Access Intelligence (ACC), a technology innovator providing Software-as-a-Service solutions for the global marketing and communications industries, has released half-year results for the period ending on May 31, 2023.
The company achieved its first six-month period of annual recurring revenue (ARR) growth in the APAC region since acquiring Isentia in 2021. At the same time, it experienced continued ARR growth in the EMEA and North American market.
During the period, the Group's ARR surged by £1.4 million, up from £0.5 million in H1 2022. Additionally, total revenue for the period amounted to £31.3 million, with 95% of revenue being recurring, illustrating the company's stable revenue stream.
The group delivered adjusted EBITDA of £2.0 million, marking a year-on-year increase of £1.7 million.
Benefiting from strategic optimisations, the Board expects higher adjusted EBITDA and cash generation in the second half, aligning with full-year expectations.
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Access Intelligence delivers SaaS products that address the business needs of clients in the marketing and communications industries, namely tools to deliver insights into their audience. Understanding their audience is now more crucial to the success of these industries than ever before, and with the internet and the end of linear media consumption fragmenting audiences, Access Intelligence's solutions are well-placed to assist.
Using advanced technology and rich data sets, its platforms provide insights about customers, markets, and society. Its software has been used among the likes of industry leaders such as Mercedes, Panasonic and BT, reflecting the best-in-the-game software that Access Intelligence offers.
In the sixth month period, ARR growth reflected the annual value of new business won, together with upsell into the company's existing customer base. Looking ahead, the ARR growth delivered during the first half is expected to contribute to higher revenue in the second half, whilst the company's pipeline also continues to grow with a number of strategic opportunities expected to close during Q3.
Furthermore, as constant currency growth extends across all regions, the group's forthcoming launch of its next-generation platform in the APAC market during the upcoming months is expected to gain even more attention from both existing and potential customers, providing considerable opportunity for accelerated growth.
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