Rosslyn Data Technologies PLC (LON:RDT) continues to see good take-up of its Cloud-based data analytics platform and reported a 37% increase in revenues in its year to end April.
The 'Big Data' group listed on AIM in April 2014 and said it had seen encouraging revenue growth since year end and expects to meet its goal to reach organic cash generation and profitability in the current financial year.
The loss before tax was £2.4mln versus a loss of £3.4mln the previous year, on revenues 37% higher at ££3.9mln - in line with forecasts.
It had £1.9mln in cash at year-end (2015: £4.7mln), while gross remain strong at 87.5%% (2015: 84.3%), it added.
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The churn rate, or the amount of customers lost, was below 5%.
Rosslyln noted that the high levels of contracted recurring revenues and low churn rates provide good visibility on the firm's turnover.
"During the period the majority of direct contracts signed were multi-year deals, and the revenue per contracted year has increased to circa £65K vs (2015 £54K). We are encouraged by the size of the pipeline we are seeing coming through our direct and indirect sales channels and the growth of the average contract value," it said.
To give an idea of the breadth of product adoption, in July the firm said one in ten FTSE 100 companies was now using its RAPid cloud analytics platform.
It formed new partnerships in the year with Microsoft and Deloittes USA and said it continued its hunt for new partners and was in advanced talks with a significant US based strategic partner.
Rosslyn helps make sense of the welter of information stored within a business allowing a client company can go out and sell more products or purchase more effectively. In other words the benefits of its analysis are tangible.
The company is borne of an era when IT teams are shrinking yet the demand for meaningful commercial information has never been greater.
Share were unchanged on the day at 10.5p each.