Netcall proud in the cloud
Strong demand for cloud solutions nudged Bedford-based software business Netcall plc into a position slightly above expectations for the year to June 30.
The company, which provides intelligent automation and customer engagement software, anticipates full year results to be in line with market expectations with around eight per cent revenue growth to £27.2m.
Cloud services annual contract value (ACV) soared 25 per cent to £9.4 million and now represents more than half of total ACV which increased 10 per cent to £18.5m. The cash position is healthy at £14.5m (up from £12.9m at December 31).
CEO Henrik Bang said: “Netcall delivered another strong performance with increased uptake of our Liberty platform and I am pleased to report good growth in both revenue and profitability.
“Sales momentum was particularly robust for our cloud solutions which experienced good demand across our key markets. As a result, cloud recurring revenue exited the period as the group’s biggest revenue stream growing 26 per cent during the year.
“We enter the new year with a strong pipeline and a substantial market opportunity, supported by an extensive customer base and expanding product offering.
“This, combined with a healthy balance sheet and high levels of recurring revenue, provide the board with confidence in the group’s continued success.”