Attraqt Group plc (AIM: ATQT), a leading provider of online merchandising, onsite search and eCommerce personalisation, announces its final results for the twelve months ended 31 December 2018.
- Revenue increased 26% to £17.1m (2017: £13.6m)
– Like for like* revenue increased 10% to £17.1m (2017: £15.6m)
- Gross profit increased by 22% to £11.5m (2017: £9.4m)
– Comparable** gross profit increased 16% to £11.5m (2017: £9.9m)
- Comparable** gross margin increased by 3% points to 67% (2017: 64%)
– Comparable** SaaS gross margin increased by 2% points to 76% (2017: 74%)
– Comparable** Services gross margin increased by 31% points to -3% (2017: -34%)
- Adjusted EBITDA breakeven; £0.03m (2017: loss of £0.2m)
- Losses before tax were £2.7m (2017: £4.1m losses)
- Basic EPS loss 2.6p per share (2017: 4.6p loss per share)
- Cash at period end of £0.5m (2017: £1.6m), over £1m on 31st Jan.
*2017 like for like figures include pre-acquisition Fredhopper contribution to make comparisons meaningful.
**2017 comparable figures include pre-acquisition Fredhopper contribution and industry standard definitions to make comparisons meaningful.
- Average contract value per logo up 14% to £97k (2017: £85k)
- Two-year renewal for the Group’s largest customer
- December 2018 Annual recurring revenue unchanged year on year at £16.0m
- New branding, website and target account sales process now in place
- Strategy review completed
Nick Habgood, Chairman, commented,
“2018 was an important year for Attraqt, as we continued to progress the work begun last year to drive the underlying operational effectiveness and performance of the business. Much progress has been made and we will follow on this path.
“Alongside these efforts, Luke has led a discovery process culminating in the launch of a refreshed vision, purpose, product offering and strategy. This strategy focuses on leveraging the Group’s strengths, as well as driving a client centric-approach, a culture of idea-sharing and innovation, and on building data into everything we do. We work in a dynamic industry, and in order to succeed Attraqt must continue strengthening its ability to address the future needs of ecommerce.
“Ultimately, we have a first-class client base, robust products, a growing market opportunity and a united team in place. Alongside our experienced Board, I am confident that the business is in strong and capable hands as we continue on our journey to become the recognised market leader in our field.”