Actual Experience (LON:ACT), the analytics-as-a-service company, has today announced its preliminary results for the year ended 30 September 2019.
Highlights
· Revenue increased 79% to £1.93m (2018: £1.08m), largely as a result of the annualisation of the two large customer engagements secured in the prior year
· Reduction in loss for the year to £5.91m (2018: loss of £7.21m)
· Signing of two new ‘land and expand’ type customer engagements, signalling progress with our managed service offerings based on our analytics
· Successful evaluation by Vodafone of the deployment of our digital user software on their Universal Customer Premises Equipment (uCPE) hardware
· Expansion of an open purchase order (“PO”) from one of our Channel Partners, following their confidence in our ability to deliver at scale and provide tangible benefits to their customers
· Completion of £3m Placing in July 2019, to support ongoing Channel Partner development.
· Active discussions towards partnership with potential new partners
Post-period end
· Partner led change of our go-to-market strategy from a managed services to a professional services approach, in order to initiate quicker and broader customer engagements
Dave Page, CEO of Actual Experience plc, said: “We have been working hard for over ten years to reach this point and to move into our next chapter of growth. The growing awareness of Actual Experience in the market, resulting in enquiries from potential new partners, and the acceleration of activity at Verizon in particular, along with the continual alignment of our business towards the professional services offerings of our partners, means that we head into 2020 with optimism for the potential of the year ahead.”