RE: 20th May 2025 7:00 am RNS Full Year Trading Update20 May 2025 18:33
20th May 2025 7:00 am RNS Full Year Trading Update
"... • HCM annualised recurring revenue ("ARR") increased by 24% YOY to £3.6 million in April 2025, positively contributing to profit margin growth (April 2024 ARR: £2.9 million)
• Over 40,000 monthly device subscriptions for GT Connect and other GT Services ...
Grosvenor Technology (HCM and Access Control)
HCM
Delivering strong growth with pipeline building
HCM has continued to lead our growth, with sales of £15 million, up 14% YOY, whilst ARR for April 2025 increased by 24% YOY to £3.6 million, further improving HCM's profitability.
In North America, demand for the GT4 and lower-cost GT4-Lite devices have also been particularly strong, with orders for the latter helping to displace its main low-cost clock competitor in the North American market. Our team continues to build strategic partnerships across the industry to open new sales channels, which will help to accelerate growth. Every customer in the region with one exception now has attached recurring services. ..."
https://www.lse.co.uk/rns/NWT/full-year-trading-update-6tsq9avwreo8l53.html
So over 40,000 connected clocks as at 20.5.25.
Compared to over 35,000 connected clocks as at 31.1.25:-
31st Jan 2025 7:00 am RNS Half-year Report
"... Grosvenor Technology
• Human Capital Management ("HCM") annualised recurring revenues* ("ARR") increased by 30% year-on-year ("YOY") to £3.0 million in October 2024, positively contributing to profit margin growth
• YOY revenue growth for HCM was 8%, with North America up 16%
• GT Connect, the division's global platform, is now processing over 12.1 million monthly clock-ins with over 35,000 monthly device subscriptions for GT Connect and other GT Services
• Progressed Oracle - GT Time partnership with software integration completed and testing underway ..."
https://www.lse.co.uk/rns/NWT/half-year-report-ikma7es88hhtt5h.html
I.e. an increase in connected clocks of about 14%, in under four months since 31.1.25: equating to an annualised growth rate of over 50%.
Suffice to say that this key revenue stream is growing like Topsy.
And this compares quite credibly with the company's very bullish growth plan presented two and a quarter years ago, at which point the latest year end connected clocks total was 13,000:-
From NWT's Investor Meet Company presentation slides, 8th. February 2023; from Slide 15:-
"# Connected clocks (at Apr year-end) Growth Plan
2018 500
2019 3,000
2020 5,000
2021 7,000
2022 13,000
2023 22,000
2024 34,000
2025 54,000"
https://www.investormeetcompany.com/