Sopheon plc, the international provider of software, expertise, and best practices for Enterprise Innovation Performance, is pleased to announce its results for the year ended 31 December 2019, in line with market expectations, together with an outlook for the current year.
· Revenue: $30.3m (2018: $33.9m)
Adjusted EBITDA1: $6.4m (2018: $9.4m)
PBT: $2.5m (2018: $6.4m)
Net cash: $19.4m (2018: $16.7m)
· Fourth quarter delivered 23 license transactions from annual total of 47 (2018:57) and 18 new customer wins (2018: 18).
· ARR rose from $14.8m at the start of 2019 to $15.9m at the end of the year. Full year 2020 revenue visibility2 is now $21.2m (Last year at this time: $20.6m).
· Transition to a SaaS business has started and the proportion of such business in the pipeline is at
45 percent of total software related opportunity.
· Robust balance sheet and cash position. Dividend maintained at 3.25p per share (2018: 3.25p).
Barry Mence, Chairman, commented: “It was good to see the inherent discipline in our business delivering another profitable and cash generative year, and our closing net asset and cash positions at historic highs. Consistent with our expectation after a slow first half, momentum rebounded sharply in the final quarter, which was one of the strongest on record for deal flow. Sopheon has a strong track record in a market that we believe is set to expand rapidly. Overall, coronavirus unknowns aside, we remain confident of growing commercial traction in the coming year. To underline this confidence, I am pleased to announce that in spite of a challenging year we are maintaining our dividend at 3.25p per share.”