KRM22 PLC (AIM:KRM), the risk management software specialist, said it made good progress in the first six months of 2021 even with delays to some large deals with banks.
Keith Todd, executive chairman and chief executive, said the business had expanded its offering, improved the quality of recurring revenue and maintained a tight handle on costs.
“Delays in signing some larger orders is frustrating but larger customers will lay the bedrock for further shareholder value creation in the future," he added.
Revenue in the half-year to June 2021 was £2.2mln (£2.3mln) while annualised recurring revenue was £3.7mln (£4mln), which has since risen to £3.9mln following the signing of a three-year contract with a tier-one customer.
Interim losses rose to £1.7mln (£1.2mln) with underlying losses flat at £300,000.
Going forward, KRM22 said its markets were adapting to the changes brought about by the Coronavirus (COVID-19) pandemic and it anticipates an increase in new projects and opportunities especially heading into 2022.