Update: Recurring revenue run-rate jumps by 26%
Annualised recurring revenue (ARR) jumped by 26% in the year to 30 June, or 13% on a constant currency basis, to £36.2m. This incorporates Investor Analytics, which was acquired in January. Recurring revenue from cloud services now represents 38% of the total, up from 34% (on a proforma basis) in December. With the group’s transaction-based performance solution, Revolution Performance, due to be commercially launched in two months, StatPro is moving into its final stage of cloud transition, after eight years of planning and development. Hence, with StatPro’s US-based financial software peers and SaaS companies trading on lofty multiples, we continue to believe there is significant upside in the shares.Statpro Group is engaged in the development, marketing and distribution of software systems and the provision of cloud-based portfolio analysis and asset pricing services to the asset management industry.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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