ActiveOps swings to loss after acquisition of Enlighten

(Sharecast News) - ActiveOps reported a sharp rise in annual revenue and recurring income on Thursday, although it swung to a statutory loss after costs linked to the acquisition of Enlighten. The AIM-traded decision intelligence software group said revenue for the year ended 31 March rose 48% to £45.0m, while annual recurring revenue increased 46% to £41.5m, including a £5.9m contribution from Enlighten.

Adjusted EBITDA rose 72% to £4.3m, but the company posted a £2.3m loss after tax, compared with a £1.1m profit a year earlier, reflecting £3.0m of exceptional acquisition costs.

Executive chair Richard Jeffery said the year had delivered "a strong performance", adding that trading in the new financial year had begun well and that the group remained focused on its medium-term target of £100m ARR.

ActiveOps ended the year debt-free with £23.8m of cash, before strengthening its balance sheet further after year end through the US$10m sale of its WorkiQ trademarks.

At 0959 BST, shares in ActiveOps were down 10.48% at 235p.

Reporting by Josh White for Sharecast.com.

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