Pelatro PLC (AIM:PTRO, FRA:7ZB) (AIM:PTRO) said it is confident it will meet its revenue target for the year, currently expected to be around US$7.2mln.
The marketing software specialist has been making additional revenue from existing managed services contracts, as they had provisions for payments to go over and above the minimum set by the contract.
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Customer activity has continued throughout the summer months, including various new change requests which will be delivered in 2021.
Following the equity fundraise in July, the group has started investing more in people and marketing in the "Non Telco" space, which is where non telco brand campaigns and adverts are sent to consumers via their mobile phones.
To date, the AIM-listed firm has hired two people, including a senior manager with 12 years of relevant experience who is heading the team. Discussions are underway with prospective customers and it is “encouraged” by the level of engagement.
"We are seeing real momentum in our business and continue to build our work-in-progress pipeline to secure and underpin our ongoing and expanding operations,” said managing director and chief executive Subash Menon.
Shares advanced 5% to 42p on Monday at the opening bell.