You are not logged in and only seeing 7 days of articles. Please sign up or login to view more
Tuesday 12 January 2021

Rosslyn accelerates investment in H1

Rosslyn Data TechnologyInterim results from Analytics-as-a-Service provider Rosslyn Data Technologies have the Group posting revenues up 14.6% to £3.6m for H1 2021 (H120: £3.1m) with Annual Recurring Revenue (ARR) of £6.2m (H120: £6m). Having made its first ever operating EBITDA profit in FY 20 (see here), the equivalent for H1 21 was a small loss of £144k. Gross profit margins have improved to 82.2% (H120 81.2%).

Having raised £6.8m via a placing back in May Rosslyn invested in H1 into its sales and marketing operation appointing a new Chief Customer Officer and doubling the team’s headcount. This has already translated into a stronger pipeline which grew by 18%. However, it has also increased the cost base with admin expenses now sitting at £3.14m (H120 £2.69m).

2019’s acquisition of bulk supply chain data provider Langdon Systems for a bargain c.£50k is looking pretty timely, adding capability around import/export duty management systems, reporting and analytics and positioning the firm nicely post-Brexit, with companies required to report to HMRC for EU import/exports. Rosslyn has since launched CustomsCloud, a cloud-based self-service solution to help importers manage the additional customs procedures resulting from the UK's departure from the EU.

The remaining cash from the placing should also put Rosslyn in a strong position to take advantage of other acquisition targets that present themselves over coming months.

Posted by: Marc Hardwick

Tags: results   analytics  

Twitter   Facebook   LinkedIn   Email article link

© TechMarketView LLP 2007-2021: Unauthorised reproduction prohibited see full Terms and Conditions.