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CloudCall recovery in H2 2020 continued into 2021 as sales continue to grow
StockMarketWire.com
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Communications group CloudCall said the recovery seen in the second half of 2020 had continued into 2021, with sales activity continuing to strengthen across all territories.
'With both new business sales and upsells now running above pre-pandemic levels, revenue and platform usage is climbing steadily so that monthly recurring revenue, SMS and voice minutes are all at record highs and net renewal rates are back above 100%,' the company said.
The recruitment sector had enjoyed a powerful recovery with approximately 70% of recruitment firms expecting to grow revenues in 2021, while home working also boosted sales.
Operating costs were tracking in-line with our previous expectations for 2021 at ~11% operational expenditure growth - adding back the £1.3 million of one-time COVID-19 related savings in 2020.
'We continue to focus on our core financial objective to drive revenue growth of ~18% to ~£14+ million in 2021,' the company said.
In 2022, 'we believe we can achieve revenue growth of ~25% to ~£17.5million, whilst limiting operating costs growth to ~12% and are still targeting EBITDA break-even during 2023, it added.
'Our ambition remains to achieve a £50 million revenue run-rate during 2026.'
Story provided by StockMarketWire.com
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