their customers securely, adhere to
strict industry governance, and remove their business from the significant
risks posed by non-compliance and data loss. Our products secure payments and
data in any business communications environment including voice, chat, social,
email, and contact centre. We are integrated to, and resold by, some of the
worlds' leading business communications vendors, as well as major payment
service providers.

 

The entirety of our product-base is available from our global cloud platform
hosted in Amazon Web Services ("AWS"), with regional instances across EMEA,
North America, and ANZ.

 

For more information visit www.pcipal.com (http://www.pcipal.com) or follow
the team on Linkedin: https://www.linkedin.com/company/pci-pal/
(https://www.linkedin.com/company/pci-pal/)

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