Smartspace Software PLC (LSE:SMRT) surged 26% in early trading on the news that losses would be lower than the market expected.
Revenues for the workplace management software provider were up by 36% to £7mln in the year to January 31 and this meant that losses have been stemmed better than the market expected, it said.
This sent its AIM-traded shares climbing to 53.4p on Tuesday morning from their 42p close yesterday, before sliding back to 48p, a 14.3% gain.
The group said in a trading update that new signups in November had led to it being the “busiest month in over a year,” and that it had received an order from a “major UK education institution” in late January which could generate “significant” revenue next year.