Results for the 6 Months to 30 June 2018
Sopheon plc, the international provider of software and services for Enterprise Innovation Management solutions, announces its unaudited half-yearly financial report for the six months ended 30 June 2018 together with a business review and outlook statement for the second half of the year.
Revenue: $15.9m (2017: $12.5m)
EBITDA1: $4.1m (2017: $3.0m)
Profit before tax: $2.8m (2017: $1.8m)
Net cash: $15.5m (2017: $6.6m)
Reporting 27% growth in revenue, and 62% growth in profit before tax, the business maintains its positive strategic and financial trajectory.
Momentum from 2017 customer wins was boosted by 29 license events in the period (2017: 28). These orders included 9 new customer wins (2017: 6) as both the market, and our reputation and position, continue to advance.
Revenue visibility2 for full-year 2018 at $27.2m (2017: $20.3m).
Further success in extending the use of Accolade beyond our innovation roots. We continue to make advancements in applying our software to link corporate strategy to operational execution, enabling customers to accomplish swift pivots to realize new strategic ambitions with speed.
Diluted EPS rose to 25 cents (2017: 18 cents) per share. Maiden dividend of 2.5p per share has been paid in July.
Sopheon’s Chairman, Barry Mence said: “Alongside ensuring strategic progress and position, we remain focused on our revenue and profit objectives. This is underlined by our record first half performance for revenue and profit, our record revenue visibility of $27.2m, our record cash balances, and our maiden dividend declaration. The final quarter has always had a strong weighting on the overall results for the year, and as we move through the summer our commercial teams remain highly active. Noting this, the Board in turn remains confident that the Group is trading comfortably in line with market expectations.”