Introduction
Eagle Eye Solutions Group, a leading marketing-software company based in the UK, announced on Tuesday that it anticipates a significant increase in revenue for fiscal 2023. The company has experienced strong momentum throughout the year and is starting the new financial year in a position of great strength.
Revenue Growth
For the fiscal year ended June 30, Eagle Eye Solutions Group expects to report revenue of £43.1 million ($55.4 million), a substantial increase from the £31.7 million recorded for fiscal 2022. This growth can be attributed to various factors, including an increase in recurring revenue.
Recurring Revenue Increase
Recurring revenue, which includes subscription fees and transactions, has risen by 3 percentage points to reach a level of 79%. The company continues to benefit from high levels of recurring revenue, providing a solid foundation for sustained positive performance. Additionally, Eagle Eye Solutions Group expects to see good growth in annual recurring revenues and a continued strong net revenue retention metric.
Adjusted Earnings
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 32% to £8.6 million. This metric removes exceptional and other one-off items to provide a clearer understanding of the company’s performance.
CEO’s Perspective
Chief Executive Tim Mason emphasized the relevance of Eagle Eye Solutions Group’s services in the current economic climate. As consumers grapple with the impact of inflation and retailers seek innovative ways to leverage advancements in artificial intelligence (AI), the company’s ability to enable targeted, personalized promotions and loyalty campaigns becomes increasingly valuable. These circumstances present exciting growth opportunities for Eagle Eye Solutions Group.
Conclusion
Eagle Eye Solutions Group looks forward to reporting strong financial results for fiscal 2023, driven by their consistent revenue growth and optimistic outlook for the future.
