Rosslyn Data Technologies PLC (LON:RDT), the provider of a cloud-based enterprise data analytics platform, was cash generative in the year ended 30 April.
Cash generated from operations totalled £220,000, compared to the year before when the company burned through cash of £3.45mln.
The company saw revenue grow 8.3% to £7.0mln from £6.4mln the year before on the back of annual licence fee revenue growth of 9.2% to £5.4mln from £5.0mln.
The loss before income tax narrowed significantly to £1.70mln from £3.69mln the previous year and the bulk of the loss was accounted for by £1.04mln in depreciation and amortisation (2018: £1.06mln).
Administrative expenses were cut by 10% to £6.0mln from £6.9mln the year before while at the same time the company invested substantial amounts in product development to broaden the scope of its RAPid platform.
"Our work in 2019 has laid a solid foundation from which to grow the business further. We are confident of continued growth as we engage in numerous large client opportunities that we hope to be able to announce later this year," said Roger Bullen, the chief executive of Rosslyn.
The company said it expects the current financial year to be one in which it generates positive operating cash flow but cautioned that it has made a slower start to the year than it had hoped.
“In summary, we are seeing the benefits from the investments that we have made. Our solutions and products are becoming extremely well known and recognised for innovation, and we have a strong unified team of people driving our growth,” Bullen said.