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Technology company KRM22 reported a wider losses as costs soared offsetting
The company saw pre-tax losses widen to £5.43m from £6,000 a year earlier and generated revenue of £1.3m for the year ended 31 December, of which 87% was from recurring customer contracts.
The uptick in revenue was offset by ramp in costs, including depreciation and amortisation of £0.5m, impairment charges of £0.1m; non-recurring costs of acquisitions £0.5, non-recurring costs of IPO funding £0.3m; and share based payment cost £0.7m.
Looking ahead, the company said it was focused on 'growing our recurring revenue through our strong sales pipeline of cross-selling opportunities and attracting new customers. We aim to become cash-flow positive, in run rate terms, in Q2 2020 and be profitable in 2021.'
At 10:01am: (LON:KRM) Krm22 Plc Ord 10p share price was 0p at 75.5p