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DeepVerge forecasts 2021 revenue to more than double after maiden quarter of positive earnings
StockMarketWire.com
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Environmental and life science company DeepVerge forecast revenue for 2021 to more the double after turning in its maiden quarter of positive earnings in Q4 with annual revenue up more than 300%.
Strong sales in Q4 delivered first earnings before interest, taxes, depreciation, and amortisation, or EBITDA, profitable quarter, the company said.
Revenues jumped to £4.4 million from £1.017 million year-on-year.
Looking ahead to 2021, the company expected revenue to more than double to £10 million.
'The newly combined global footprint has extended Labskin's reach into the US, China and Japan, directly next to many of our largest clients,' the company said.
'Group sales, including recurring revenues, look set to continue strong growth as our order book of existing and new clients expands across the US, Asia and Europe,' it added.
At 9:12am: (LON:DVRG) share price was 0p at 22.5p
Story provided by StockMarketWire.com
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