With FY19 in line with its targets, Idox is ready to continue the process of shifting to a recurring or SaaS revenue model over the coming years. Today’s trading update points to end Oct run-rate ARR of £38.9m, up 16% organic yoy, with a contracted order book of £12.1m up 29% underpinning the outlook for continued growth. We expect the shift to a cloud-first, SaaS revenue model will both accelerate growth and reduce costs. This makes the forward FCF yield of some 7% notewort
25 Nov 2019
FY19 a solid platform for continued transformation
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FY19 a solid platform for continued transformation
Idox plc (IDOX:LON) | 62.4 0.5 1.3% | Mkt Cap: 286.6m
- Published:
25 Nov 2019 -
Author:
Harold Evans -
Pages:
3
With FY19 in line with its targets, Idox is ready to continue the process of shifting to a recurring or SaaS revenue model over the coming years. Today’s trading update points to end Oct run-rate ARR of £38.9m, up 16% organic yoy, with a contracted order book of £12.1m up 29% underpinning the outlook for continued growth. We expect the shift to a cloud-first, SaaS revenue model will both accelerate growth and reduce costs. This makes the forward FCF yield of some 7% notewort