(Alliance News) - Sopheon PLC on Thursday said it is confident of meeting its expectations in 2019, with revenue visibility similar to last year and expected to rise over summer.
Sopheon provides software-as-a-service to businesses, with the aim of improving a company's revenue and profitability and it has a number of larger opportunities in its pipeline which are likely to close in the coming months.
Annual revenue visibility from Sopheon's contracted business and recurring revenue is USD23 million, similar to the year before, and is expected to "rise sharply" in the summer, matching the company's typical pattern with a stronger second half and particularly strong fourth fourth quarter.
"It has been very exciting over recent weeks to announce wins in countries like Thailand and Pakistan, representative of the potential for Sopheon of the significant Asian market. We are also seeing traction with partners both in overseas territories and with major management consulting firms," said Sopheon.
Sopheon's solutions are provided through its Accolade platform and include, among other things, product development, strategic planning, and project management. The company has announced the release of Accolade 12.3, which is specifically designed for global corporations.
"The board remains confident of achieving our full year expectations, and in continuing to deliver against Sopheon's strategic goals and expanded vision. The board looks forward to providing shareholders with a more detailed update at the time of its interim results for the 6 months to 30 June 2019, expected to be released in late August," said Sopheon.
Shares in Sopheon closed down 1.5% at 1,120.00 pence on Thursday.
