Actual Experience PLC Second enterprise sale of new DWMP product (0133H)

TIDMACT

RNS Number : 0133H

Actual Experience PLC

25 July 2023

25 July 2023

Actual Experience plc

(the "Company", "Actual Experience", or "Actual")

Second enterprise sale of new DWMP product

Actual Experience plc (AIM: ACT), the analytics-as-a-service company, is pleased to announce that it has received a second order for its Digital Workplace Management Platform (DWMP) within 9 months of commercial launch.

This new customer is a major global healthcare enterprise who have contracted with the Company via a large US channel partner for the recently launched DWMP Light option, in which a customer can choose to enter a shorter-term engagement as a way of baselining their current digital ecosystem ahead of a major transformation programme.

Scarlet Jeffers, Chief Product Officer of Actual Experience, commented: "This second enterprise sale within such a short period of time since we launched the new DWMP in October 2022 is extremely encouraging in terms of our product-market fit. To drive early sales, we've adapted to the most pressing needs of our prospective customers by creating this DWMP Light version, which targets a particular market pain (quantifying the success of expensive digital transformation programmes) and has a lower barrier to entry than the full platform. Our expectation is that customers signing up for this version will in time evolve to the complete DWMP offering."

This is a significant milestone for the Company as it marks the first enterprise sale of the new DWMP through a large US based channel partner, as well as entering a major vertical market sector. The global healthcare sector represents a significant opportunity for Actual's innovative and market-leading technology as well as proving to be economically resilient under tougher market conditions. This order totals GBP135k in revenue for a 6 month baselining project. This amount will be deducted from the $200k pre-payment made by the channel partner to the Company for Actual licenses as announced on March 15 2021, but will be fully recognised as revenue over the life of the contract.

Roy Jugessur, Chief Revenue Officer of Actual Experience, said: "We are delighted to have been appointed to work with this large new enterprise customer as part of a deeper strategic partnership. Throughout the process there was clear acknowledgement of how Actual's SaaS analytics platform will create value by tracking the impact of the customer's ambitious digital transformation programme on employees as well as quantifying the ROI in terms of productivity. Our continued growth proves that our disruptive technology is a 'need to have' for IT and Operations leaders alike."

Actual Experience continues its focus on large enterprise sales both through direct and partner engagements. The Company is seeing a constant uptick in interest for its Digital Employee Experience (DEX) products specifically through the materialisation of RFP processes, showing that demand is growing in this emergent market segment.

Iain McCready, Actual's newly appointed CEO commented: " This is an incredibly exciting time for the Company as we begin to see the recent momentum in the sales pipeline crystalising into early revenue for the new DWMP product. We look forward to this next stage of growing our position in the DEX category as it continues to take shape."

   For further information visit www.actual-experience.com   follow on twitter @ActualExp, or contact: 
 
  Actual Experience plc               Tel: +44 (0)207 
   Iain McCready, CEO                  129 1474 
   Steve Bennetts, CFO 
  Singer Capital Markets Advisory     Tel: +44 (0)207 
   LLP                                 496 3000 
   Shaun Dobson 
   James Fischer 
  Turner Pope Investments (TPI)       Tel: + 44 (0)203 
   Ltd                                 657 0050 
   James Pope 
   Andy Thacker 
  Flagstaff Strategic and Investor    Tel: +44 (0)207 
   Communications                      129 1474 
   Tim Thompson                        [e-mail] 
   Mark Edwards 
   Andrea Seymour 
   Anna Probert 
 

About Actual Experience

Actual Experience's goal is to make the digital world work for everyone, everywhere, all of the time. As the working world evolves post-pandemic, the global shift to a flexible hybrid model has brought with it a significant challenge; how do businesses create an environment that gives their people what they need to thrive, whilst protecting the commercial efficiency of the business and driving growth at the same time?

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEAKXLAFNDEFA

(END) Dow Jones Newswires

July 25, 2023 02:00 ET (06:00 GMT)