Sopheon Announces Results for 2021
24 Março 2022 - 10:04AM
Sopheon plc, the international provider of software and services
for Enterprise Innovation Management solutions, today announced its
results for the year ended December 31, 2021, together with an
outlook for the current year.
Financial Highlights:
- Revenue of $34.4m, ahead of market
expectations in the face of continued COVID challenges, whilst
embedding the SaaS transition (2020: $30.0m)
- ARR1 rose from $18.0m at the start
of 2021 to $20.7m at the end of the year
- Full year 2022 revenue visibility2
stands at $25.1m (last year at this time: $24.5m)
- Gross retention at 95% (2020:
91.5%)
- Adjusted EBITDA3 of $6.2m (2020:
$5.9m) also ahead of market expectations
- Profit before tax of $1.2m (2020:
$1.7m) affected by higher amortization and share based
payments
- Net cash of $24.2m (2020: $21.7m)
and the Group has no debt
- Dividend to be maintained at 3.25p
per share (2020: 3.25p)
Operational Highlights
- 10 new customer wins of which 9 were
SaaS, driving rising quality of earnings and demonstrating the
successful shift to a SaaS model. Looking forward, the license
pipeline for new customers approaching 90% SaaS. Another six
existing clients (2020: 4) were converted to SaaS as part of the
Group’s SaaS Uplift program.
- Acceleration of product investment
resulted in a higher delivery pace for enterprise Accolade
releases. In parallel, investment in cloud-native solutions, with a
first application targeted at expanding the Accolade user
community. Initial application to launch mid-2022.
- We stepped up
marketing programs and investment significantly in 2021 to extend
market reach, prospect engagement and ultimately lead generation.
This expanded go-to-market strategy is geared to increase new
customer acquisition, reducing reliance on large customers who
require particular capabilities, and to address a broader target
market in order to improve scalability and predictability.
- The acquisition
of ROI Blueprints business added deep project management capability
eliminating the need for customer purchase and integration of
third-party tools in that area.
- Greg Coticchia
was appointed CEO during the year, also introducing new leadership
in sales, marketing and product areas.
“2021 was a year of new leadership, new
processes, new programs, and extensive organizational change,
together with solid financial outcomes and an initial acquisition,”
said Andy Michuda, Chairman of Sopheon. “With the initiation of
change behind us and the organizational structure and leadership in
place, 2022 is very much focused on accelerating and
operationalizing the effectiveness of this change. I believe that
the future is bright for Sopheon and for Sopheon shareholders.”
To review the financial release in its entirety, please visit
here.
To learn more about how Sopheon is transforming enterprise
innovation, visit our website at www.sopheon.com.
ABOUT SOPHEON
Sopheon (LON: SPE) partners with customers to provide complete
Enterprise Innovation Management solutions, including software,
expertise, and best practices to achieve exceptional long-term
revenue growth and profitability. Sopheon’s Accolade solution
provides unique, fully-integrated coverage for the entire
innovation management and new product development life cycle,
including strategic innovation planning, roadmapping, idea and
concept development, process and project management, portfolio
management, and resource planning. Sopheon’s solutions have been
implemented by over 250 customers with more than 60,000 users in
over 50 countries. Sopheon is listed on the AIM Market of the
London Stock Exchange.
Media Contact
Chloe Shoobridge
Sopheon
Email: Chloe.Shoobridge@sopheon.com
1ARR is annual recurring revenue at a point in
time, being the value of recurring SaaS, maintenance and hosting
revenue streams normalized to a one-year period.
2Revenue visibility comprises revenue expected
from (i) closed license orders, including those which are
contracted but conditional on acceptance decisions scheduled later
in the year; (ii) contracted services business delivered or
expected to be delivered in the year; and (iii) recurring
maintenance, hosting, SaaS and rental streams. The visibility
calculation does not include revenues from new sales opportunities
expected to close during the remainder of the year.
3Adjusted EBITDA is defined as earnings
before interest, tax, depreciation, amortization and share-based
payment charges.
Sopheon® and Accolade® are registered trademarks
of Sopheon plc.
Special Opportunities (NYSE:SPE)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Special Opportunities (NYSE:SPE)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024