Netcall revenue up to £13.4m

Netcall (AIM:NET), the customer experience software specialist, announced strong end of year results on Wednesday as the company was boosted by the growth of its cloud business. 

Netcall’s revenue was up by 9% in 2020 to £13.4m, while pre-tax profits rose to £0.96m from £0.14m the year before. 

The software company saw significant growth from its Intelligent Automation and Customer Engagement offerings with an increase in usership of both.  

The cloud services annual contract value (ACV) at 31 December 2020, rose by 25% to £8.4m. 

On market opening there was a surge in demand for Netcall shares following its positive results. The AIM-listed company’s share price reached 71.4p during early morning trading on Wednesday, a rise of over 4%. Before 10am Netcall’s share price retreated back to 67.2p, 1% up on yesterday’s close. 

Netcall has stated the company has a strong level of current trading and a healthy pipeline, while the board believes that adjusted EBITDA for 2021 will be ahead of its previous expectations. 

Henrik Bang, chief executive at Netcall, commented on the results:

“Netcall enjoyed a strong first half year performance delivering solid revenue and profit growth despite the ongoing impact of Covid-19 and traded comfortably in line with management expectations. We continued to experience robust demand from our main market segments of financial services, healthcare and government driven by cloud subscription contracts for both Intelligent Automation and Customer Engagement solutions.”

“As we continue to strengthen our product portfolio, such as the recent addition of Robotic Process Automation, we see an increasing number of customers combining the use of both our Intelligent Automation and Customer Engagement solutions, which supports our growth aspirations.”