Sopheon plc, the international provider of software and services for complete Enterprise Innovation Management solutions, issues the following trading update for the six months to 30 June 2018.
In our Annual General Meeting announcement issued on 7 June, we noted that the positive momentum from 2017 had continued into the current year and that full year 2018 revenue visibility had risen to $23.5m compared to $17.5m the year before, an all time high. We are delighted to report that following a good close to June, revenue visibility now stands at $26.5m.
As we start the second half of the year, sales activity remains high and the board remains confident that the Company is trading comfortably in line with expectations.
With this progress, we expect revenue, EBITDA and profit before tax for the first half of 2018 to be significantly ahead of prior year performance for the corresponding period.
Net cash at 30 June 2018 stood at $15.5m, compared to $9.5m at 31 December 2017, and $6.6m at 30 June 2017.
Further details of the results for the six months to 30 June 2018 will be provided in our interim financial report, scheduled for release on 23 August 2018. Expectations noted above are subject to completion of the period-end financial close and auditor review processes.
For Further Information Contact:
| Barry Mence, Chairman Arif Karimjee, CFO |
Sopheon plc | + 44 (0) 1276 919 560 |
| Carl Holmes / Giles Rolls (corporate finance) Alice Lane (ECM) |
finnCap | + 44 (0) 20 7220 0500 |
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
About Sopheon
Sopheon (LSE: SPE) partners with customers to provide complete enterprise innovation management solutions including software, expertise, and best practices, that enable them to achieve exceptional long-term revenue growth and profitability. Sopheon’s Accolade solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle, including strategic innovation planning, roadmapping, idea and concept development, process and project management, portfolio management and resource planning. Sopheon’s solutions have been implemented by over 200 customers with over 60,000 users in over 50 countries. Sopheon is listed on AIM, operated by the London Stock Exchange.
Revenue visibility is defined on page 6 of Sopheon’s 2017 annual report which is available from the investor section of www.sopheon.com/financial-reports/ .