SMRT has released an encouraging y/e update, announcing expected revs of £4.6m (PY: £5.1m) and within which, SaaS revenue (from SwipedOn and Space Connect) has almost doubled from £1.3m to £2.3m. ARR also reflects this progress - £2.9m at y/e, ~+60% y/y gr‘th. Additionally, closing gross cash of £4.5m (~£4.1m net) highlights progress on profitability, as implies £2.3m of FCF burn - materially better than FY20. On current trading, SMRT note a “noticeable increase in activity“ driven by customers ....
11 Mar 2021
‘21 update: strong SaaS ARR, reintroducing forecasts
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‘21 update: strong SaaS ARR, reintroducing forecasts
Smartspace Software Plc (SMRT:LON) | 87.5 0 0.0% | Mkt Cap: 25.3m
- Published:
11 Mar 2021 -
Author:
Caspar Erskine | Harold Evans | Kevin Ashton -
Pages:
3
SMRT has released an encouraging y/e update, announcing expected revs of £4.6m (PY: £5.1m) and within which, SaaS revenue (from SwipedOn and Space Connect) has almost doubled from £1.3m to £2.3m. ARR also reflects this progress - £2.9m at y/e, ~+60% y/y gr‘th. Additionally, closing gross cash of £4.5m (~£4.1m net) highlights progress on profitability, as implies £2.3m of FCF burn - materially better than FY20. On current trading, SMRT note a “noticeable increase in activity“ driven by customers ....