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Online education company Dev Clever upgraded its full-year guidance on the core earnings after revenue soared year-on-year as new business wins bolstered performance.
'Adjusted EBITDA is expected to be materially ahead of management's expectation,' the company said.
For the financial year ended 31 October 2021, revenue was expected to have grown about 500% to £7.4 million.
The company ended the year with net cash of £7.5 million.
'During FY21, Dev Clever made substantial operational progress with its bespoke partnership model and relationship agreements with Veative Laboratories, the National Independent Schools Alliance Aldebaron DMCC and the CSC Academy in India, as well as building on its existing market positions in the UK and US,' the company said.