Blue Prism hits the ground running

Robotic process automation specialist Blue Prism has seen the positive momentum of its first year as a listed company continue into the first quarter of 2017, and it already expects full year revenues to be ahead of market expectations.

The Newton-le-Willows, Merseyside company secured 83 new software deals in the quarter, of which 49 were new customers and 34 were upsells to existing customers.

In its first full year as a public company, Blue Prism outperformed targets, as total contracted revenue increased 205% to £35.2m for the year ended October 31, 2016.

However, it made an operating loss of £5.3m after share-based costs of £362,000 and IPO costs of £502,000 were taken into account, compared to a loss of £800,000 in the prior year.

Alastair Bathgate, chief executive of Blue Prism, said:  “We are pleased to report that the strong momentum we experienced in 2016 has continued into the current financial year. We have a strong pipeline and look forward to the remainder of 2017 with confidence.”