Celebrus Technologies projects loss as accounting changes impact sales
Celebrus Technologies PLC on Thursday said it expects to report an annual pretax loss after revenue fell following a change in accounting treatments.
The Sunbury-on-Thames, England-based data management platform expects revenue of $23.3 million in the financial year to March, broadly in line with expectations, but down from $38.7 million the year prior.
Total revenue includes software revenue of $20.0 million, down on-year from $30.3 million, reflecting changes in the group’s contracts with customers.
From last April, Celebrus has introduced a number of changes to its commercial contractual arrangements with customers, which impact accounting for contracts. This includes the definition of cost of sales, the segmentation of revenue type and the move to straight-line revenue recognition of future license revenues.
Celebrus expects to report an adjusted pretax loss of $200,000, swung from a $8.7 million profit the year before, ‘slightly ahead of expectations and reflecting careful cost control through the second half.’
Year-end cash balances are $32.0 million, up slightly on-year from $31.5 million, and the group remains debt-free.
Looking ahead to financial 2027, Celebrus said it is focused on improving consistency in new business generation.
‘Our investment into Customer Success gives us confidence in our ability to retain customers, but we are faced with the challenge of building better consistency for winning new logos and have made several changes to support this. Our pipeline remains strong and we have started FY27 with a good influx of new leads,’ it added.
Shares in Celebrus were down 11% at 84.51 pence each in London on Thursday.
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