Celebrus Technologies trades in line with FY expectations

19th Mar 2024 09:30

(Sharecast News) - Data solutions firm Celebrus Technologies said on Tuesday that its full-year results were seen in line with market expectations, with both revenue and profits improving year-on-year.

Celebrus said revenues were expected to be above £32.0m, while adjusted pre-tax profits were pegged to be in the region of £5.5m, up from £21.5m and £3.8m a year earlier, respectively. Annual recurring revenue from software licenses and associated support, maintenance and Celebrus Cloud was expected to be at least £20.0m, a 20% increase in the year.

The AIM-listed firm highlighted that its year-end cash balance was expected to be healthy and that it remains debt-free.

Celebrus added that it will continue to focus on the development and growth in adoption of its platform in key markets, while also ensuring that it is prepared to scale efficiently in the coming year. It also said its order backlog and pipeline provided it with "good visibility" for the coming financial year.

Chief executive Bill Bruno said: "I am extremely proud of the team globally and their contributions to a successful year for the business. We continue to emphasize our focus on the Celebrus software platform, with the primary deployment option being Celebrus Cloud. As the upcoming financial year approaches, we are pleased with our ARR growth and revenue visibility; we will continue to invest accordingly to ensure we execute our strategy successfully."

As of 1035 GMT, Celebrus shares were up 2.07% at 232.20p.

Reporting by Iain Gilbert at Sharecast.com