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CloudCall 'confident' of stronger revenue growth in 2021 after annual losses widen
StockMarketWire.com
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Cloud-based software business CloudCall reported wider losses for 2020, but said it was 'confident' of delivering revenue growth of 18% in 2020 amid strong second-half performance.
The company said it was confident it would be able to deliver revenue of £14 million in 2021 representing growth of 18%, following the growth momentum generated in H2 2020.
The lost momentum, however, from the first half of 2020 'does mean that CloudCall's growth strategy has essentially been delayed by approximately one year,' the company said.
'[The] strong recovery in H2 2020 has continued into 2021 with performance since the end of the year in line with management expectations,' the company said.
The company also reported results for the 12 months ended 31 December, with losses widening to £5.7 million and revenues rising by 4% to £11.8 million year-on-year.
The number of end-users was up 14% to 48,255.
Looking further ahead, the company said it continued to target achieving monthly EBITDA breakeven by mid-2023.
At 9:13am: (LON:CALL) Cloudcall Group Plc share price was 0p at 90.5p
Story provided by StockMarketWire.com
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