4GLOBAL PLC (AIM:4GBL) is performing well and in line with market expectations in the current financial year, the sports analytics group said in a trading update posted on Wednesday.
New sales reached £2.2 million in the financial year to date, £1.8 million of which is expected to be realised in the current financial year ending 31 March 2024.
Total revenue booked to date this year have reached £3.3 million, reflecting new contracts secured and the recognition of revenues and contracts secured in prior periods.
As per previous years, 4GLOBAL is expected to retain a significant second-half weighting.
Revenue mix in the current financial year stands at 58% and 42% for technology and services respectively.
4GLOBAL has a sales pipeline of £5.3 million.
"4GLOBAL continues to go from strength to strength," said chief executive Eloy Mazon. “As a business we are not complacent, however our market and customers continue to have strong demand for both our technology and services.
“Technology revenue primarily however remains our key focus as we seek to increase our recurring revenue and margins."