i-nexus Global PLC soared 23% to 3.6p after its results showed year-on-year growth in monthly recurring revenue (MRR).
The provider of cloud-based software solutions said MRR increased by 12% to £250,000, which was driven by a record number of new business wins and the expansion of existing customer relationships.
Additionally, the AIM-quoted company said that sales momentum continued into the start of the current financial year.
It said it signed a further three logos and one account expansion, producing net MRR growth of £12,000.
“Primed again to deliver double-digit net MRR growth in the financial year 2023, capitalising on the strong prospect pipeline and increased opportunities within our base,” a statement said.
"I am pleased to report on a year of solid progress at i-nexus, in which we delivered on all three areas of our strategic plan, resulting in growth in new business wins, a more stable cash runway, and greater clarity on our future direction,” said chief executive Simon Crowther.
“The growing interest in strategy software, the relaxation of enterprise software budgets, the enhancements we have made to our products and our increased sales and marketing skills, all combine to provide us with confidence in our outlook and ability to deliver another year of double digit MRR growth."