Rosslyn Data Technologies PLC (AIM:RDT) expects all its key metrics to improve this year to end April as momentum builds for its new supply chain platform.
"We are receiving growing demand for our best-in-class procurement analytics solution both from new and existing customers," said Paul Watts, chief executive.
Sales in the 12 months to 2023 will be at least £2.9mln, Rosslyn said in a statement, with annual recurring revenue (ARR) of not less than £2.6mln (2022: £2.2mln) or a 20% rise.
This primarily reflects new customers but also existing customers increasing work utilising the new data platform.
Year to date, Rosslyn added it had won six new contracts worth £1.9mln in total and had several others in negotiation, though these will now likely fall into fiscal 2024.
Monthly burn has been reduced to approximately £190,000 (2022: £270,000) with cash of £0.8mln predicted for the year-end.
For the year to April 2023, Rosslyn now expects an underlying loss of £2.4mln (2022: £3.9mln loss) on an adjusted basis.
Watts added: "This has been a milestone year for Rosslyn as we completed a fundamental transformation and reintroduced ourselves with a new strategy.
“The response from our clients and marketplace has been excellent."