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KRM22 PLC - London-based technology and software investment company - Says annualised recurring revenue as at December 31 amounts to GBP4.8 million, down 26% from GBP4.8 million on the same date a year earlier. Revenue in 2022 is GBP4.3 million, up 4.9% from GBP4.1 million the year prior. Pretax loss narrows to GBP3.0 million from GBP4.1 million a year earlier, administrative expenses reduce to GBP6.1 million from GBP6.7 million. Adjusted loss before interest, tax, depreciation and amortisation widens to GBP1.7 million from GBP700,000 a year earlier. Looking ahead, expects to get to ARR of GBP10.0 million by 2026 through delivering 20% compounded ARR growth each year while "achieving positive EBITDA and cash flow and we have the right foundations in place to achieve this goal".
Executive Chair Keith Todd says: "Since we launched KRM22 in April 2018, it has been five turbulent years with the UK exiting the European Union, Covid disruption and significant political turmoil globally as well as locally in the UK. Despite these challenges, KRM22 has been established as a credible name in capital markets with many leading institutions as current customers and many more in the immediate pipeline."
Current stock price: 43.00 pence each
12-month change: down 23%
By Xindi Wei, Alliance News reporter
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