Essensys revenues top market expectations amid strong US growth

08:58 13/08/2019 - Essensys said annual revenues grew by a quarter, beating market expectations amid strong US growth.

For the financial year ended 31 July 2019, revenue was ahead of market expectations at £20.5m, an increase of 25% from a year earlier, with recurring revenue at £15.8m, representing 77% of group revenue, the company said.

Adjusted earnings (EBITDA) was anticipated to be at least in line with market expectations at not less than £3.8m, above the last year's £3.2m, it added.

Annual recurring revenue (ARR) run-rate was £17.3m as at 31 July, an increase of 27% on £13.6m reported a year earlier.

The group's US business continued to grow strongly with year-on-year recurring revenue increasing 67% to £5.5m from £3.3m a year earlier, the company said.

'The continued expansion of our services to existing customers as well as an increase in the number of new customer wins further supports the Board's high degree of confidence that the Group will continue to deliver strong levels of future growth,' said Essensys.

At 8:58am: (LON:ESYS) share price was +11p at 175p

Story provided by



What the Papers Say

telegraph financial times daily mail daily express independent times
21:39 FirstFT: Today’s top stories 
21:33 PG&E sinks to 7-month low on new wildfire...
21:30 Wall Street rises for third day while...
20:09 China social media accounts suspended over...
19:48 Banking bodies look at shorter trading day...
19:47 Hong Kong billionaire to buy pub group...
19:46 Royal Mail accord with workers is...
19:45 Markets rally despite new Germany...
source: The Guardian
19:20 Saxo chief predicts more fintech takeovers
19:16 Auction blunder sees sale of oldest...
source: The Daily Mail
[more ...]