15 Nov 2018 07:00
15 November 2018
Actual Experience plc (the "Company" or "Actual Experience")
Trading Update
Actual Experience plc (AIM: ACT), the analytics-as-a-service company, today announces the following trading update for the 12 months ended 30 September 2018.
The Board is pleased to report a year of strong progress for the Company, with revenue for the 12 months having grown to £1.1m (FY'17 £0.4m). This growth is mainly driven by the part year contribution from the first full-scale customer deployment via one of its Channel Partners, as announced in April of this year. This means that the Company exits FY'18 with an annual recurring revenue (ARR) of £1.6m. This excludes the second large scale customer implementation, announced 1 June 2018, which will contribute to the current fiscal year's revenue figures.
This implementation and associated revenue growth demonstrates the potential scale of the Company's deployments within large enterprise customers and validates the Board's belief in their ability to generate annual revenues of, on average, $500,000 for Actual Experience.
In light of the deployments with the Company's Channel Partners, the Board believes the growth opportunity for Actual Experience to be significant and with cash as at 30 September 2018 of £10.8m (FY'17 £18.2m), the Company has a solid financial platform on which to execute its strategy.
The Company will publish its final results for the year ended 30 September 2018 in January 2019.
Dave Page, CEO of Actual Experience, commented: "With these two large customers the market opportunity and the product and process improvements we undertook prior to these full scale deployments have been validated. I am pleased that we are now at the stage we have been working towards for a number of years. This increase in revenue means that the level of net cash flows used in operating activities is decreasing, and we are confident that the momentum generated within our partners by these deployments will see revenue accelerate in this fiscal year, gathering pace as the year progresses."
Enquiries:
Actual Experience plc Dave Page, Chief Executive Officer Steve Bennetts, Chief Financial Officer
| via Alma PR |
N+1 Singer Advisory LLP Shaun Dobson Lauren Kettle
| Tel: +44 (0)207 496 3000 |
Alma PR Josh Royston |
Tel: +44 (0)7780 901979 |
Caroline Forde | Tel: +44 (0)7779 664584 |
Robyn Fisher | Tel: +44 (0)7540 706191 |
About Actual Experience
Actual Experience's analytics provide the digital Voice of the Customer. This is a real-time, data-driven view of what end users would say about the quality of a company's digital products and services, and why. Our customers can analyse everything that impacts the experience quality in their digital supply chains, for any service, type of user or the Internet of Things. It gives them complete transparency from the point of provision to the point of use and whether inside or outside their business's control. The insights can be used to make continuous improvements to their business performance.
Actual Experience is a listed-company on the London Stock Exchange (ACT). Our development Headquarters are in Bath, UK, and we also have offices in London. Actual Experience's unique digital analytics as a service is founded on ten years of cutting-edge research at Queen Mary University of London.
www.actual-experience.com