Netcall Plc - Final Results 2019
("Netcall", the "Company", or the "Group")
Final Results for the Year Ended 30 June 2019
Strong growth in Cloud services
Netcall plc (AIM: NET), a leading provider of Low-code and customer engagement software, today announces its audited results for the year ended 30 June 2019.
- Revenue up 5% to £22.9m (2018: £21.9m)
- Cloud and product bookings(1) increased by 62% year over year to £10.5m (2018: £6.5m)
- Total annual contract value(2) ('ACV') at 30 June 2019 up 10% year over year to £15.7m (30 June 2018: £14.2m)
- Adjusted EBITDA(3) of £3.41m (2018: £5.42m) after increased spending on growth investment
- Profit before tax increased to £0.75m (2018: £0.05m)
- Cash generated from operations of £6.84m (2018: £2.66m)
- Group cash at 30 June 2019 was £7.77m more than offsetting debt of £6.63m
- Low-code solution main driver of customer acquisition and cross-selling with Cloud orders 260% higher at £5.8m
- Strong growth in commercial, healthcare and government sectors including two NYSE quoted professional service firms and Network Rail
- Unlocking the value of our customer base, with Low-code cross-sales to date being three times higher ACV than the current average
- Strong momentum in transition to cloud, with cloud bookings exceeding product bookings for the first annual period
Henrik Bang, CEO of Netcall, commented:
"Netcall continued the transition to a cloud business delivering a strong performance in our key financial metrics of Cloud services and product bookings and Annual Contract Value. This was led by significant growth in Low-code order bookings and revenues, which contributed £7.1m of Group revenues, increasing 35% in the year.
"We have now reached an inflection point, with Cloud services bookings exceeding product bookings for the first full annual period. The strategy remains to invest in our Cloud offering underpinned by a highly profitable, cash generative core business.
"The Group enters the new year in a healthy financial position, combining growing recurring revenues with a compelling proposition in a significant growth market."