(Alliance News) -Â Blue Prism Group PLC on Monday said it expects full-year revenue to be towards the lower end of guidance.
The robotic process automation firm said bookings for the six months to April 30 were GBP98 million, up 35% on last year, and there was a closing cash position of GBP126 million.
Closing annual recurring revenue was GBP168 million compared to GBP154 million for the year to October 31, 2020. Based on the first-half annual recurring revenue runrate, and prevailing foreign exchange rates, the company believes full-year revenue is likely to be towards the lower end of the GBP170 million to GBP180 million guidance range.
Blue Prism expects that forex rates have reduced its original revenue guidance by around GBP2 million. It still expects a loss before interest, tax, depreciation and amortisation for the year of around GBP25 million.
"We are still maturing the core business and remain disciplined on spend. We are reviewing our go-to-market model and the product and service formats we offer to better align with the transformation agenda within our clients for digitisation and automation. Whilst acknowledging that Blue Prism development continues, the opportunities and commitments from our global customer base remain robust," said Chair & Chief Executive Jason Kingdon.
Shares in Blue Prism were down 5.2% at 1,021.05 pence in London on Monday.
By Lucy Heming;Â lucyheming@alliancenews.com
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