Blue Prism Group plc - Year end results for the twelve months ended 31st October 2016 - Blue Prism
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Blue Prism Group plc – Year end results for the twelve months ended 31st October 2016

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Blue Prism Group plc – Year end results for the twelve months ended 31st October 2016

Blue Prism Group plc

(“Blue Prism” or the “Group”)

 Full Year Results

Blue Prism (AIM: PRSM), a global leader in Robotic Process Automation (“RPA”), is pleased to announce its full year results for the year ended 31 October 2016.

Financial Highlights

  • Total contracted revenue increased 205% to £35.2m (FY15: £11.5m)
  •  Recognised revenue increased 59% to £9.6m (FY15: £6.1m)
  • Recurring revenue now 85% of total revenues (FY15: 61%)
  • Exit recurring licence run-rate increased 143% to £946k per month at 31 October 2016 (31 October 2015: £390k per month)
  • Operating loss of £5.3m, after share-based costs of £362k and IPO costs of £502k (FY15 loss: £0.8m)
  • Adjusted operating loss of £4.4m (FY15: loss £0.7m)
  • Cash and cash equivalents at 31 October 2016 were £11.8m (31 October 2015: £2.4m)

Operational Highlights

  • Won 96 new customers, with 12 renewals and the total customer base increasing to 153 (FY15: 57)
  • 81 upsells across 47 existing customers
  • Continued growth in the US – won 18 new customers; 19 upsells
  • Over 90% of new customers acquired through channel partner ecosystem
  • Emerging and exciting global RPA market – increasing competition helping to validate the market
  • Successfully launched version 5.0 focusing on enterprise-level differentiators
  • Global employee base doubled from 43 to 86

Alastair Bathgate, CEO, commented:

“We are delighted with Blue Prism’s performance for the year ended 31 October 2016, our first as a publicly listed company. The Group outperformed its targets for the period across all areas of the business, both operationally and financially. Our strategy to move to a wholly indirect sales model has been very successful with our partner network delivering over 90% of new business in a year in which customer numbers increased by 96 to 153.

“The RPA market continues to grow, and whilst this is generating increased competition, we believe Blue Prism is well positioned and sufficiently differentiated to take advantage of this growth through continued product innovation and marketing. To drive continued growth in our indirect sales model, our primary investment focus remains on building our global sales team which manages our partner relationships.

“Taking into consideration the FY16 exit monthly run rate and assuming the ongoing momentum in new customer wins and upsells continues, we expect revenue for the current financial year to be comfortably ahead of existing market expectations.


Read the full release, including financial overview, here >


For further information please contact:

Blue Prism Group plc

Jason Kingdon, Chairman

Alastair Bathgate, Chief Executive Officer

Gary Johnson, Chief Financial Officer

 

via Newgate Communications

Investec Bank plc

Andrew Pinder

Sebastian Lawrence

Carlton Nelson

 

Tel: +44 (0)20 7597 4000

Newgate Communications

Bob Huxford / Adam Lloyd / Helena Bogle

Tel: +44 (0)20 7653 9850