Cyan - The transformation continues
The acquisition of I-New transforms Cyan’s scale and growth prospects still further. Recent interim results highlighted a business on track to exceed FY18 pro forma guidance of €20m and expand EBITDA margins significantly. With a largely recurring revenue base, orders with an annualised contract value (ACV) of over €6m already signed and a qualified pipeline of €100m in ACV, the company also appears well positioned to deliver FY19 revenue guidance of €35m (implying 75% y-o-y organic pro forma revenue growth).
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