Vipera (AIM:VIP), the specialist provider of mobile financial software services, is pleased to announce its preliminary audited financial results for the year ended 31 December 2017.
Highlights
- Total revenue up 27% to €10.1 million (2016: €7.9 million)
- Recurring revenue up 43% to €1.6 million
- Adjusted underlying EBITDA loss, excluding non-recurring items, improved to €0.1million (2016: €1.0 million loss)
- Acquisition in Spain is profitable and expanding
- Successfully executed reorganization of Codd&Date
- Secured a strategic investment in the Company by Banca Sella Holdings who invested €2.5 million
- Continued to invest in product development
- Cash at year-end was €1.9 million (31 December 2016 €1.5million)
Marco Casartelli, CEO of Vipera plc, commented: “We took a number of significant steps forward in 2017 with continued growth, significantly reduced losses and evolving our relationship with Banca Sella. Subsequent to the year end it was announced on 18 April 2018 that Sella Open Fintech Platform S.p.A., a Banca Sella subsidiary, has made a recommended cash offer for the Company.”
vipera