Actual Experience revenue up marginally as it refocuses sales efforts
Analytics-as-a-service company Actual Experience announced its preliminary results for the year to 30 September on Thursday, highlighting the signing of a third multi-year framework agreement with Vodafone during the period.
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The AIM-traded firm said subsequent to year-end, it signed a fourth multi-year agreement with Accenture, and was making ongoing progress towards commercialisation within two existing channel partners - Verizon Enterprise Solutions, and an unnamed “leading global brand”.
It also confirmed a significant white-labelling project with a Fortune 100 global technology company.
The board also reported continued investment to ensure readiness for channel partners entering the revenue-generation phase, including augmenting its leadership team, introducing enhanced structures and processes, moving to a new headquarters, investing in 24/7 customer support, scaling its datacentre operations and creating a global sales structure
To support live operation with its global channels, it has increased the focus on scaling and technical security within its datacentres, developed the first mobile digital user, has worked on transforming the user interface, and continued to improve its algorithms.
Revenue for the year was £0.72m, up from £0.70m, with 60% of the revenue being derived from channel customers, significantly up from 33%.
“2016 has been a year of significant progress for Actual Experience,” said CEO Dave Page.
“We have considerably enhanced our scalability as a business while receiving strong market endorsement for our digital analytics service through the signing of two further major channel partner agreements, bringing the total to four major channel partners.
“These agreements mean that some of the world's largest services companies, such as Vodafone, Verizon and Accenture are now actively preparing to take our offering out to their global customer bases, either directly or integrated within their offerings.”
Page said the channel partner agreements that the company has signed, and he believes the sheer size of the pipeline for potential customers that each represents vindicates the board's decision to focus sales efforts solely on channel partners rather than through selling direct to individual customers.
“Revenues to date bear no resemblance to the market opportunity nor to the progress being made within each of our agreements, and it is this progress that underlines our belief that we are on the right path towards building a business of real scale.”