Revenues are also expected to be "comfortably" ahead of current market expectations.
Companies: Sopheon plc
Software group Sopheon (LON: SPE) has seen its share price climb again today, reaching a 13-year high and continuing its rally of 2017 into the new year.
After first shedding light on its FY17 performance earlier this month, Management has today given more detail as to its financial performance last year.
The Group saw "solid growth in 2017" and signed two "substantial" deals in the USA and Germany in Q4, adding to its already solid roster of clients. These include the likes of Nasa, Philips, Siemens, Basf and Procter & Gamble.
As license deals signed grew from 49 in 2016 to 59 in 2017...
"The Board expects that reported revenues for the year ended 31 December 2017 will be over $28m, up from $23m in 2016, and comfortably ahead of current market expectations. The Board expects that both EBITDA and pre-tax profits will be significantly ahead of current market expectations. The year-end net cash position is expected to be $9.5m (2016: $4.2m)."
Shares in the Group were up 10% to 550p soon after markets opened on Monday morning.
SPE's share price has risen considerably over the past two or so years, growing from a price of 66p to today's price of 550p - growth of more than 730% compared to the same day in 2016.
Progressive Equity Research released a note on the Group today, updating their forecasts...
We adjust FY 2017E numbers to reflect the guidance given today, driving a 31% increase in our Adjusted EBITDA estimate to U$6.9 million. We also adjust estimates for December’s conversion of loan stock and that is the only influence on our estimates for subsequent years where we retain a conservative stance and note future investment in the Accolade platform.
SPE will report its final results on 22 March 2018.
.png)
