TIDMCALL
RNS Number : 5102Z
Cloudcall Group PLC
24 May 2021
24 May 2021
CloudCall Group plc
("CloudCall", the "Company" or the "Group")
AGM trading update and investor meeting
CloudCall (AIM: CALL), the integrated communications company
that provides unified communications and contact centre software
that integrates with Customer Relationship Management ("CRM")
platforms, provides a trading update covering the FY21 year-to-date
ahead of the Group's Annual General Meeting due to take place today
at 11.00 a.m. (UK time).
Trading update
Further to the Group's final results for the year ended 31
December 2020 that were published on 31 March 2021, the Group
confirms that trading for the year so far is in line with the
Board's expectations.
Simon Cleaver, CloudCall CEO, commented;
"CloudCall's well-documented 'year of two halves' is now firmly
in the rear-view mirror, and I'm delighted to report that the
deep-V recovery we saw in 2H 2020 has continued into 2021, with
sales activity continuing to strengthen across all territories.
The recruitment sector, still the mainstay of our target market,
has enjoyed a particularly powerful recovery with approximately 70%
of recruitment firms expecting to grow revenues in 2021*. This
remarkable recovery is one of the factors behind the increased new
customer wins and additional orders from existing customers that we
have witnessed since the beginning of the year.
With both new business sales and upsells now running above
pre-pandemic levels, revenue and platform usage is climbing
steadily so that monthly recurring revenue, SMS and voice minutes
are all at record highs and net renewal rates are back above
100%.
The other factor that's helping sales and bodes well for the
future, is home working. I believe remote and hybrid working
practices are here to stay and are a considerable contributor to
businesses accelerating their digital transformation with the
adoption of products like ours that help manage remote staff.
CloudCall's ability to link communications and CRMs is particularly
relevant in this new world.
We continue to focus on expanding our addressable market by
pursuing additional CRM partnerships and are particularly excited
by the level of engagement with Propertybase, taking us squarely
into the Real Estate vertical. With a potential target market of
200,000+ users, we are fully focused on ensuring that our
integration is built with customer's needs front and central and we
are about to embark on a beta program to ensure this is the case
before scaling the commercial launch in a few months' time.
Operating costs are tracking in-line with our previous
expectations for 2021 at 11 % OPEX growth - adding back the GBP1.3
million of one-time COVID-19 related savings in 2020. We continue
to focus on our core financial objective to drive revenue growth of
18% to GBP14+ million in 2021.
Furthermore, in 2022 we believe we can achieve revenue growth of
25% to GBP17.5million, whilst limiting operating costs growth to
12% and are still targeting EBITDA break-even during 2023. Our
ambition remains to achieve a GBP50 million revenue run-rate during
2026 ."
All numbers are calculated on a constant currency basis.
Investor Meeting
The Company will be hosting an interactive presentation through
the digital platform Investor Meet Company at 1.00 p.m. (UK) on
Monday 24 May 2020.
The Company is committed to ensuring that there are appropriate
communication structures for all elements of its shareholder base
so that its strategy, business model and performance are clearly
understood.
-- The online presentation is open to all existing and potential shareholders.
-- Questions can be submitted any time during the live
presentation, via the "Ask a Question" function. Whilst the Company
may not be in a position to answer every question it receives, it
will seek to respond to the most prominent questions within the
confines of information already disclosed to the market. Responses
to the Q&A from the live presentation will be published at the
earliest opportunity on the Investor Meet Company platform.
-- Investor feedback can also be submitted directly to
management post the event to ensure the company can understand the
views of all elements of its shareholder base.
Investors can sign up to Investor Meet Company for free and add
to meet CloudCall via:
https://www.investormeetcompany.com/cloudcall-group-plc/register-investor
Investors who have already registered and added to meet the
Company, will be automatically invited.
*Bullhorn's Global Recruitment Insights & Data survey
For further information, please contact:
CloudCall Group plc Tel: +44 (0)20 3587 7188
Simon Cleaver, Chief Executive Officer
Paul Williams, Chief Financial Officer
Canaccord Genuity Limited (Nominated Adviser Tel: +44 (0)20 7523 8000
and Sole Broker)
Simon Bridges
Richard Andrews
Thomas Diehl
About CloudCall Group Plc
CloudCall is a software and integrated communications business
that has developed and provides a suite of cloud-based software and
communications products and services. CloudCall's products and
services are aimed at enabling organisations to leverage their
customer data to enable more effective communications and improve
performance.
The CloudCall suite of software products allows companies to
fully integrate telephony, messaging and contact centre
capabilities into their existing customer relationship management
(CRM) software, enabling communications to be made, recorded,
logged and categorised from within the CRM system with detailed
activity reporting and powerful business intelligence capable of
being easily generated.
At the end of December 2020, the Company had approximately 160
staff based in Leicester (UK), Boston (US). Sydney (AUS) and Minsk
(BY) with over 48,000 end-users relying on CloudCall technology to
power their CRM integrated communications.
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END
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