Trading Update

RNS Number : 2215Q

Rosslyn Data Technologies PLC

28 November 2016

 

Rosslyn Data Technologies plc

("Rosslyn", the "Company" or the "Group")

Rosslyn Data Technologies plc

("Rosslyn", "RDT" or the "Company")

Trading Update

Rosslyn Data Technologies plc (AIM: RDT), the provider of a leading cloud-based enterprise data analytics platform today is pleased to announce a trading update for the 6 month period ended 31st October 2016

We are pleased to report that over the first half of the year that the Company has continued to trade positively and build on its foundations of growth.  Most notably we have added a further FTSE 100 and a Fortune 100 client, whilst continuing to expand our footprint in our current client base and expand our Partner program.

Our direct sales team continues to make encouraging progress in our target verticals and we are pleased to report that our pipeline continues to grow with positive, credible prospects across Europe. We have been shortlisted by a number of major businesses within our target market and, with the help of marketing, continue to raise our profile, meaning that we are now included in most invitations for large data procurement events. In addition, our installed client base continues to expand its use of RAPid with the purchase of both new applications and broadening the use of their initial procurement with new users and the expansion in to new business areas.

Our partner program, which is focused on enabling industry leading consultancies with the RAPid platform, is seeing its relationships broaden and deepen.  A clear example of this was the recent announcement of our strengthened relationship with Dun and Bradstreet.  Although these relationships are still young,, we now have partners who command leadership positions in their markets place and we are in the process of being integrated into their services.  One is focused on reducing their sales cycles, deployment lead times and enhancing their existing analytical offerings.  Rosslyn's solutions enable another of our partners to fill a material gap in their analytical capabilities and services. In addition, our focus on the US market continues to generate new leads into exciting and large corporates.

Our progress and careful execution has been reflected in the Group's key metrics; our client acquisition rate continues at a steady pace; the average cost of acquiring a new client is trending lower, despite a slow-down in the time to win contracts and both the average and lifetime contract value is trending upward, now being more than 50% greater than at the IPO at over £75,000 per annum. These metrics are underpinned by a client churn rate that remains below 5%.  The management's focus on achieving cash flow breakeven is progressing and remains on track which the Board believes is encouraging evidence of an emerging, sustainable and valuable business model.

We expect solid progress to be made across all fronts in the second half of the year and look to the future with confidence. 

Rosslyn Data Technologies plc	Roger Bullen, Chief Executive Officer	[phone] [phone]
	Lance Mercereau Marketing Director	[phone]
Cenkos Securities - Nominated Adviser, Broker	Stephen Keys	[phone]

Notes to Editors

Rosslyn Data Technologies plc, (AIM: RDT), a leading provider of a Cloud-based enterprise data analytics platform, was founded in 2005 by Charles Clark and Hugh Cox. Business Intelligence was ranked first in the top ten technology priorities for Chief Information Officers in 2012 by Gartner. The Company provides analytical services by combining four key technologies: data extraction; cleansing; enrichment; and visualisation, through a single cloud platform enabling users with detailed data to make more informed decisions. Rosslyn's RAPid platform is the Group's primary product available to its multinational customers, including Aberdeen Asset Management plc, Babcock Corporate Services plc, Xerox Business Services and Coca-Cola Enterprises, Inc. Rosslyn Data Technologies plc is the ultimate holding company of the Group and owns 100 percent of Rosslyn Analytics Limited.

Further information can also be found on the Company's website at:  www.rosslynanalytics.com

 

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