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Netcall Plc - Trading Update and Notice of Results



Trading Update and Notice of Results


 Netcall plc (AIM: NET), a leading provider of Low-code and customer engagement software, today announces the following trading update for the 12 months ended 30 June 2019.


The Board anticipates full year revenues of £22.9m (FY18: £21.9m) and adjusted EBITDA(1) of £3.4m.


Cloud services bookings(2) increased by 197% to £7.6m illustrating strong momentum in our cloud business.


Total Low-code Annual Contract Value ('ACV')(3) has continued its growth and is up 36% year over year to £4.5m and the total ACV increased 10% year over year to £15.7m.


Cash generation has been strong and at 30 June 2019 the Group's cash position was £7.8m, ahead of the Board's expectations and more than offsetting the existing debt of £6.6m.


Henrik Bang, CEO of Netcall plc, commented, 


"We have seen strong growth in our key financial metrics of Cloud services bookings and ACV as we continue to transition from a traditional software business to a growing digital cloud operation.


"The Group's cloud services bookings exceeded traditional product sales for the full year which was mainly driven by strong Low-code sales to both new and existing customers. The combination of our powerful customer engagement software and our leading Low-code platform is a clear differentiator for Netcall in its market.


"As we continue to execute our Low-code investment plan, the Liberty business provides strong cash-flow for the Group. As a result, the Group's cash position increased significantly in the period which combined with high recurring revenues and a strong product portfolio, gives the Board confidence in the prospects for Netcall."