Rosslyn Data Technology (LON:RDT) said its order pipeline is “healthy and growing” as it confirmed it remained on target to be cash flow break-even in the “next financial year”.
The update came in the full-year results statement, which showed the company’s main products, the RAPid Big Data platform, and RAPid Data Extract Studio (a new self-service tool), were gaining traction in the market.
Rosslyn, whose platforms enable big companies to make sense of myriad different data streams, has secured partnerships with the professional services firm PwC, the outsourcing specialist Genpact and is a Microsoft red carpet partner.
It has won business from big blue-chip firms including Anglo American and Kingfisher as well as an unnamed global manufacturer.
After the period-end it landed a significant white-label deal with a Middle Eastern partner.
Its revenues for the 12 months ended October 31 rose almost 46% to £1.8mln, though like most firms at this formative stage of development it was loss-making – to the tune of £1.3mln at the pre-tax level. The deficit narrowed 22%.
As at the financial year end it had £2.6mln of cash.
Chief executive Charles Clark told investors: "The RAPid platform is emerging as a recognised and well regarded technology in this large, growing market place and, through our continued and disciplined execution, we expect progress to continue.
"Our target of achieving cash flow break-even during the next financial year remains on track and this combination of progress and opportunity does, we believe, put the Company in an exciting position for the rest of this year and beyond."