GCIRaluca Saceanu of Smarttech247: EBITDA up by 60% with continued growth and strategic advances expected
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Raluca Saceanu, CEO of discusses the company's maiden interim results which showed revenue increase by 20%, EBITDA up by 60% and says she is looking forward to continued growth and strategic advances.
Interim Results - Operational highlights
· Admitted to trading on AIM in December 2022 raising £3.7 million via a placing of new ordinary shares
· Continued growth of the customer base in the UK, Europe and the US
· Multiple new contracts secured, including:
o Three-year VisionX contract with a Fortune 150 leading automotive retailer in the USA worth c.US$800,000
o Three-year agreement with a large US tech company worth c.US$400,000
o Two-year agreement with a prestigious Irish University worth c.€450,000
· Headcount increased by 75% to deliver the proprietary technologies of VisionX, Threathub and NoPhish
· Dedicated sales operation now established leading to a growing sales pipeline
· New Women in Cybersecurity Academy launched in August 2022
· Featured as a Fast 50 Technology Company by Deloitte Ireland in November 2022
Post-period end
· New and renewed contracts secured:
o Existing contract with a global pharmaceutical client renewed for another year which is worth c.US$615,000
o Contract secured with a new client - a global pharmaceutical organisation
o New three-year contract worth over €100,000 with a leading climate solution company
o Extended the scope of an existing contract with a Fortune 500 customer
o Signed a letter of intent for a three-year contract with a major European financial services group
Financial highlights
· Revenues increased by 19.4% to €4.62 million (31 January 2022: €3.87 million)
· Adjusted EBITDA increased by 59.7% to €1.15 million (31 January 2022: €0.72 million)
· Cash of €7.00 million at the period end (31 July 2022: €2.36 million)
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