Pelatro Plc (AIM: PTRO), the precision marketing software specialist, is pleased to announce today its results for the year ended 31 December 2019.
Financial highlights
· Revenue increased 9% to $6.67 million (2018: $6.12m)
· Recurring revenue increased 63% to $2.96m (2018: $1.82m), 44% of revenue
· Adjusted EBITDA* $2.89m (2018: $3.75m)
· Adjusted earnings per share 4.2¢ (2018: 10.2¢)
· Gross cash as at 31 December 2019 $1.10m (at 31 December 2018: $2.22m); $1.39m received from debtors since year end
Operational highlights
• Won our largest contract to date, from one of the largest global telcos
• Added 5 customers organically, the highest number of customers in any year to date
• Won the first customer for our Data Monetisation Platform (Tele2, Kazakhstan)
• More than doubled the number of subscribers being processed by our solutions, from 350m to 800m
• Launched version 6 of the mViva Contextual Marketing Solution
• Established sales presence in Latin America and Central America and enhanced sales presence in Asia.
• Set up a dedicated team to focus on Customer Engagement
Post year end information
· Current gross cash $0.94m**
· Trade receivables at 29 February $4.4m
Outlook
· Release of mViva v.6 further differentiates us from the competition
· Clear momentum towards building a recurring revenue model
· Current revenue visibility of $4.1m
• Pipeline of c. $18m
Richard Day, non-executive Chairman of Pelatro commented:
“Significant progress has been made by Pelatro this year in developing our product suite, expanding our customer base and broadening our business offering. Our software is now handling and processing the data for over 800 million subscribers from our 19 telco customers in 18 countries around the world, reflecting a step change in our capacity which is a clear validation by the industry of the quality of our mViva system.
Although it is still early in our year, revenue visibility already stands at $4.1m, with an encouraging pipeline of around $18m; despite some uncertainties introduced by the current coronavirus pandemic (which is further elaborated on in our announcement of 24 March 2020 and also below), we are maintaining our momentum in moving towards a revenue sharing business model alongside our licence offering, which gives us every confidence in the coming year and our future.”
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