Blue Prism unfazed by widening losses
Robotic process automation (RPA) specialist Blue Prism says it has made strong progress and sales momentum with existing and new customers has increased, despite an increasing adjusted EBITDA loss of £2.7m from £1.4m.
Half-year results to April 30 reflect a 133% increase in revenue to £9.3m (H1 2016: £4m).
The Newton-le-Willows, Merseyside company completed 209 deals, securing 118 new customers and completed 83 “upsells” across 53 customers.
There were eight renewals, representing a 100% renewal rate.
Its customer base now stands at 271 (H1 2016: 90). Its total US customer base now stands at 58, with additional territories Australia, Japan and India now targeted.
Chief executive Alastair Bathgate said: “We have made strong progress during the first half and are pleased to see the sales momentum within our business continue to build.
“Our indirect go to market strategy has been a key enabler of this progress, and we continue to invest in upskilling and engaging our global and international partners, so that together we can be increasingly effective in delivering transformational solutions.
“The RPA market continues to expand rapidly and our strong sales pipeline gives us confidence for further growth in the second half of 2017.
“Our strong, differentiated and widely applicable product, highly motivated and talented team and global partner and customer relationships make for a strong foundation to build upon.”
