ActiveOps PLC Trading Update and Notice of Results (5896P)
20 October 2021 - 05:00PM
UK Regulatory
TIDMAOM
RNS Number : 5896P
ActiveOps PLC
20 October 2021
20 October 2021
ActiveOps Plc
("ActiveOps", the "Company, "the Group")
Trading Update and Notice of Results
Strong win and upsell performance drives revenue growth
ActiveOps plc (AIM: AOM), a leading provider of Management
Process Automation (MPA) software for running complex and global
back-offices, is pleased to provide an update on trading for the
six months ended 30 September 2021.
The Group has delivered a strong performance in the first half
of the year, evidencing the continued success of its Land and
Expand growth strategy. The Group expects to report revenue growth
of approximately 22% (H1 FY21: GBP9.4m), in line with Board
expectations, and a stronger than expected profit performance, of
approximately breakeven at the adjusted EBITDA level, reflecting
reduced travel costs as a result of the pandemic and the timing of
the increased investment in staffing. The Group has exited the
period with an Annual Recurring Revenue of GBP19.8m (FY21:
GBP18.3m, Sept 20, GBP17.1m).
ActiveOps secured new logo wins or contract expansions across
all target regions and sectors, including the first enterprise
level up-sale of WorkiQ into an existing ControliQ customer and the
signing of three-year contract renewals by two major Australian
banking clients. Customer retention was in line with historic rates
as demand for workforce management solutions continues to increase
in response to the ubiquitous move towards hybrid working.
The Group has continued to make good progress in delivering its
strategic goals. Further investment into ActiveOps' product has
seen the launch of Collector, a component available to both WorkiQ
and ControliQ which uses task mining technology to automate the
counting and aggregation of completed work, providing an accurate
picture of productivity whilst reducing the time spent on data
collection. Significant investment has been made in the Group's
capacity and capability, with over 20 new hires across the Group's
Technology, Product and Sales teams in this period, enabling
ActiveOps to continue to support its growing, global customer
base.
Notice of Results
ActiveOps will announce its results for the six months ended 30
September 2021 on 25 November 2021.
Richard Jeffery, Chief Executive of ActiveOps, commented, "The
six months to 30 September 2021 has been a period of positive
achievement for ActiveOps, as workforce management solutions move
further into the mainstream. We have secured new customers and
expanded existing customer engagements, while investing in our team
and our offering to ensure we have the products and structure to
execute on our growth plans. I look forward to the full year with
confidence as our market-leading offering continues to resonate
with our growing global blue-chip customer base."
For more information, please contact:
ActiveOps Via Alma PR
Richard Jeffery, Chief Executive www.activeops.com
Officer
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 / Sam Modlin / Faye
Calow
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 Workware+, its MPA
software platform, 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.
The Group has over 200 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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