(Alliance News) - Communication services firm Cloudcall Group PLC on Tuesday said it expects revenue to rise in the first half of the year due to a jump in total users at the end of the period.
For the six months to June 30, the company anticipates to record revenue of GBP5.2 million, up 30% from the GBP4.0 million from the same period in 2018. Its user base at the end of the second quarter rose 37% year-on-year to just under 37,000 from 27,000.
Cloudcall said its recurring revenue jumped 34% year-on-year, with its US operations - which contributes 40% of global recurring revenue - finally generating profit.
The company anticipates 2019 revenue to total GBP11.7 million, up 33% rise on 2018 revenue of GBP8.8 million.
Cloudcall had 1,027 net users per month in the second quarter, ahead of its stated target of 1,000.
Cloudcall said it partnered with computing company Bullhorn Inc during the quarter, with "larger customers actively expressing an interest in using Cloudcall's" services.
The company is confident it can add a number of the larger prospective clients into its customer base by the year end. In May, the company inked a GBP1.0 million communications deal with an unnamed "larger customer" in the US.
Elsewhere, it admitted that UK short messaging service sales were lower than expected with the company now "prioritising the social media messaging platforms the UK customers prefer".
Chief Executive Simon Cleaver said: "The first half of 2019 was another period of solid quarter-on-quarter acceleration, and I fully expect this trend to continue for the remainder of the year."
Shares in Cloudcall fell sharply by 11.3% at 105.60 pence each in London on Tuesday morning.
