Rosslyn Rosslyn Data Technologies PLC (AIM:RDT) said its order pipeline has jumped significantly over this time a year ago following a rebrand and re-focus on one single data platform.
Revenue for the year to end April 2022 will be around £5.9mln (against £7.4mln), which the business software specialist said was in line with market expectations and reflects the upgrade of the RAPiD platform taking longer than expected.
This will also affect the bottom line with underlying losses now expected between £3.2mln-£3.4mln (FY 21: £1.3mln), said the statement.
Rosslyn added its new platform delivers a simplified, more intuitive interface and streamlined navigation, making it easier for users to quickly gather the insight they need.
A number of major customers have now been onboarded, with one major BPO partner completing over 10 funded proofs-of-concept in the second half alone.
Two of these are now expected to move into production customers in the first quarter, it added.
Significant deals have also closed with two financial institutions since May and based on this increasing pipeline Rosslyn said it expects to see ‘meaningful’ revenue growth in the current twelve months compared to the financial year just ended.
Paul Watts, chief executive, added: “A significant amount of work has been put into modernising our platform.
“We now expect to start seeing the fruits of the labour come through in FY 23.
“Moving towards a partner-led business model, based on a procurement analytics market moving towards a best-of-breed approach to technology, is a paradigm shift for the group.
“Since the last quarter of FY 22, we have had a record number of new inbound opportunities, which I believe validates our strategy and underpins our confidence in the future."