Pelatro shares spiked 22.6% to 23p in late afternoon trading on Monday, after the software group reported a revenue surge to $7.3 million compared to $4 million in its FY 2021.
The firm stated a recurring revenue of $4.8 million against $2.9 million year-on-year, along with an adjusted EBITDA of $2.8 million from $400,000 the previous year.
Pelatro announced an adjusted loss per share of 0.4c against 5.5c in 2020, representing a significant recovery for the marketing company on the back of three new customers, bringing its complete number of customers to 23.
The company also credited its recovery to a selection of recent contracts based in Asia and Africa in 2021.
The group added that it was currently processing the data of over one billion subscribers every day.
The firm reported an equity placing to raise $4.3 million to invest in its business and repay debt, with a current gross cash level of $3.3 million compared to $1.8 million the year before, and trade receivables of $5 million against $3.5 million in 2020.
Pelatro confirmed an ARR at 80% of its expected FY 2022 revenue, with a substantial order book and decent visibility over revenues for the upcoming months.
The software company further identified a new business pipeline of $17 million, alongside further drive into a fast-growing mobile advertising space.
“We are delighted to be able to show in these results figures which are in line with expectations; with solid growth in the revenue line of over 80% to $7.3m from $4.0m the previous year, with the majority being of a recurring revenue nature,” said Pelatro CEO Richard Day.
“The Group continues to trade in-line with expectations and our recurring revenue base gives us good visibility over the coming year and, together with our new business pipeline, gives us every confidence for the rest of 2022 and beyond”