Trading Update

RNS Number : 8184F

ActiveOps PLC

24 March 2022

 

24 March 2022

ActiveOps plc

("ActiveOps" or the "Company")

Trading Update

A year of growth and positive outlook

ActiveOps plc (AIM: AOM ), a leading provider of Management Process Automation (MPA) software for running hybrid and global back-office operations, today provides an update on trading as it approaches its financial year end on 31 March 2022.

The Board is pleased to confirm that trading is in line with previously upwardly revised management expectations, with a total of nine new logos added globally since the beginning of the financial year. Trading has been particularly strong across EMEIA and Australia versus management expectations, offsetting slower than anticipated US growth and some softening of retention rates, reflecting the ongoing impact of COVID-19. The US region is however, the fastest growing region versus the prior year with a strong and growing pipeline.

The Group continues to benefit from a strong balance sheet with cash comfortably ahead of management expectations, providing the business with a strong basis from which to continue to carefully invest in its expansion, while managing the impact of inflationary pressures.  

Looking forward, the Board is confident in the Company's outlook, as a clearly defined list of target customers feed into an existing and robust pipeline. The impact of COVID-19 on global operations and the still evolving requirements for hybrid working is driving new levels of demand for better data and operational control. Th e value of sales opportunities in the Group's pipeline at formal proposal stage or later is 60 per cent. higher than in February 2021.

ActiveOps product release pipeline is equally strong with a number of major advances in AI and data driven management process automation due for release this year. Adoption of ControliQ is accelerating clients' capabilities to evolve and adapt new hybrid operating approaches, providing managers with the data to control and releasing time to implement agile operations post COVID-19.

Richard Jeffery, Chief Executive Officer of ActiveOps plc, commented, "We're pleased to confirm a positive close to the year, securing new logos across all our target industries and geographies while expanding our team and offering. Our high levels of recurring revenue and gross margin provide us with a strong basis as we look ahead, and while we see some ongoing disruption in the US market from COVID-19, the successes in EMEIA and Australia, combined with a considerably elevated sales pipeline, provide us with confidence in our ability to successfully execute on our growth strategy."

For more information, please contact:

ActiveOps Richard Jeffery, Chief Executive Officer Patrick Deller, Chief Financial Officer	Via Alma PR
Investec Bank plc (Nomad & Broker) Patrick Robb / David Anderson	[phone]
Alma PR Caroline Forde / Sam Modlin	+ 44(0) 203 405 0205

About ActiveOps

ActiveOps is a leader in Management Process Automation (MPA), providing a SaaS platform to large enterprises with hybrid and often global back-office operations. The Group's software and embedded back-office operations management methodology enables enterprises to adopt a data-driven, scientific approach to organising work and managing capacity.

The Group's enterprise platform comprises Workware+, its MPA software platform, and AOM, the Group's operations methodology and framework for effective back-office management. Together, this combination of software and embedded methodology enables operations managers to balance the competing priorities of meeting service and quality standards while improving productivity and reducing cost.

The Group serves its global customer base of approximately 80 enterprise customers from offices in the UK, Ireland, USA, Australia, India and South Africa. The Group's customers are predominantly in the banking, insurance and business process outsourcing (BPO) sectors, including Nationwide, TD Bank, Anthem Inc. and DXC Technology.

 

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