Netcall forecasts rise in annual revenue; boosts cash holdings

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Customer engagement software group Netcall said it expected to post a rise in full-year revenue.

Revenue for the year through June was expected to reach £22.9m, up from £21.9m on-year.

Adjusted Ebitda was seen at £3.4m.

Netcall said its cash position was £7.8m, ahead of the board's expectations and more than offsetting the existing debt of £6.6m.

'We have seen strong growth in our key financial metrics of cloud services bookings and ACV as we continue to transition from a traditional software business to a growing digital cloud operation,' chief executive Henrik Bang said.

'The group's cloud services bookings exceeded traditional product sales for the full year which was mainly driven by strong Low-code sales to both new and existing customers.'

'The combination of our powerful customer engagement software and our leading low-code platform is a clear differentiator for Netcall in its market.'

At 9:16am: (LON:NET) Netcall PLC share price was +5.5p at 36p