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."