Sopheon PLC soars as EBITDA more than triples

Back in January the company advised full-year results would be "comfortably in line with current market expectations", and they were even better than that

Sopheon partners with customers to provide complete enterprise innovation management solutions

Product development software supplier Sopheon PLC (LON:SPE) moved firmly into the black in 2015 at the pre-tax level while underlying earnings (EBITDA) more than tripled.

Profit before tax was $1.20mln in 2015 versus a loss of $1.52mln the year before, while EBITDA surged to $4.2mln from $1.2mln.

Revenue grew to $20.9mln from $18.3mln, despite the strength throughout the year of the US dollar.

The group signed 14 new customers and closed another 28 transactions with existing customers during the year.

Its largest customer accounted for 11% of revenue, and no other customer was above 6%.

“The strengthening recurring base, along with a sizeable proportion of the work resulting from our 2015 successes, have carried over into 2016, giving revenue visibility above $12mln as compared to just over $10mln a year ago,” said company chairman Barry Mence.

“The board remains confident that Sopheon is on the right path, with strong momentum and pipeline for further advancement in 2016. We continue to expand resources in line with the growth areas of the business to support this strong momentum, and maintain our leading market position,” Mence added.

Shares shot up 38.5% to 99p in the first hour of trading.

Quick facts: Sopheon

Price: 787 GBX

Market: AIM
Market Cap: £80.29 m

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