(Alliance News) - Access Intelligence PLC on Tuesday said it expected a decline in revenue, albeit anticipating adjusted earnings and annual recurring revenue to climb.
The London-based software-as-a-service products provider said it expected revenue to fall 5.0% to GBP62.4 million in the financial year ended November 30, from GBP65.7 million a year prior.
However, it said that annual recurring revenue grew 2.2% to GBP61.3 million from GBP60.0 million a year prior.
Further, it emphasised that it expected adjusted earnings before interest, tax, depreciation and amortisation to more than than treble, with the adjusted Ebitda margin jumping to 11% in 2023 from 3% in 2022.
The company said: "In 2024 management will continue to focus on enhancing product functionality for customers, building on the group's market leading audience intelligence proposition and driving further acceleration in ARR growth across both the APAC and EMEA & North America regions. The introduction of the group's next generation product into the APAC market during 2023 has already created significant upsell and cross-sell opportunities. This is expected to gain momentum in 2024 as additional features become available for customers."
Access Intelligence shares rose 4.6% to 57.50 pence each on Tuesday afternoon in London.
By Tom Budszus, Alliance News slot editor
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Access Intelligence (ACC)