Checkit continues to progress
Cambridge-headquartered Checkit, is a software provider that helps organisations manage operations in a hybrid working environment. Full year results out this morning outline a business on a path to profitabilitywith its SaaS pivot and focus on cost cutting starting to delivering results (SaaS move checking out for Checkit). Operationally, the business is focused on a productivity play […]
SAP cloud up 25% in Q1 24 but restructuring hammers profits
ERP specialist SAP has announced results for Q1 2024 (ended 31 March 2024). Total revenue was up 9% year-over-year in constant currency to €8bn, buoyed by double-digit growth in its cloud offerings (cloud revenue up 25% (cc) to €3.9bn, €3.8bn of which from Cloud ERP Suite – growing 32% in constant currency). The company reported […]
Government responds to Policing Productivity Review recommendations
The Home Office has published its response to the recommendations of the Policing Productivity Review (see Policing Productivity Review calls for greater investment in innovative technology), highlighting the crucial role of technology in improving police efficiency. The Government commissioned the independent Policing Productivity Review in August 2022. The final report, which was published in November […]
Unicorn Perplexity AI targets global expansion
California-based start-up Perplexity is a company you are likely to hear a great deal more about in the coming months. Despite being very much smaller and less capitalised than ChatGPT-maker OpenAI, not to mention Google, Perplexity is making waves in the AI-native search market. The 55-person business, which currently turns over c$20m, has captured both […]
1Spatial working to deliver on SaaS potential
Full year 2024 results out this morning from Cambridge-headquartered, AIM-listed geospatial software provider and data integrator 1Spatial, have the business heading in a SaaS-based direction, increasing Group revenue by 8% to £32.3m. Gross profit increased by 15% to £17.9m (2022 £15.5m), with a corresponding margin of 55.5% (2022 51.7%). Adjusted EBITDA was £5.5m (2022 £5m) held […]
ActiveOps updates on FY progress
AIM-listed ActiveOps, the ‘decision intelligence provider’ continues to execute on its growth strategy, updating the market this morning on an expected 5% uplift in Group Revenue, an 11% increase in SaaS revenue, whilst exit Annual Recurring Revenue (ARR) was up by 14% (all in Constant Currency over prior year). This should see Group Revenue climb to […]
Andreades signs off as Temenos delivers Q1 growth
Leading banking software provider, Temenos, has published its results for the first three months of its new fiscal highlighting improved profitability and modest revenue growth. The financials for the year to 31 March 2024 showed that Annual Recurring Revenue (the vendor’s preferred measure) was up 12% year-on-year to $723.1m whilst EBIT rose by 7% to […]
Tracsis still confident of an H2 uptick
The H1 results for Tracsis, the Leeds-HQ’d provider of software and services to the rail and transport industries, landed in line with the estimates provided in company’s February trading update (see here). Turnover for the six months ended 31st January was down 6.7% yoy to £36.5m and adjusted EBITDA decreased by 24% to £5.7m. The […]
Crown Hosting banks BoE contract
Crown Hosting Data Centres (CHDC) has won a significant contract with the Bank of England to provide Information Storage Co-location Services. The contract started on 1st March this year and will run until the end of February 2031 (seven years) and is valued at just over £22m. CHDC is a joint venture (JV) between the […]
£8m funding to boost AI in maritime industry
The UK government has launched an £8m Smart Shipping Acceleration Fund to drive maritime innovation and harness the benefits of AI to boost productivity. The Smart Shipping Acceleration Fund will kickstart feasibility studies to develop smart shipping technologies such as AI, robotics, and autonomous vessels. The winning projects will also require match funding – leveraging […]