Ahead of publishing its half-year results, Celebrus has published a trading update for the six months to 30 September 2024. As a result of the announcement, the LSE:CLBS shares recovered from a slight fall the day before the announcement. They have risen by over 34% over the last six months.
It will publish its full half-year results on December 3rd, and they appear to be in line with management expectations as follows:
- Revenues were approximately $17.0 million (H1 FY24: $16.2 million) (just under 5% growth) (£13.5m )
- Adjusted profit before tax of approximately $1.0 million (H1 FY24: profit of $0.2 million) (£0.8m)
- Annual recurring revenue (“ARR”) increased during the period to $26.2 million (31 March 2024: $25.5 million, 30 September 2023: $21.3 million). ( a rise of 23% YoY) (£20.7m)
- Cash balance at the half year was $ 25.5 million (31 March 2024: $38.8 million, 30 September 2023: $17.9 million), and the Group remains debt-free
Bill Bruno, Chief Executive Officer, commented, “We are pleased to report another strong H1 result, and with the progress we have made as a business with our investments in both our Sales and Customer Success business units. This has resulted in a strong and growing pipeline for both new and existing businesses to support future growth. We have also continued to explore potential acquisition targets to enhance the Celebrus platform while continuing to invest in our organic growth initiatives.”
During this period, Celebrus won a significant contract for the Celebrus Data platform with a leading global airline. The new contract adds to the expansion of another contract with an existing airline customer earlier in the year.
Celebrus expects its full year to be in line with management expectations.
Enterprise Times: What does this mean?
Another solid set of results from Celebrus, with ARR maintaining a solid growth rate. Full details will be available in December, and it will be interesting to see the details of its new growth. Leisure & Travel appears to be picking up momentum, but are the other industry sectors performing well? During 2024, it has continued to build relationships with other firms, including Global SIs such as Accenture and Deloitte. It also forged a partnership with Dentsu Merkel, launching CXM signals that are beginning to see traction in the market.
The 400% rise in profits is impressive, though still only a small proportion of revenues. Analysts will be eager to see whether that is maintained for the full year and then the projections over the next few years.
As Bruno mentions, Celebrus is also expected to make an acquisition, further boosting its revenues. It is unclear whether this will be in the current fiscal year or a bit later, Bruno is looking for the right opportunity to expand the Celebrus tech stack.
