Actual Experience plc (LON: ACT), the analytics as a service company, has today announced its preliminary results for the year ended 30 September 2018.
· Signed the first full-scale deployments of our analytics within the customers of two of our Channel Partners
o Engagement levels increased with these Channel Partners following deployments
o One of our Partners anticipates having their own internal revenue forecast for our product with resources committed wholly to us within their product and sales organisations
· Revenue of £1.08m (2017: £0.36m), following invoicing on one of our large-scale deployments with the second contributing to revenues in fiscal year 2019 and beyond
· Expansion of the open purchase order, demonstrating commercial confidence by our Partner in a developing order pipeline as they continue to build on early small-scale initial deployments of our analytics
· Developing a more robust sales process in partnership with certain Channel Partners
Dave Page, CEO of Actual Experience plc, said:
“Significant progress has been made in the development of our product and ensuring that the operational processes are in place to enable large scale deployments within our Channel Partners’ customer bases. This has been validated with the confirmation of two large scale deployments, the first of which has contributed meaningful revenues in the year under review, with the second due to contribute in the current year.
“We are confident that these initial deployments will serve as the start of a growing pipeline of deals and expect to see the number and rate of deployments increase gradually throughout FY’19, bringing another year of increased revenue and laying down Annual Recurring Revenue for the years to come.”