Access Intelligence shares were up 0.4% to 104.9p in late afternoon trading on Friday, following a projected 195% increase in HY1 2022 revenue to £32.7 million in its recent trading update.
The software company highlighted progress on its integration of media monitoring group Isentia, alongside the launch of audience intelligence and social listening platform Pulsar in the Australian and New Zealand market, which brought higher levels of customer engagement.
“The Company continues to make good progress on the integration of Isentia and has been assessing its current business operations to ensure that it can fully optimise its market positioning to capture the undoubted market opportunity,” said Access Intelligence non-executive chairman Christopher Satterthwaite.
“This includes a comprehensive analysis of the current market dynamics across its regional presence. The Board remains highly confident about realising the cost synergies identified at the time of the acquisition.”
“The launch of Pulsar in ANZ has been well received and we expect the integration of the Company’s global product suite to support further progress in APAC with continued new customer wins.”
Access Intelligence reported an annual recurring revenue (ARR) of £59.6 million, representing a growth of £700,000 in the HY1 period, with an adjusted EBITA anticipated to hit £200,000.
The firm added that cash on 31 May 2022 was at least £9.2 million, exceeding board expectations as a result of better than anticipated working capital management.
The company mentioned growth across Europe, the Middle-East and Africa, with ARR at £28.1 million for the markets, representing a rise of £1.2 million. The board said it expected ARR growth to accelerate over HY2 2022 as its pipeline converted.
Access Intelligence also noted its recent global referral partnership arrangement with social media management platform Hootsuite, which it expects to introduce new business opportunities to the company, especially in North America.
New clients for the period included John Lewis, NHS Property Services, Procter and Gamble, Trustpilot, McCann-Erickson and Wateraid.
The group reported several challenges in the Asia-Pacific sector, with ARR sliding £500,000 to £31.5 million at the close of HY1 linked to continued socio-economic challenges in South-East Asia.
However, the company said the results marked a significant improvement from the last year. Its new clients in the sector included Chevron, Bulgari, Netflix, Nestle, Tiffany and Co, Estee Lauder, Lifeline Australia and Huawei.
“The first half of the year has seen the Group trade in line with expectations. We have delivered strong growth in the core business with a good performance being delivered by the Group’s EMEA and North America region including a significant number of blue-chip customers won in the period,” said Satterthwaite.
