Eagle Eye Solutions says "well-placed" for double-digit revenue growth

Eagle Eye Solutions Group PLC on Friday said it entered the new financial year with "strong momentum", amid a "differentiated" offering.

Eagle Eye shares were up 8.2% to 503.00 pence each on Friday afternoon in London. The company has a market capitalisation of £152.0 million. The stock has more than doubled from 232.00p a year ago.

The London-based loyalty software provider said trading for the financial year that ended June 30 was ahead of recently upgraded market expectations, with annual recurring revenue up 31% at £44.5 million from £34.0 million a year prior.

Total revenue slipped 3.1% to £46.7 million from £48.2 million. However, the company said this was better than market consensus of £45.4 million.

Underlying revenue, excluding the lost Neptune Retail Solutions contract, increased 21% to £46.1 million from £38.1 million.

Adjusted earnings before interest, tax, depreciation and amortisation fell to £9.8 million from £12.2 million the year before but ahead of market expectations of £7.0 million.

Net cash as at June 30 grew 31% to £16.1 million from £12.3 million, supported by strong second-half cash generation.

Looking ahead, the company said it entered the new financial year with "strong momentum".

Eagle Eye said major customer wins, expansion of business with existing clients, and the first contracts from its global original equipment manufacturer partnership leave it well-placed to return to double-digit revenue and Ebitda growth in financial 2027.

Chief Executive Tim Mason said: "With a differentiated and proven AI-powered offering, growing recurring revenue and strengthened partner ecosystem, we believe Eagle Eye is well positioned to deliver the next phase of profitable growth."

The company expects to release its full annual results on September 15.

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