Netcall plc (AIM: NET), a leading provider of Low-code, customer engagement and contact center software, today announces its audited results for the year ended 30 June 2020.
· Revenue up 10% to £25.1m (FY19: £22.9m)
· Total annual contract value(1) ('ACV') at 30 June 2020 up 7% year over year to £16.8m (30 June 2019: £15.7m)
· Cloud services ACV at 30 June 2020 up 25% year over year to £7.5m (30 June 2019: £6.0m)
· Adjusted EBITDA(2) on an IFRS 16 basis up 29% to £4.41m (FY19: £3.41m on an IAS 17 basis). Adjusted EBITDA on an IAS17 basis increased by 21% to £4.12m
· Profit before tax of £0.50m (FY19: £0.75m)
· Cash generated from operations of £9.39m (FY19: £6.84m) including £2.21m of deferred VAT payments
· Group cash at 30 June 2020 was £12.7m (FY19: £7.77m) more than offsetting borrowings of £6.75m (FY19: £6.63m)
· Final ordinary dividend of 0.25p proposed, an increase of 25% (FY19: 0.20p)
· Solid trading in the financial year including strong demand in the final quarter despite COVID-19
· Continued high growth for cloud and Low-code solutions
· Organisation remained intact during the pandemic without requirement for furloughing, redundancies or pay-cuts
· Launched several releases to the Liberty platform including solutions catering for COVID-19 requirements
· Several large customer implementations went live during the year
Henrik Bang, CEO of Netcall, commented:"Netcall performed excellently in the year, delivering double-digit revenue and cloud ACV growth. We experienced solid demand in our largest market segments of healthcare, government and financial services, where our cloud and Low-code business continued to grow significantly.
"Following the outbreak of COVID-19, customer demand continued to be strong and the organisation remained firmly intact without furloughing, pay-cuts or redundancies. Throughout the challenging period, the Netcall team has shown tremendous flexibility, creativity and resilience, providing support to our customers, especially those within the NHS, and I would like to thank everybody for their contribution.
"The new financial year has begun well, with the Group trading strongly and ahead of last year in the first three months. Notwithstanding the positive start to the year and the Group's significant recurring revenues, the Board is mindful of the current economic uncertainty and the impact it may have on customers, which we continue to monitor closely. The acceleration of organisations' digital transformation initiatives represents a significant long-term opportunity for Netcall and provides the Board with confidence in the future prospects of the Group."