27 June 2022

Pelatro Plc ("Pelatro" or the "Group")

AGM statement

At Pelatro's Annual General Meeting ("AGM") to be held later today, Chairman, Richard Day, will give the following update on trading:

Current trading

The contracts announced in the last month in both the telco and the non-telco space demonstrate our continuing success in building the Group's recurring revenue base. With these, the Group now has 25 customers and a current ARR of c. $6.8m. We have been rolling out our non-telco offering, giving us a broader range of operations with an exciting suite of products and services for our growing list of customers.   

In addition to these, we continue to see strong demand from our existing customers for change requests and have booked around $0.75m already this year in respect of this revenue, with another $0.5m in contracting stage.

Outlook for the year

We remain optimistic about the prospects for the telecommunications industry, and increasingly about our ability to access and satisfy the demand in non-telco industries such as financial services. Given this we are confident of delivering a performance in line with expectations for 2022.

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Notes to editors

The Pelatro Group was founded in March 2013 by Subash Menon and Sudeesh Yezhuvath with the objective of offering specialised, enterprise class software solutions for customer engagement principally to telcos who face a series of challenges including market maturity, saturation and customer churn.

Pelatro provides its "mViva" platform for use by customers in B2C and B2B applications and is well positioned in the Customer Engagement space. Our technology orchestrates the digital journey of the customers of the telcos through contextual, relevant and real time offers and loyalty programs across multiple channels including websites, social media, apps and others.

For more information about Pelatro, visit www.pelatro.com