Kalibrate fuels expectations with revenue growth

REVENUE growth across core markets is fuelling a solid performance from Kalibrate Technologies, the Manchester-based company which provides software to petrol retailers.

Updating the market on its performance for the period to June 30, Kalibrate said it expects revenue and EBITDA for the full year to be in line with market expectations.

“The group has continued to secure revenue growth in its core markets as well as in new geographies earmarked for expansion. Progress in transitioning clients from perpetual license deals to Software-as-a-Service (“SaaS”) agreements has also been faster than first expected,” the company said.

Annualised recurring revenues at June 30 stood at $21m compared to $19.6m a year ago, while the group’s order book has also increased by 15% year on year to $41.4m.

During the period, Kalibrate has seen revenue growth in both core geographies and new ones, with the company saying its market reputation in core markets such as North America and Europe “remains robust”.

The group secured new clients for its planning services in Bosnia, Bulgaria, Chile, the Czech Republic, Ireland, Kenya, Mexico, Romania and Serbia and has also begun to deploy its pricing services in Brazil.

Bob Stein, Kalibrate’s chief executive, said: “We are pleased to have delivered to the expectations set of us for this year. The past 12 months have seen us make rapid progress in our plans to secure business on new, more visible, more long-term SaaS relationships.

“It is a change that we have committed to make for Kalibrate’s long-term financial strength and our clients appear to have a strong appetite for it too. 2016 will see us continue to make this transition, allowing us to create a group that can deliver higher recurring revenues, even stronger client relationships and enhanced margins for the long term.”

Kalibrate expects to report results for the year ended June 30 2015 on September 8.