LONDON (ShareCast) - (Sharecast News) - ActiveOps said in an update on Wednesday that it expects full-year revenue to come in comfortably ahead of market expectations after reporting strong double-digit growth and expanding its customer base across all regions in the first half of the year.
For the six months ended 30 September, the AIM-traded company said it expected to report revenue of around £20.8m, up 45% year on year, or 50% on a constant currency basis.

Organic revenue grew 34% on a constant currency basis to £18.7m, supported by expansion within existing enterprise accounts and new customer wins in EMEIA, North America and Asia-Pacific.

Software-as-a-service (SaaS) revenue rose 33% to £17.3m, with organic SaaS sales up 22%.

Annual recurring revenue increased 55% to £40.6m, or 27% organically, while net revenue retention improved to 116% from 108% a year earlier.

ActiveOps said it expected double-digit growth in adjusted EBITDA and a higher pre-tax profit for the half year.

The group, which provides 'decision intelligence' software for service operations, said the integration of Enlighten, the workforce optimisation company acquired in June, was progressing as planned.

While the business was incurring short-term integration and reorganisation costs, it expected to deliver "significant cost synergies" and operational efficiencies from the 2027 financial year.

The company remained debt-free at the period end, with cash of £13.3m after spending £5.5m to fund the acquisition.

"This has been an excellent first half for ActiveOps, marked by continued organic revenue and ARR growth, strong cash performance and further success in expanding our footprint with existing enterprise customers across all regions," said executive chair Richard Jeffery.

"We are particularly encouraged by the growing momentum in cross selling our product suite and the confidence this reflects in the scalability and value of our platform."

He added: "The acquisition of Enlighten represents a strengthening of our position in North America and APAC, as well as accelerating our software roadmap and expanding our customer base.

"With solid trading across our core regions and the integration of Enlighten progressing well, we enter the second half with confidence in our strategy, and the sustained business momentum evidenced over successive periods."

ActiveOps said it would publish its results for the half year to 30 September on 27 November.

At 1313 BST, shares in ActiveOps were up 27.06% at 216p.

Reporting by Josh White for Sharecast.com.

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