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Access Intelligence's net ACV grows at accelerated pace

By Iain Gilbert

Date: Tuesday 10 Dec 2019

Access Intelligence's net ACV grows at accelerated pace

(Sharecast News) - Software-as-a-Service solutions provider Access Intelligence saw organic growth in its net annual contract value accelerate across the Vuelio and ResponseSource brands.
For the year ended 30 November, Access said ACV had grown 10% to £1.25m, while new business sales across the group increased more than 30% year-on-year and upsell sales almost doubled.

Total ACV for the Vuelio and ResponseSource businesses was approximately £13.6m, with management expecting total revenue for the businesses to be in the order of £12.7m - compared to the £8.9m recorded in the prior year.

Excluding the AIM-listed group's recent acquisition of Pulsar, adjusted underlying earnings were forecast to come in at around £1.1m - in line with market expectations.

Access Intelligence's net cash balance of £2.0m was slightly behind market expectations of £2.7m due to a timing difference on the receipt of a £400,000 research and development tax credit from HMRC.

Chief executive Joanna Arnold said: "Our continuing strategy of growing our core business through innovation, through technological advance and through niche, targeted acquisitions, is bringing further market differentiation to the business.

"Integration of our acquisitions is on track and we now have a substantial presence in our core markets."

As of 0940 GMT, Access Intelligence shares had dipped 0.56% to 53.20p.

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