Sopheon, the international provider of software, expertise, and best practices for Enterprise Innovation Performance, is pleased to provide the following trading update for the year ended 31 December 2018.
In the trading update issued on 8 October 2018, we noted that record third quarter performance had taken revenue visibility1 for 2018 above $30m, leading to an upgrade of market expectations2 for the year. We are pleased to report continued commercial delivery in the final months of the year, evidenced by the recently announced partnership with global confectioner The Hershey Company. Accordingly, we expect that revenue for the year ended 31 December 2018 will be comfortably in line with the already upgraded market expectations, and early indications are for a stronger outperformance at the EBITDA and pre-tax profit levels.
Financial expectations noted above are preliminary, and subject to year-end financial close and audit review processes. Further information will be provided towards the end of January 2019 in a more detailed trading update, and in line with our normal reporting schedule, Sopheon plans to issue its 2018 results on 21 March 2019.
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 / Sunila de Silva (ECM) |
finnCap Ltd | + 44 (0) 20 7220 0500 |
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.
1 Revenue visibility is defined on page 6 of Sopheon’s 2017 annual report which is available from the investor section of www.sopheon.com.
2 Market expectations mean the current forecasts from analysts that cover Sopheon, being at this time finnCap and Progressive. Links to these forecasts are available in the investor section of www.sopheon.com.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.