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Sopheon PLC - Minnesota, US-based enterprise software provider - Since the start of 2022, company has sealed six new customer wins, compared to 10 in the whole of 2022. Annual recurring revenue in the five months to the end of May rises to $21.7 million from $19 million a year ago. Gross retention holds above 98% on a year-to-date basis. Sopheon explains that a lower share of one-off revenue contributions from perpetual and consulting sales in the year-to-date means that full year visibility for 2022 revenue is currently at $28 million, a similar level to this time last year.
Chair Andy Michuda says: ‘Sopheon's shift towards a pure play SaaS model and associated ARR growth is moving forward as planned, supported by delivery of two key acquisitions in ROI Blueprints and most recently Solverboard. We see growing commercial traction on both sides of the Atlantic, responding to our broader product offering and our more assertive marketing investment, and we remain focused on exploring other additive M&A opportunities.’
Current stock price: 550.00 pence, down 1.2% in London
12-month change: down 41%
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