Trading update, board change15 Nov 2017 07:09
Trading Update
The Board is pleased to report that Blue Prism continued to generate strong sales momentum in the second half of the financial year, driven by new customer wins and strong upsells with existing customers.
During the second half, the Group secured 400 software deals; of which 206 were new customers, 181 were upsells to existing customers and 13 were renewals. This momentum brings the total number of software deals secured during the financial year to 609; of which 324 came from new customers, 264 from existing customers and 21 from renewals. The Group achieved a 100% renewal rate in the financial year and all new customers were sourced indirectly via Blue Prism's global partner channel.
Given this commercial progress and recent new deals secured, the Board now expects to report revenue for the year ended 31 October 2017 comfortably ahead of current consensus expectations2 and an adjusted EBITDA loss1 broadly in line with current consensus expectations2. The Board is encouraged by the level of monthly recurring revenue at the year end and as such, now expects revenue for the current financial year to be above the upper end of the current analyst range.
Blue Prism will report financial results for the financial year ended 31 October 2017 on Thursday, 25 January 2018.
Board Change
The Board announces that Gary Johnson, Chief Financial Officer, will retire from his role and step down from the Board on 25 January 2018. Since joining Blue Prism in February 2015, Mr Johnson has led the development of the Group's financial platform, both ahead of and after the Group's 2016 IPO. The Board would like to take this opportunity to thank him for his hard work and contribution to Blue Prism's progress to date.
The Board is pleased to announce that Ijoma Maluza will succeed Mr Johnson as Chief Financial Officer and as a member of the Board with effect from 25 January 2018. Mr Maluza will join the Group on 18 December 2017 and work alongside Mr Johnson in order to effect an orderly handover of duties and complete the delivery of Blue Prism's financial results for FY 2017.