Ubisense on track for further growth
Cambridge locations technology specialist Ubisense reported a trading bounceback in the year to December 31.
CEO Richard Petti said the company recorded strong revenue growth for its own RTLS SmartSpace and myWorld products, particularly in North America, with its own product revenues increasing by more than 25 per cent over the prior year.
On top of announced contract wins, Ubisense continued to sign both new deployments and expansion projects during the year. Own product revenue growth has more than offset the expected transition away from legacy third party services projects, Petti said.
As a result, the company expects overall revenues to have increased over the previous year.
Ubisense says it is continuing to invest in both sales capacity and further development of its software and hardware solutions, having entered 2018 with a strong order book for its own products, a growing sales pipeline and momentum with key customers.
The company expects to report a cash balance of £9.1 million and a net cash positive position of £6.6m at December 31.
Petti said: “The refocusing of our strategy has resulted in several strategic wins in aerospace, telecommunications and automotive sectors which will be the foundation of our future growth in these markets.
“Our focus on enterprise software and investments into our go-to-market capabilities is building our pipeline and will drive gross margin growth.”
• PHOTOGRAPH SHOWS: Richard Petti