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Sopheon januari 2022

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  1. marblesthegame 17 januari 2022 20:12
    Sopheon PLC
    Issue of Equity

    RNS Number : 7129Y
    Sopheon PLC
    17 January 2022

    For immediate release

    SOPHEON PLC
    ("Sopheon" or the "Company")

    Issue of Equity - Option Exercise

    Sopheon, the international provider of software and services for Enterprise Innovation Management solutions, announces that, following the exercise of options by certain employees, it has allotted 41,109 new Ordinary Shares of 20 pence each in the Company ("Ordinary Shares"). Application will be made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 21 January 2022.


    The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares. The total number of Ordinary Shares in issue following Admission will be 10,553,325. The Company does not hold any shares in treasury. Accordingly, the figure of 10,553,325 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
  2. Bertus S 25 januari 2022 08:12
    Trading Update

    Sopheon, the international provider of software and services for Enterprise Innovation Management solutions, is pleased to provide the following trading update for the year ended 31 December 2021.

    On 20 December 2021 we reported our acquisition of the ROI Blueprints (“ROIB”) business, along with a statement that financial performance would be comfortably in line with market expectations. We are now delighted to report that we expect that revenue for the year ended 31 December 2021 will exceed $34m (2020: $30m). Annual Recurring Revenue (“ARR”) at the end of 2021 is expected to exceed $20.5m (2020: $18m), a performance we are pleased with. This, coupled with contracted consulting services, means that revenue visibility1 for 2022 has grown to approximately $23.4m (2020: $22.0m).

    Adjusted EBITDA is expected to exceed $6m (2020: $5.9m). Net cash on 31 December 2021 was $24.1m (2020: $21.6m) after funding the initial payment on the ROI Blueprints acquisition, demonstrating the cash generative nature and resilient cash performance of the business and underlining our robust balance sheet. In addition to the revenue out-performance, the profit result was assisted by the deferral of some of our anticipated investment plans, in particular in the staffing of product development. Like many other software businesses, we face ongoing challenges in recruiting technical staff. However, as noted in previous announcements, along with the appointment of Greg Coticchia as CEO in April, we have added new leadership in sales, marketing and product areas and expanded resources in 2021. We have increased the pace of Accolade product releases, and also expanded a number of marketing initiatives to build the Sopheon profile, and grow the pipeline. This includes programs to introduce the ROIB solution to our customer base later this month. Several cross-sell opportunities have been identified, and the ROIB team is already fully integrated at Sopheon. Our growth initiatives will continue and accelerate in 2022.

    The improvement in ARR underlines continued traction in our migration to a Software as a Service (“SaaS”) recurring revenue model, giving both enhanced revenue visibility to future periods and improved quality of earnings. Approximately 50% of more than 70 license transactions signed during 2021 were for SaaS contracts. Moreover, the value of SaaS bookings was more than double that of perpetual contracts. This includes another six existing customers converting from the perpetual model to a SaaS model. Gross retention of ARR returned to our normal strong levels, at 95% compared to 91.5% during the challenging conditions of 2020.

    Financial expectations noted above are preliminary, and subject to year-end financial close and audit review processes. In line with our normal reporting schedule, Sopheon plans to issue its results for the year ended 31 December 2021 on 24 March 2022.

    Sopheon’s Chairman, Andy Michuda said: “As I noted in our December announcement, it was great to end the year with our first acquisition for some time, coupled with strong execution in the core business. We continue to explore and evaluate further M&A opportunities. In parallel, we are also advancing nicely on our stated transition towards a SaaS business, both operationally as well as financially, intended to enhance predictability, quality of earnings and overall shareholder return. I am encouraged with the foundational progress Greg and the team have made in 2021 and look forward to further positive developments as the new year progresses.”

    For further information contact:

    Andy Michuda (Chairman)
    Arif Karimjee (CFO) Sopheon plc + 44 (0) 1276 919 560

    www.sopheon.com/financial-releases/tr...

    Bertus S.
  3. [verwijderd] 25 januari 2022 12:40
    vlg Finncap

    SOPHEON (SPE): CORP Positive end to 2021 leads to promising start for 2022 too After the positive December trading update accompanying the acquisition of ROI Blueprints, today’s update gives detail of 2021 outperformance in both revenue & EBITDA, with net cash at year end of $24.1m vs $21.9m, even after the acquisition. Revenue of over $34m (>+3% vs $33mE) delivered 14% growth vs FY20, and returned EBITDA over $6.0m, +35% vs. expectations and +2% vs FY20, at a margin of 18% instead of 14%E. In addition to revenue outperformance, deployment of planned increased costs was deferred by the well-known challenges to IT recruitment experienced across the industry, with positive consequences for profitability and cash (+10% vs $21.9mE) – nevertheless, the group continues to invest in sales, marketing, product & expanded resources, an increased pace of Accolade releases, and expanded market initiatives to build the pipeline. Importantly, the group’s KPIs in ARR and retention continued to demonstrate improving earnings quality, with ARR +14% at $20.5m (vs $18.0m in FY20 and $19.0m at 1H21), and 95% gross retention (vs 91.5% FY20). Combined with contracted consulting revenue due for recognition within the year, the group has once again set a record for full-year visibility by this stage of the year at a total of $23.4m (vs $22.0m at FY21). We leave forecasts unchanged, while nudging up our target price to 1250p (1200p), leaving plenty of capacity for outperformance as the world opens up during the year.
  4. [verwijderd] 25 januari 2022 12:44
    - Sopheon has delivered FY21 forecasts ahead of expectations, echoing routine pre-COVID. Our
    target price remains based on 4.1x FY22 EV/Sales, and we expect organic growth to be
    complemented by M&A through use of the $24.1m cash, while maintaining a strong cash balance
    to reassure enterprise clients.

    - The focus for growth remains on KPIs, with the growing importance of ARR, as the percentage
    of SaaS revenue expands within the recognised revenue. Of more than 70 licence transactions
    signed in 2021 (FY20: 35, 1H21: 43 as the COVID backlog cleared), more than 50% were SaaS
    contracts, while the total value of SaaS contracts signed was double that of perpetual. Six existing
    customers (FY20: 4) converted to SaaS, heavily skewed to 1H21 (5), while retention of the
    remaining licence/maintenance customers returned to 95% (FY20: 91.5%) post the initial
    experience of lockdowns. Visibility of 2022 revenue incorporates ARR and also additional
    contracted revenue (such as consultancy) for recognition in FY22. Visibility currently stands at
    $23.4m (FY20: $22m), representing 63% of FY22 revenue expectations, comparing with 63-65%
    experienced in FY19-FY21. Outperformance has returned, having been a recurring theme for pre
    COVID Sopheon during 2016-2019, given the level of operational gearing in the model. The
    deferral of some planned spend in product development staff has added to EBITDA
    outperformance in the current year, but the group continues to treat M&A as a viable alternative
    to R&D, and to invest in sales, marketing, product, and additional resources.
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