18 October 2023

ActiveOps plc

("ActiveOps" or the "Company")

Trading Update

and Notice of Half Year Results

Group continues to deliver solid growth and is trading in line with expectations

ActiveOps plc (AIM: AOM), a leading provider of Decision Intelligence for service operations, today provides an update on trading for the six months ended 30 September 2023. The Board is pleased to report continued growth in the first half of FY24, with the Group well-placed to achieve both its revenue and EBITDA expectations for the full year.

The Group expects to report overall revenue growth of approximately 6% to c.£13.1m (H1 2023: £12.3m), and significant EBITDA growth (H1 2023: £0.3m).

SaaS revenues in the period were up over 7%, driving a 7% growth in exit Annual Recurring Revenue (ARR) to c.£23.7m (September 2022: £22.1m), providing a firm foundation for the full year performance.

Through prudent management of the business, the Group remains well capitalised with cash and cash equivalents as at 30 September 2023 of £9.9m (September 2022: £11.0m), with a further £3.3m received from customers in early October 2023.

The Group has successfully executed against its land and expand strategy, winning new customers, along with good levels of customer expansion sales across all three products, facilitated by the demonstrable and rapid benefits the products bring.

The Group is seeing customer appetite to take new product continuing to build. The launch of ControliQ Series 3, with its AI-based features, has been particularly well received by customers. Our product teams are harnessing the latest advances in technology to help our customers better organise, see capacity clearer and ultimately improve performance for their own customers.

The first of ActiveOps' 2023 annual customer conferences was held in London on the 10 October. Here the Company successfully launched its new brand, focused on the provision of Decision Intelligence for Service Operations. The Group's products help customers improve their decision making and do more with what they have. The message, that ActiveOps' products help create more capacity and enhance productivity to improve customer experience, while reducing costs, is resonating well across the Group's customer base and target markets. Expected total attendance across the Company's customer conferences is up 25% vs last year, reflecting its strong customer relationships and the interest in the Group's solutions.

Notice of Results

The Company intends to announce its results for the six months ended 30 September 2023 on 14 November 2023.

Richard Jeffery, Chief Executive Officer of ActiveOps plc, commented, "The ActiveOps team continues to deliver against our clear growth strategy despite wider macroeconomic uncertainty. High recurring revenues, strong gross margins, low churn rates and a strong balance sheet give the Group confidence as it looks ahead to the remainder of the year.

"The demonstrable value of our product set is resonating well with our blue-chip enterprise customer base, which, when coupled with our strong customer relationships, underpins the success of the Group. With the release of ControliQ Series 3 and soon to be released Series 4, our product set is becoming increasingly sophisticated and intelligent. With further enhancements to our product roadmap on the horizon, each with decision intelligence at their core, we continue to upgrade the tools our customers have available to them, protecting our reputation as market leaders in the management process automation market.

"With growth against all of our key KPIs, good levels of renewals, and a healthy pipeline, we remain on track for a full year in line with Board expectations."

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About ActiveOps

The Company's offerings provide predictive and prescriptive insight to help service operations make better decisions - faster. The Company's AI-powered SaaS solutions are underpinned by 15+ years of operational data and its AOM methodology that's proven to drive cross department decision-making.

With Decision Intelligence, ActiveOps' customers deliver MORE - release 20%+ capacity within the first 12 months and boost productivity by 30%+ leading to MORE business impact. Customer turnaround times are improved substantially, costs are reduced, SLAs are met, and employees are happier and more engaged.

As at 31 March 2023, The Company has over 170 employees, serving a global customer base of over 80 enterprise customers from offices in the UK, Ireland, USA, Australia, India and South Africa. The Group's customers are predominantly in the banking, insurance, healthcare administration and business process outsourcing (BPO) sectors, including Nationwide, TD Bank, Elevance and DXC Technology.