Rosslyn Data Technologies plc (AIM: RDT), the provider of a leading cloud-based enterprise data analytics platform, is pleased to announce its audited results for the year ended 30 April 2019.
· Revenue growth of 8.3% to £7.0m (2018: £6.4m).
· Annual licence fee revenue growth of 9.2% to £5.4m (2018: £5.0m).
· Operating EBITDA (excluding share-based costs) improved by 75% to a loss of £432,000 (2018: loss of £1.8m).
· Cash generated from operations of £220,000 (2018: cash used in operations of £3.45m).
· Cash balance at the year-end of £2.0m (2018: £0.3m), after securing a £1.5m term loan from Clydesdale Bank, of which £1.0 million had been drawn down at year end. Net cash of £373,000 (2018: net debt of £757,000).
· Administrative expenses reduced by over 10% to £6.0m (2018: £6.9m).
· Year of consolidation allowing us to accelerate growth in the coming years from a sound base.
· Significant investment into product development to broaden out the RAPid product offering, adding new tools and functionality.
· Integrating functionality from the Integritie product suite into our new supplier information management suite (SIM).
· Secured high value contracts in various sectors including international logistics, civil defence, healthcare and pharmaceuticals, illustrating the broad appeal of our offering across the supply chain to chief procurement officers and chief financial officers in a wide range of sectors.
· Reduced cost base during the year through implementation of efficiencies in product development.
Rosslyn Chief Executive Officer, Roger Bullen said;
“Our work in 2019 has laid a solid foundation from which to grow the business further. We are confident of continued growth as we engage in numerous large client opportunities that we hope to be able to announce later this year.”