22 Oct 2020 07:00
22 October 2020
CloudCall Group plc
("CloudCall", the "Company" or the "Group")
Capital Markets Day trading update
Positive trading performance continues with strong momentum and a new industry vertical launched with 3 CRM integrations
CloudCall (AIM: CALL; OTCQX: CLLLF), the integrated communications company that provides unified communications and contact centre software that tightly integrates with Customer Relationship Management ("CRM") platforms, will today host its virtual Capital Markets Day at 15:00 (BST) and will provide an update on its current trading and strategy. In addition, the Company will be revealing details of its exciting new Microsoft Teams integration, holding an interview with Bullhorn CEO, Art Papas, and will also provide more details on its launch into its new Property & Real Estate market vertical commencing with 3 new CRM integrations.
CloudCall CFO, Paul Williams, will set out some of the Company's key quarterly performance metrics, which the Directors believe demonstrates the Company's robust recovery from the initial COVID-19 impact earlier this year, with the Company's growth indicators expected to normalise back to pre-COVID-19 levels by early next year.
Commenting on the strong continued recovery, Paul Williams, said;
"We have seen the Company's growth metrics continue to improve during Q3 and into the start of Q4 2020. An accelerating lead flow driven by our ongoing commitment to investment in partnerships and marketing has been feeding a strong sales process and excellent demonstration to sales conversion rates which has in turn been driving new customer wins. In Q3, we saw a record demonstration to sales conversation ratio of approximately 56%, up by approximately 50% from pre COVID-19 levels. Furthermore, I am delighted to see that our existing customer base are beginning to buy more, which further demonstrates that CloudCall's offering remains highly compelling in both an office or working-from-home environment. Both of these factors combined means we remain confident in our ability to return to historic levels of growth next year."
Whilst the broader global economic backdrop remains challenging as a result of COVID-19, given these improving metrics, the Company confirms that it now expects full year revenue for the 12 months to 31 December 2020 to be ahead of expectations and will be in the range £11.5m to £12.0m.
The Company also is pleased to announce today that it is officially launching its Property & Real Estate market vertical, commencing with 3 new property focused CRM integrations for Left Main, Propertybase and Apto.
Commenting on today's announcement, CloudCall CEO, Simon Cleaver, said;
"I'm delighted to see the Company's "V" shape recovery gathering pace, and to see a faster than expected return to growth driving 2020 revenues to a level ahead of our expectations.
To add to this, I'm thrilled we have now launched our Property & Real Estate market vertical, starting with 3 new CRM partnerships which collectively represents over 300,000 users and adds another significant addressable market that CloudCall can begin to penetrate. We're hugely excited to be entering this sector which shares many characteristics with the recruitment vertical, where we are already perceived to be the 'best in class' by many of our customers and partners.
We had always planned to launch this additional vertical and I'm keen to stress that the Property & Real Estate vertical is a segment we began exploring in detail last year and is not any form of pivot away from the Recruitment sector that has been leading our recovery. We expect to see significant potential continued growth in both verticals.
Before the COVID-19 pandemic, we held an ambition to reach a £50 million revenue run-rate within 5 years (2025) and now that we've returned to growth following the initial impact from COVID-19, we've set ourselves the same target to achieve this by 2026.
I look forward to sharing more about the progress we are making and these exciting new developments our business is achieving during our Capital Markets Day later today."
As previously announced, the Company will be holding a Capital Markets Day for investors on Thursday at 15:00 to 16:30 (BST) today.
To attend this event and learn more from the Company's management team about how CloudCall is returning to growth by continuing to expand its unique CRM partnerships based approach and extending its market reach into Real Estate and Property, sign up to Investor Meet Company for free and add register to watch today's event at:
https://www.investormeetcompany.com/cloudcall-group-plc/register-investor
Investors who have already registered and added to meet the Company, will be automatically invited to this event.
A recording of the event will be available on the Investor Meet Company platform and the Company's website at the end of the event. (https://www.cloudcall.com/investor/presentations/)
For further information, please contact:
CloudCall Group plc Tel: +44 (0)20 3587 7188
Simon Cleaver, Chief Executive Officer
Paul Williams, Chief Financial Officer
Canaccord Genuity Limited (Nominated Adviser & Broker) Tel: +44 (0)20 7523 8000
Simon Bridges
Richard Andrews
Thomas Diehl
About CloudCall Group Plc
CloudCall is a software and integrated communications business that has developed and provides a suite of cloud-based software and communications products and services. CloudCall's products and services are aimed at enabling organisations to leverage their customer data to enable more effective communications and improve performance.
The CloudCall suite of software products allows companies to fully integrate telephony, messaging and contact centre capabilities into their existing customer relationship management (CRM) software, enabling communications to be made, recorded, logged and categorised from within the CRM system with detailed activity reporting and powerful business intelligence capable of being easily generated.
At the end of June 2020, the Company had approximately 170 staff based in Leicester (UK), Boston (US). Sydney (AUS) and Minsk (BY) with over 43,000 end-users relying on CloudCall technology to power their CRM integrated communications.