Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Geospatial software provider IQGeo said it expected to report first-half performance in line with expectations, following improved margins and revenue.
For the first half ended 30 June 2021, revenue was expected to be not less than £6.0 million, up from £4.7 million year-on-year.
IQGeo own product revenue expected to grow by over 50% to exceed £5.5 million, up from £3.6 million last year, while own product order intake grew by about 25% to £6.9 million, up from £5.5 million.
Annual recurring revenue order intake has increased by approximately 87% to approximately £1.5 million year-on-year.
Gross margins continued to improve and are anticipated to be approximately 60%, up from 51%, which is anticipated to result in a reduced adjusted EBITDA loss of up to £0.5 million, compared with £1.2 million last year.
'We look forward to the second half of the year with optimism and are confident of continuing to meet our expectations,' the company said.