Recurring revenues now make up 91% of total revenue, with licence revenue up to £1.72m per month.
Companies: Blue Prism Group Plc
Shares in Blue Prism, the AIM-listed robotics specialist, rose nearly 6% on Tuesday after the firm announced strong interim results for the first half, showing revenue growth of 133% to £9.3m, but widening EBITDA losses to £2.7m.
Recurring revenues represented 91% of total revenue in the period, with licence revenue increasing to £1.72m per month, and a cash position slightly lower year-on-year at £10.6m.
During the first half, PRSM and its seller network secured 209 deals, with 118 coming from new customers (up from 33 in the same period last year), 83 upsells from 53 customers, and eight renewals (100% renewal rate).
In the past year, Blue Prism has grown its customer base from 90 to 271, with the US now contributing 58 customers from that number.
CEO Alastair Bathgate said the firm had made strong progress during the first half, with sales momentum building within the group.
"Our indirect go to market strategy has been a key enabler of this progress, and we continue to invest in upskilling and engaging our global and international partners so that together we can be increasingly effective in delivering transformational solutions."
He added that the Robotic Process Automation market was expanding rapidly, with strong PRSM's sales pipeline giving it confidence for further growth in the second half of the year.
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