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Wednesday 21 September 2022

Loyalty and personalisation winning formula for Eagle Eye in FY22

Eagle Eye logoSignals that FY22 (ending 30 June 2022) would be a good year for UK-based Eagle Eye were there at the half way point and with 39% revenue to growth to £31.7m full year results certainly delivered on the promise, meriting management comments that it was an “exceptional year of growth”. 

There were advances on several fronts including new customer wins (e.g. two new US customers secured via partner Neptune Retail Solutions, and Halfords Motoring Group) and customers going live at a faster pace as Eagle Eye becomes more agile both technically and in how it delivers value by increments. Meanwhile opportunities are developing in North America within the CPG sector as it gears up for the shift from manual coupons to digital programmes, and more broadly the NA Loyalty and Promotions market opens up. NA will be a focus over the coming year. The AP market continued to progress. Having developed a successful process for entering new geographies, there are plans to expand in Europe, direct and via partners, starting with the DACH region. 

One of the aspects that stands out from Eagle Eye’s business model is its commitment over recent years to profitable growth with CEO Tim Mason emphasising an approach that grows the cost base in line with customer base, while maintaining investment. During FY22 that resulted in a 54% increase in adjusted EBITDA to £6.5m, with PBT up 44% to £0.7m and a maiden profit after taxation of £0.6m for the SaaS company. Outside the financial domain, the company was awarded three-star accreditation by Best Companies to Work for 2022. This was one of Mason’s proudest achievements and reflects the commitment to people and culture that are the bedrock of successful business. 

Even with inflationary pressures, the company is confident, with good momentum, new business pipeline and growing international opportunities. Mason believes that in times of economic hardship retailers and brands have to work harder to retain customers and ensure digital loyalty and promotion initiatives are as effect as they can be. That is the opportunity for Eagle Eye, through a platform that provides the scope to harness personalisation to change more consumer behaviour at less cost. 

Posted by: Angela Eager at 09:29

Tags: results   software   retail   digital  

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