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27 Jan 2025 07:00
27 January 2025
PCI-PAL PLC
("PCI Pal", the "Company" or "the Group")
Trading Update
New Business Growth Momentum Continues
PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions for business communications, is pleased to announce a trading update for the six months to 31 December 2024 (the "Period" or "H1").
The Group has delivered its highest H1 on record for new business with the Annual Contract Value ("ACV") of deals signed in the Period exceeding £1.9 million (2023: £1.6 million). This H1 outcome has been achieved by a combination of strong run rate small to mid-size new business contracts, together with a number of larger enterprise wins, including several competitor displacements.
In the Period, Annual Recurring Revenue ("ARR") has increased more than 21% year on year to £16.8 million (2023 restated: £13.8 million1).
Revenue for H1 was in line with management expectations and up 26% year on year to £10.6 million (2023 restated: £8.4 million). The restated 2023 revenue reflects the previously reported revenue deferral from the FY24 accounts. The underlying year on year normalised2 revenue growth was approximately 13%.
Net cash at Period end was £4.0 million, and the Company's debt facility remains undrawn.
Commenting on progress in the Period, James Barham, Chief Executive Officer of PCI Pal, said:
"I'm very pleased with the operational performance of the Company in the period, particularly with the demand we have seen for our services in this first half of the year which is typically the slower half in terms of new business.
"Our stated strategy to service the breadth of the contact centre market globally is paying off, with continued incremental increases in the run rate new business we're able to sign, as well as a fast growing enterprise customer-base.
"This is an exciting time for PCI Pal as we continue to evolve our plans to best capitalise on the opportunity in front of us. Given the progress being seen in the business, supported by our strong sales pipeline, we are confident in the outlook of the Group as we continue to deliver against our objectives."
1 2023 ARR restated to exclude ARR that was attributable to the revenue that was subsequently deferred from FY24.
2 normalised revenue growth is calculated by excluding the revenue recognised in the Period that was subsequently deferred from FY24 to FY25.
For further information, please contact:
PCI-PAL PLC | Via Walbrook PR |
James Barham - Chief Executive Officer Ryan Murray - Chief Financial Officer
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Cavendish Capital Markets Limited (Nominated Adviser and Broker) | +44 (0) 20 7227 0500 |
Marc Milmo/Fergus Sullivan/Finn Gordon (Corporate Finance) Sunila De Silva/Ondraya Swanson (Corporate Broking)
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Walbrook PR | +44 (0) 20 7933 8780 |
Tom Cooper/Nick Rome | +44 (0) 797 122 1972 |
tom.cooper@walbrookpr.com |
About PCI Pal:
PCI Pal is a leading provider of Software-as-a-Service ("SaaS") solutions that empower companies to take payments from their customers securely, adhere to strict industry governance, and remove their business from the significant risks posed by non-compliance and data loss. Our products secure payments and data in any business communications environment including voice, chat, social, email, and contact centre. We are integrated to, and resold by, some of the worlds' leading business communications vendors, as well as major payment service providers.
The entirety of our product-base is available from our global cloud platform hosted in Amazon Web Services ("AWS"), with regional instances across EMEA, North America, and ANZ.
For more information visit www.pcipal.com or follow the team on Linkedin: https://www.linkedin.com/company/pci-pal/
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