Blue Prism Group (PRSM)

Sector:

IT Services

Index:

FTSE AIM 50

1,105.00p
   
  • Change Today:
    -5.00p
  • 52 Week High: 1,886.00
  • 52 Week Low: 769.00
  • Currency: UK Pounds
  • Shares Issued: 96.89m
  • Volume: 318,461
  • Market Cap: £1,070.59m
  • RiskGrade: 282

Blue Prism on track for run-rate breakeven within the year

By Josh White

Date: Thursday 17 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Robotic automation technology company Blue Prism reported a 35% improvement in bookings in its first half on Thursday, to £98m.
The AIM-traded firm said group revenue was 24% higher year-on-year for the six months ended 30 April, at £80.4m, with recurring licence revenue share standing at 98%, compared to 97% a year earlier.

Its adjusted EBITDA loss narrowed to £8m from £32.8m, while its operating loss shrank to £20.9m from £53.8m in the first half of 2020.

Blue Prism used £8.1m cash in operations in its first half, compared to £31.2m year-on-year, while net cash at period end fell to £126.5m from £140.8m.

On the operational front, the company said it continued to strengthen long-term relationships with enterprise customers, with "significant" in-built opportunities for continued scaling.

It reported gross revenue retention of 98% and net revenue retention of 115%, adding that its top 50 customers spent an average of $1.5m per annum.

The company said it increased its investment in product and research and development, released 'version 7' of its technology in May, and planned to double product function headcount by the end of the calendar year.

Blue Prism said it was still planning to achieve exit run-rate underlying cash break even within the 2021 financial year, and continued to expect financial performance to be in the ranges outlined in its May trading update.

"We continue to attain strong retention metrics and new bookings for our Blue Prism Cloud (BPC) software-as-a-service (SaaS) platform grew 65% year-on-year, and accounted for 22% of new bookings for the period," said chairman and chief executive officer Jason Kingdon.

"Whilst remaining disciplined on spending and re-confirming our aim to be cash break-even by the end of the full financial period, we have significantly invested in research and development, enabling a record number of product releases to enhance scale and usability of the core product.

"With over 2,000 customers, we want to remain at the forefront of developing next generation intelligent automation, so we are reviewing our go-to-market model and the product and service formats to ensure we meet the needs for strategic transformation demanded in the C-suite."

At 0929 BST, shares in Blue Prism Group were up 6.68% to 958.5p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PRSM Market Data

Currency UK Pounds
Share Price 1,105.00p
Change Today -5.00p
% Change -0.45 %
52 Week High 1,886.00
52 Week Low 769.00
Volume 318,461
Shares Issued 96.89m
Market Cap £1,070.59m
RiskGrade 282

PRSM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
70.86% below the market average70.86% below the market average70.86% below the market average70.86% below the market average70.86% below the market average
64.81% below the sector average64.81% below the sector average64.81% below the sector average64.81% below the sector average64.81% below the sector average
Income Not Available
Growth
59.74% above the market average59.74% above the market average59.74% above the market average59.74% above the market average59.74% above the market average
79.17% above the sector average79.17% above the sector average79.17% above the sector average79.17% above the sector average79.17% above the sector average

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PRSM Dividends

No dividends found

Trades for 21-Sep-2021

Time Volume / Share Price
17:08 500 @ 1,105.00p
16:35 12 @ 1,105.00p
16:35 28,234 @ 1,105.00p
16:29 64 @ 1,106.00p
16:29 2 @ 1,106.00p

PRSM Key Personnel

CFO Ijoma Maluza

Top of Page