Alliance News9 Jan 2025 18:54
Cirata PLC - Jersey-based software solutions provider - Rounds off 2024 with the "strongest bookings quarter" since the second quarter of 2022. Bookings in the final quarter of 2024 total USD3.0 million, improving from USD2.7 million a year prior and USD1.7 million in the third quarter. Says bookings driven by an LDM contract with a top 3 US bank and a renewed partnership with IBM Corp. Annual bookings amount to USD7.1 million for 2024, fading from USD7.2 million for 2023. Chief Executive Officer Stephen Kelly says: "This management team came together to drive value creation for shareholders. Phase 1 in FY23 was a company rescue phase. Phase 2 in FY24 was the recovery phase and with the recent cost reductions, this phase is completed. With FY25, the company is moving into it's growth phase. Q4FY24 brings to a close a year in which we have done much to rearchitect, restabilize and reposition Cirata for more predictable, sustainable growth. The business is improved on almost every metric. We are driving growth in our key Data Integration product on a significantly reduced cost base."