Market's view on Activeops

Published on April 2024

  • ActiveOps plc reported an encouraging full-year trading update for the year ending 31 March 2024, highlighting a revenue increase to approximately £26.8m and a significant improvement in adjusted EBITDA to at least £2.2m.
  • The company experienced an 11% increase in SaaS revenue on a constant currency basis and a 14% increase in exit Annual Recurring Revenue compared to the previous year.
  • ActiveOps successfully secured three significant ControliQ enterprise contracts, demonstrating the solution’s enterprise-scale capabilities and rapid ROI delivery.
  • The company remains well-capitalised with a strong balance sheet, ending the year with £17.6m in cash.
  • A focus on AI and machine learning innovations is evident, with significant developments in product features aimed at enhancing customer value.
  • The appointment of a new Group Managing Director and other key regional leaders aims to drive further growth and strengthen the company’s global market presence.
  • ActiveOps is set to invest in its global sales operations to push organic growth, driven by a strong product roadmap and an increase in high-quality sales leads.
  • IT spending is expected to increase in 2024, potentially benefiting ActiveOps as digital transformation remains a priority for organisations.
  • Share price exhibited volatility with a notable upswing speculated to be linked to imminent contract news or market buyers.
  • Canaccord Genuity increased its holding in the company significantly, reflecting growing investor confidence.
  • The introduction of ControliQ Series 3 marks a significant milestone, enhancing the company’s offering with new AI capabilities aimed at improving back-office operations.
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