Blue Prism expects EBITDA losses despite boasting 100% retention rate
Blue Prism Group
1,274.00p
16:44 16/03/22
Software company Blue Prism announced on Wednesday that the "strong sales momentum" seen in the first half of its trading year had continued into the second as it inked a total of 400 software deals, but noted it hadn't been enough to save it from an EBITDA loss.
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With 206 new customers, 181 upsells to existing customers and 13 renewals in the second half, Blue Prism brought its total number of software deals for the year ended 31 October to 609 and boasted a 100% renewal rate along the way.
Blue Prism, makers of enterprise robotic process automation software, said that thanks to the strong commercial progress and recently secured new deals, it was expecting to report revenue for the year to be "comfortably ahead of current market expectations" and an adjusted EBITDA loss "broadly in line with current consensus expectations."
Chief executive Alastair Bathgate said, "It is encouraging to see the sales momentum we reported at the half-year stage continuing through the second half, particularly in the final quarter, and on into the new financial year now underway."
"Our global partner base is engaged, our customers continue to seek out new ways to use our software to create real business value, and we look forward to another exciting year of growth," Bathgate added.
The firm's full financial report was slated for release on 25 January 2018.
In the same statement, Blue Prism announced that chief financial officer Gary Johnson, who had been with the company since 2015, would be stepping down from his role in January and would be replaced by Ijoma Maluza after a month-long "orderly handover" period.
As of 1000 GMT, shares had fallen back 8.77% to 1,219.75p.