Actual Experience plc (LON: ACT), the analytics-as-a-service company, today announced its unaudited consolidated interim results for the six months ended 31 March 2019.
Dave Page, CEO of Actual Experience plc, said: “The success of the two large scale deployments announced last year has been the catalyst for deepening our engagement with these Channel Partners in the new financial year. The new pipeline of opportunities generated as a result of this change in engagement is starting to reach the point in the sales cycle where deals can be closed, with the first two having been secured in the first half of the year. In addition, long term pipeline development will be boosted as a result of successful evaluation by our Channel Partner of the built-into-hardware, announced earlier this month reaches the deployment phase. This is a landmark development for Actual Experience, representing the first successful achievement of another key strategic milestone on the pathway to the generation of recurring revenue at scale with minimal set-up costs. With a significant market opportunity, growing Channel Partner traction and increasingly scalable offering, the Board looks to the future with confidence.
Highlights
● Deepening of our engagement with our Channel Partners and two further ‘land and expand’ customer deployments secured
● Increased automation and scalability of our Analytics-as-a-Service (“AaaS”), to support our Channel Partners
● Revenue increased to £953,025 (31 March 2018: £264,348), reflecting growth in Channel Partner revenue
● Operating loss reduced to £3,458,087 (31 March 2018: loss of £3,825,738), in line with management expectations
● Loss per share of 7.37p (31 March 2018: loss per share of 7.75p)
● Cash and cash equivalents at 31 March 2019 of £8,166,466 (30 September 2018: £10,776,516)
Post period end
● First successful evaluation of ‘built in’ Channel Partner achieved, a key strategic milestone