Access Intelligence, a software-as-a-service (SaaS) provider aimed at global marketing and communications, updated today on the six months ended 31 May 2022. The company reported strong revenue growth following its acquisition of Isentia in September 2021.
Access Intelligence (ACC ) expects interim total revenue to be at least £32.7m, a 195% increase YoY or 16% excluding the acquisition of Insenia. Annual Recurring Revenue (ARR) was £59.6m at the period end representing growth of £0.7m in the six months. Cash on 31 May stood at at least £9.2m, ahead of expectations.
Access is optimistic about its continued expansion into North America and EMEA regions. Annual Recurring Revenue from those regions on 31 May was £28.1m, an increase of £1.2m during the period. The company expects further ARR increases in North America as expansion accelerates in the region. Access entered into a new partnership with Hootsuite, a social media management platform, which is expected to unlock new streams of revenue, particularly in North America.
The company also reported good progress on the merger with Isentia today. Access launched Isentia's Pulsar platform in Australia and New Zealand (ANZ) during the period, with good customer engagement so far. Pulsar is Isentia's "social listening and audience intelligence platform". ARR in the ANZ region remains stable.
Access won many new clients during the period including Allianz, E.ON, Hasbro, High Speed Two, KPMG, NHS Property Services, Procter & Gamble, Reddit, The Premier League among others in the EMEA and North America regions. In the APAC region, the Company won contracts from ABC, Bulgari, Chevron, H&M, Huawei, Netflix, Nestle, SAS Group, Special Olympics Australia, StudioCanal, Tiffany & Co among others.
Chair Christopher Satterthwaite commented: "The first half of the year has seen the group trade in line with expectations. We have delivered strong growth in the core business with a good performance being delivered by the Group's EMEA and North America region including a significant number of blue-chip customers won in the period. The launch of Pulsar in ANZ has been well received and we expect the integration of the Company's global product suite to support further progress in APAC with continued new customer wins."
The SaaS industry has experienced significant growth in recent years, expected to accelerate throughout the 2020s. The SaaS market was estimated at US$144.2 billion in 2021 and forecast to reach US$703.2 billion by 2030 according to a report by Allied Market Research. This market overlaps the digital advertising market, also expected to grow significantly during the decade from an estimated US$350 billion in 2020 to a projected US$786 billion in 2026, a CAGR of 13.9%.
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