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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pci-pal Plc | LSE:PCIP | London | Ordinary Share | GB0009737155 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 62.00 | 61.00 | 63.00 | 62.00 | 62.00 | 62.00 | 10,000 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Business Services, Nec | 14.95M | -4.89M | -0.0747 | -8.30 | 40.59M |
TIDMPCIP
RNS Number : 8911F
PCI-PAL PLC
21 July 2021
PCI-PAL PLC
("PCI Pal", "the Company" or "the Group")
Trading Update
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 year ended 30 June 2021.
After a strong year of trading, PCI Pal expects to announce revenues of approximately GBP7.3 million(1) , a substantial increase of 66% on the prior year (2020: GBP4.4 million), and an adjusted pre tax loss marginally better than current expectations(2) .
The year on year revenue growth continues to be driven by the Group's excellent progress in increasing the aggregate value of the Total Annual Contract Value(3) ("TACV") of contracts signed to date. TACV is a leading indicator and key metric of the Group's future recurring revenue and has grown significantly year on year with a 41% increase to GBP9.5 million (2020: GBP6.7 million) as at 30 June 2021.
The number of new customer contracts signed in the period has increased by almost twice the prior year to 195 new contracts (2020: 100), illustrating the strength of the Group's pureplay focus on secure payments, sold predominantly through its reseller channel partners, and all provided through its AWS global cloud platform. The recurring Annual Contract Value(4) ("ACV") of all of the new contracts signed in the period was GBP3.1 million, a 19% increase on a strong prior year comparator (2020: GBP2.6 million).
Throughout the period, the Company has continued to achieve high customer retention rates, with net retention exceeding 100% as a result of upsell demand from existing customers.
The strong trading performance and successful equity placing of GBP5.5m in April 2021 allowed the Group to fully repay its outstanding debt ahead of schedule in June 2021, resulting in a net cash position at the period end of GBP7.5 million (30 June 2020: GBP3.0 million).
Commenting on trading in the year and prospects, James Barham, Chief Executive Officer of PCI Pal, said:
"We have had an excellent year despite the challenges of the pandemic, making continued positive progress against our stated strategic objectives to be the global market leader in cloud technology in our space; to achieve scale selling through best-in-class reseller partners; and to provide our services globally in the Cloud without the need for on-premise hardware.
"By pursuing these objectives, we have been well positioned to meet growing customer and partner demand for cloud solutions, further justifying our chosen strategy and allowing us to capitalise on what has been a challenging time for many of our competitors.
"We start the new financial year in a strong position. With our TACV accumulated to GBP9.5 million, we already have high visibility towards the market forecast revenues for FY22 of GBP10.4 million."
(1) The GBP7.3 million expected revenue is subject to audit confirmation.
(2) Current market expectations for FY21 revenues is GBP7.0 million and an adjusted pre-tax loss of GBP3.6 million.
(3) TACV is the total expected annual recurring revenue from all contracted customers, whether invoiced and included in deferred revenue or still to be deployed and/or invoiced.
(4) ACV is the contracted annual recurring licence revenue component of the contract.
For further information, please contact:
PCI-PAL PLC Via Walbrook PR James Barham - Chief Executive Officer William Good - Chief Financial Officer finnCap (Nominated Adviser and Broker) +44 (0) 20 7227 0500 Marc Milmo/Simon Hicks (Corporate Finance) Richard Chambers (Corporate Broking) Walbrook PR +44 (0) 20 7933 8780 Tom Cooper/Nick Rome +44 (0) 797 122 1972 P CIPAL@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/
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
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July 21, 2021 02:00 ET (06:00 GMT)
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