Tuesday 03 December 2019

Motion measurement moves Oxford Metrics forward

logoThree years into its five year growth plan and investments are bearing fruit at Oxford Metrics. The provider of motion measurement and infrastructure asset management software to the government, life sciences, entertainment and engineering sectors reported Adjusted PBT of £5.5m (up 5.7%) on revenue up 11.7% to £35.3m in the year to 30 September 2019. 

It wasn’t a perfect year – despite new customer wins, at £7m revenue was marginally down within the cloud based Yotta asset management division due to the (now completed) SaaS shift and slower than expected customer implementations. ARR increased however. The division was also rejigged with the sale of Yotta surveying assets. 2020 will be an important year for this newer division of the business.

What was particularly encouraging was the performance of the Vicon motion measurement division. This is the largest and longest established division of the business yet it delivered a 16% increase in headline revenue. The vibrant engineering sector was a contributor: revenue expanded by 37.7%, with new contracts with European Space Agency, Thales Alenia Space, Northrup Grumman and NASA's Jet Propulsion Lab. And as per the overall growth plan, the division also entered into adjacent markets - elite sports and location based VR. 

Oxford Metrics, a long time participant in the motion measurement business, is benefitting from what it describes as the “Augmented Age”, where lives are being enhanced and augmented through digital interfaces. Simply put, the market is coming to Oxford Metrics (e.g. smartwatches, fitness trackers, smartphones, robots, VR rigs and vehicles all routinely track movement). It is benefitting now (see here for the background) and has the scope to continue to do so as customers across industries find more uses for motion measurement.  

Posted by: Angela Eager

Tags: results   software  

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