Netcall (NET) Trading Update summary

Financial performance

• Revenue for FY24 expected to rise 9% to £39.1m, with cloud customer revenue up 19%.

• Adjusted EBITDA projected to grow 5% to £8.4m, in line with market expectations.

• Cloud annual contract value (ACV) increased 23% to £22.3m, total ACV up 15% to £32.2m.

• Year-end cash position improved to £34.0m, surpassing the previous year's £24.8m.

Strategic initiatives and product development

• Significant investment in the Liberty platform, including launch of Liberty Converse CX and AI integration.

• Ongoing customer-led innovations and developments to enhance offerings.

Market and operational highlights

• Strong demand from new cloud customers and a growing subscription revenue base.

• Successful integration of Skore Labs acquisition, expanding market opportunity and cross-sell potential.

• Favourable market drivers and a growing customer base support continued growth.