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
million1).
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
normalised2
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
|
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 or follow the team on Linkedin: https://www.linkedin.com/company/pci-pal/
