Sopheon PLC (AIM:SPE) saw over 10% added to its share price on Monday in a mark of confidence for the software company’s latest trading update.
Revenues for the year ended December 31, 2022, are expected to be in line with market expectations at around US$36.5mln (£29.4mln). On a constant currency basis, revenues would exceed market expectations, the company said.
Adjusted EBITDA is expected to approach US$7mln, exceeding expectations even after absorbing the write-down of costs arising from the group's original next-generation cloud platform, in light of the two recent acquisitions.
Sopheon shares were changing hands at 697p with a market value of £73.5mln as of mid-morning Monday.