Netcall revenues boosted by increased cloud services bookings

Customer engagement software group Netcall expects full-year revenues to have moved ahead in its last trading year, driven by an impressive increase in cloud services bookings, it said on Wednesday.

It said it was anticipating full-year revenues of £22.9m, up from the £21.9m turned in a year earlier, thanks to a 197% increase in cloud services bookings to £7.6m.

The AIM-listed group said its total low-code annual contract value had continued its growth, and was up 36% year-on-year to £4.5m, while its total ACV increased 10% to £15.7m.

Netcall also highlighted its "strong" cash generation during the year and at 30 June, the group's cash position was £7.8m - ahead of the board's expectations and "more than offsetting" its existing debt of £6.6m.

Chief executive Henrik Bang said: "We have seen strong growth in our key financial metrics of cloud services bookings and ACV as we continue to transition from a traditional software business to a growing digital cloud operation.

"The group's cash position increased significantly in the period which combined with high recurring revenues and a strong product portfolio, gives the board confidence in the prospects for Netcall."

As of 1000 BST, Netcall shares had shot up 11.67% to 34.06p.