Shares in IQGeo Group PLC (AIM:IQG) rose by 5% to a new high after the productivity and collaboration software specialist weighed in with a strong set of prelims.
In the update, IQGeo confirmed its current trading was in line with management forecasts, buoyed by a record order intake of £57.2 million.
The company reported a 67% increase in revenue to £44.5 million, with underlying earnings (EBITDA) more than tripling to £6.6 million for the 12 months ending December 31, up from £1.9 million in the previous year.
IQGeo also highlighted a strong financial position, being free cash flow positive with £11 million on the balance sheet and an exit run rate for annual recurring revenue of £21.3 million, marking a 41% increase.
In early afternoon trading the stock was changing hands for 405p, up 20p, and valuing the business at £250 million.