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Thursday 25 November 2021

ActiveOps enjoys strong growth in H1

ActiveOpsActiveOps published its interim results for the period ending September 30th and show the Operations Management automation specialist putting on strong growth in the first half of the financial year. 

ActiveOps, which completed its IPO earlier this year (see: ActiveOps confirms IPO), saw total revenue for the first half grow 22% to £11.5m (H1 2020 £9.4m). Broken down by service line software and subscriptions grew 12% to £9.6m (H1 2020 £8.6m), whilst training and implementation grew 137% to £1.9m (H1 2020 £0.8m) benefiting from a Covid-19 bounce back. Annual Recurring Revenue (ARR) was particularly positive up 16% to £19.8m (H1 2020 £17.1m). Gross margin is ahead of expectations at c.80% (75% was expected) and the business made an adjusted EBITDA loss of -£0.2m (H1 2020 £0.1m).

ActiveOps's customers are predominantly in the banking, insurance BPO sectors and include the likes of Nationwide and DXC Technology. The company provides Management Process Automation (MPA) software that is designed to support complex and global back-office operations and has been benefiting from clients moving to remote and hybrid working where “line of sight management” notoriously struggles. 

Another positive set of results from the AIM-listed business points to a healthy upward curve as the business also looks to grow its operations outside the UK, notably in the US and Australia.

Posted by: Marc Hardwick at 09:22

Tags: results   operations  

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