Maistro issued full year results for FY’18 highlighting revenue growth of 154% to £1.5m. Revenue growth was primarily driven by traction with its core customer (Revenues: £0.9m; 2017: £0.0m) fitting with management’s new, targeted ‘land and expand’ strategy. Cash-burn remained stable at £2.1m. During FY’18 the group completed a successful share issue raising £2.1m net of fees; the cash balance stood at £1.1m at year-end, with £0.9m of the raise collected in early 2019. We are encouraged by continued strong growth; however execution remains key, with performance against management’s strategic goals required to unlock value potential.
