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Wednesday 16 May 2018

Blue Prism updates on buoyant first half sales

blue prismToday’s trading update from RPA player Blue Prism for the first six months of FY2018 shows it to be ahead of the curve on scheduled revenue growth.

Blue Prism’s 2017 results released in January revealed continued growth off the back of strong sales activity (particularly overseas) which has clearly continued into the new financial year. 

The business took the decision in January to raise some £40m in cash essentially to further expand its global network and invest in its front-end sales and marketing capabilities. This appears to already be delivering securing 559 software deals; of which 223 were new customers, 298 were upsells to existing customers and 38 were renewals all signed during the first half of the year.

The RPA boom is showing no signs of slowing down anytime soon and indeed is benefiting from a maturing automation market where organisations are looking to deploy it in much greater numbers as it permeates ever wider areas of clients’ operations. Indeed, successful deployment in conjunction with complementary technologies such as Machine Learning or Natural Language Processing promises the potential for further growth as it becomes a more powerful and strategic tool.  

Blue Prism now expects to report revenue of £47.5m (FY17 £24.5m) for 2018 comfortably ahead of current expectations and an adjusted EBITDA loss of £18.9m (FY17 £8.3m loss) broadly in line with expectations.

Posted by Marc Hardwick at '09:17' - Tagged: tradingupdate   RPA   blueprism  

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