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Software and services company Gresham Technologies said annual performance was ahead of market expectations following 'strong' performance in the fourth quarter.
'Revenues, earnings and net cash are all ahead of current market expectations as a result of an excellent performance across all lines of business, including our recent acquisitions,' the company said.
Forward-looking Clareti annualised recurring revenue as at 31 December 2021 was expected to be up 95% to £24.0 million.
Revenues were forecast to rise 48% to £36.8 million, with Clareti revenues up 63% to £25.2 million
Adjusted earnings before interest, taxation, depreciation and amortisation, or EBITDA, was expected to increase 58% to £7.1 million and cash EBITDA to £2.4 million from £0.3 million in 2020.