LoopUp Group PLC (AIM:LOOP, OTC:LUPGF) said it expects revenue to fall less than expected but that it will still swing to a loss.
For the past calendar year, the cloud telephony company said revenue would come in at roughly £16.5mln, thanks to approximately £7.2mln in the fourth quarter, with the annual total down from £19.5mln the year before.
Adjusted losses (EBITDA) will be around £1mln, in line with market expectations, after the company reported a £1.5mln loss in the first half and a £1.2mln profit the prior year.
The stronger fourth quarter resulted from a revenue-sharing contract for its Meetings business with PGi Connect, where around 7,000 customers have transitioned to LoopUp since October 2021.
In its Cloud Telephone arm, 50 customers were added in the year, taking the total to 79 at the end of the year.
The shares rose 2% to 3.06p in early trading Tuesday.