The board expects that reported revenues for 2017 will exceed US$28mln, up from US$23mln in 2016.
Earnings before interest, tax, depreciation and amortisation (EBITDA) will be “significantly ahead of market expectations, as will pre-tax profits.
The net cash position at the end of 2017 was positive, at around US$9.5mln, up from US$4.2mln at the end of 2016.
“An important aspect of 2017 growth was the increased adoption of Accolade as an enterprise platform for areas outside our traditional innovation arena. Licences sold in 2017 included applications for Accolade as diverse as capital expenditure management, IP management, IT project and portfolio management and enterprise initiative management - each representing extension business beyond innovation,” Sopheon’s statement said.
Shares in Sopheon were up 16% at 570p in late morning trading.