Aquis Exchange revenue up by 67%
Aquis Exchange (LON:AQX), the exchange services group, confirmed a strong performance for 2020 as the company released its financial results to 31 December 2020.
The AIM-listed company’s revenue climbed by 67% to £11.5m, up from £6.9m in 2019.
Aquis Exchange‘s EBITDA rose to £1.5m from £0.0m the year before, while its maiden full-year pre-tax profit swung to £0.5m from a £0.9m loss.
The firm’s cash and cash equivalents held steady, increasing by £1.3m to £12.3m at the year ending in December 2020.
Membership of Aquis Exchange grew to 33 in 2020, from 30 in 2019, and there was a 50% increase in the average monthly usage, in terms of chargeable orders from Q4 2019 to Q4 2020.
Aquis Technologies was chosen to deliver a world-leading proof of concept project, undertaken in collaboration with Singapore Exchange and Amazon Web Services, to create a cloud native exchange
The company’s share price is up by 4.56% to 596p in early morning trading on the release of the results.
Alasdair Haynes, chief executive of Aquis, commented on the reasons for the company’s success over the past financial year:
“For any founder it is a very proud day when you are able to announce your company’s first full year profit. The fact that Aquis has delivered this against the backdrop of COVID-19 and Brexit is even more remarkable and demonstrates the ongoing value of our offering,” Haynes said.
“We have again achieved growth in all our KPIs, and delivered financial progress across all the Group’s divisions, as our management team determinedly executes on strategy. Operationally we have achieved much this year, including the milestone acquisition of what is now Aquis Stock Exchange, our listing venue, and a world-leading proof of concept project in the technologies division. We strive to stay at the forefront of innovation in our industry and can see the reward this brings.”
“Momentum has carried into current trading, with strong performances across the Group and particularly notable progress in AQSE, which is now truly fit for purpose for modern-minded SMEs looking to float. We have a clear vision, excellent team and an exceptional drive to succeed. So, whilst the road ahead remains uncertain at a macro-economic level, we have confidence we have an exciting year in front of us.”
