PCI-PAL PLC (AIM: PCIP), the customer engagement specialist that secures and protects payment card data for companies handling payments by phone, is pleased to announce a trading update for the financial year to 30 June 2019.
Key unaudited highlights for the year include:
- The Group has made significant progress worldwide both in growing new customer contract wins and further developing its channel partners.
- New contracts signed worldwide in the year have a Total Contract Value (TCV) of £5.58 million (2018: £1.72 million). Within that, North America accounted for £1.42 million (2018: £0.32 million), an encouraging performance in the North America team's first full year of trading.
- The recurring Annual Contract Value (ACV) of these new contracts signed by the Group was £1.88 million (2018: £0.47 million).
- Continued momentum in channel strategy execution since the half year which included adding global reseller agreements with leading CCaaS* vendors TalkDesk and 8X8, both of which led to early customer contract wins. Channel partners produced 85% of the recurring ACV of new contracts in FY 2019.
- Total contracted recurring ACV** now stands at £4.03 million (2018: £2.16 million) showing the progress being made towards our key goal of delivering sustainable cash generation followed by profitability.
- Loss before tax for the 12 months to 20 June 2019 expected to be in line with market expectations.
- Closing net cash was £1.49 million (30 June 2018: £3.75 million), trade debtors were £1.09 million (30 June 2018: £0.48 million) and closing deferred revenue increased to £2.45 million (30 June 2018: £1.13 million). The significant growth in deferred revenue is providing increased forward revenue visibility, reflecting the long-term recurring nature of the Group's business model.
Commenting on progress in the period, James Barham, Chief Executive Officer said:
"The significant progress made by the Company in the period is very exciting. We have continued to deliver on our stated ambitions: becoming the go-to global cloud provider to technology vendors wishing to provide secure phone payment solutions to their customers; rapidly growing our partner-led sales; and proving the agility and popularity of our AWS-based platform by delivering customer solutions across the world.
"I am especially pleased that we have almost doubled our total contracted recurring ACV as well as with the uptake in utilisation of our core AWS-based cloud platform that was launched in October 2017. With all new business provisioned from this platform, we now have live customers across all our cloud instances in EMEA, North America, and ANZ, including our largest ever customer signed to date."
Notice of Results
PCI Pal will announce its results for the financial year ending 30 June 2019 in the week beginning 7 October 2019.
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
* CCaaS is Contact Center as a Service
**Contracted ACV is the total annual recurring revenue of all signed contracts, whether invoiced and included in deferred revenue or still to be deployed and/or invoiced.
For further information, please contact:
Via Walbrook PR
James Barham - Chief Executive Officer
William Good - Chief Financial Officer
finnCap (Nominated Adviser and Broker)
+44 (0) 20 7227 0500
Marc Milmo/Simon Hicks (Corporate Finance)
Richard Chambers (Corporate Broking)
+44 (0) 20 7933 8780
Tom Cooper/Paul Vann
+44 (0) 797 122 1972
About PCI Pal:
PCI Pal is a specialist provider of secure payment solutions for contact centres and businesses taking Cardholder Not Present (CNP) payments. PCI Pal's globally accessible cloud platform empowers organisations to take payments securely without bringing their environments into scope of PCI DSS and other card payment data security rules and regulations.
With the entire product portfolio served from PCI Pal's cloud environment, integrations with existing telephony, payment, and desktop environments are light-touch, ensuring no degradation of service while achieving security and compliance.