logo-loader
viewLoopUp Group PLC

LoopUp in a sweet spot as remote working drives surge in sales

Snapshot

  • Conference call and remote meeting specialist
  • Launched video functionality and operator-assisted calls
  • Coronavirus has seen demand soar as more people work from home
Video conference call

Quick facts: LoopUp Group PLC

Price: 152 GBX

AIM:LOOP
Market: AIM
Market Cap: £84.16 m
Follow

What LoopUp does

LoopUp Group PLC (LON:LOOP) is a technology firm specialising in remote meetings and conference calls.

In a nutshell, the company’s core software-as-a-service (SaaS) product aims to make remote conferencing a whole lot simpler, and more productive.

It uses traditional telephony supplied by tier-one operators across four centres globally, but dialling into a call with an access code isn’t the preferred method for joining LoopUp meetings.

Instead, users simply click a web link and LoopUp will then call them on the phone of their choice.

Participants in the call are then displayed onscreen so people are able to know who is currently on the call and who is talking.

Users can even share biographical details via LinkedIn as well as documents and presentations via their desktops

LoopUp works with more than 20 of the world's top-100 law firms and over 20 of the world's top-100 private equity firms.

 

How it's doing

LoopUp reported trading had continued to be strong and it now expects to beat the forecasts it only raised in May.

In a trading update then, the AIM-listed group noted a material increase in business volumes, driven by the large-scale migration towards working from home associated with the COVID-19 outbreak.

The group said in teh June update it would beat prevailing market expectations in terms of revenue, EBITDA and cash generation for the 2020 financial year.

What the bosses say: Steve Flavell and Michael Hughes, co-CEOs

"The progression of key business metrics has led us to sharpen our focus on serving and further strengthening our position within the Professional Services market”.

Inflexion points

  • COVID-19 restrictions have driven a surge in usage of Loopup's service
  • Market share continues to increase as more customers are added
  • Remote conferencing set to become a feature of working life after COVID-19

 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of LoopUp Group PLC named herein, including the promotion by the Company of LoopUp Group PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: FTSE 100 falls as COVID-19 cases keep rising

Headlines from the Proactive UK newsroom. The FTSE 100 slumped more than 100 points as the rate of new coronavirus cases especially in the US caused more concern. The blue-chip index was 120 points lower at 6,199. Reflecting the unease, gold jumped to a new recent high of US$1,770 per...

2 weeks, 6 days ago

2 min read