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Tuesday 14 September 2021

Investments deepen CloudCall H1 losses

CloudCall logoCloudCall, a cloud-based software business that integrates communications technology into CRM platforms, saw its first half revenue grow 10.4% (constant currency/FX adjusted) to £6.4m. The Adjusted EBITDA loss deepened to £2.56m (from £1.69m last year) following sustained investment in growth drivers. The firm says, however, that revenue growth is “starting to overtake cost growth”, helping to push the firm towards break even.

Revenue growth for the last full financial year was 4% to £11.8m. It was a “challenging” 2020, but CloudCall says it is “once again thriving”. The firm derives almost half of its revenue from the recruitment sector and it has seen sales to new customers in that sector accelerate in Q1 and Q2. This has been coupled with “considerable growth” from the existing customer base, which is taking a greater number of services from CloudCall.

The firm’s growth strategy is based on launching more CRM integrations, introducing new product enhancements for sale to existing customers, and improving internal systems to create more efficient processes for improved profitability. In terms of the first point, CloudCall says “excellent” progress has been made with a number of new “sweet spot” CRM integrations planned for release in Q4 2021. The Group claims this will effectively double its addressable market of users in this market. The positive news on the profits front is that the overall EBITDA loss for FY 2021 is set to be “slightly lower” than previous guidance.

Posted by: Kate Hanaghan at 09:45

Tags: results  

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