Recurring revenue grew by 48% to represent 44% of H1 sales, reflecting an ongoing shift to SaaS and the acquisition of Elaxy BS&S. However, due to uncertainties over the timing of new contracts and the magnitude of the shift to SaaS, management has reduced its FY19 EBITDA guidance and deferred its long-term projections until later in the year. We have cut our EBITDA forecasts by 25% in FY20 and by 26% FY21. Nevertheless, the digital banking industry dynamics remain attractive and pure-pla
28 Mar 2019
CREALOGIX Group - Recurring revenue jumps 48%
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CREALOGIX Group - Recurring revenue jumps 48%
Recurring revenue grew by 48% to represent 44% of H1 sales, reflecting an ongoing shift to SaaS and the acquisition of Elaxy BS&S. However, due to uncertainties over the timing of new contracts and the magnitude of the shift to SaaS, management has reduced its FY19 EBITDA guidance and deferred its long-term projections until later in the year. We have cut our EBITDA forecasts by 25% in FY20 and by 26% FY21. Nevertheless, the digital banking industry dynamics remain attractive and pure-pla