SmartSpace announces its Interim Results for the six months ended 31 July 2019

SmartSpace announces its Interim Results for the six months ended 31 July 2019

SmartSpace Software plc, (AIM:SMRT) the leading provider of 'Integrated Space Management Software' for smart buildings, commercial spaces and hospitality announces its unaudited interim results for the six months ended 31 July 2019.

Operational Highlights:

Enterpise Business

  • Focus on deploying existing Enterprise customers
  • Continued investment in Workplace platform – versions 2.1 released in July 2019
  • Good pipeline of business, predominantly from existing Enterprise customers

Self-serve business

  • Strong growth in SwipedOn business
  • 23% growth in customers numbers from 2,713 on 1 February to 3,348 at the end of July
  • ARR grown by 36% to NZ$2,570,000 at 31 July 2019 and increased to NZ$3,186,000 at 30 September, a 69% increase since the beginning of the financial year
  • ARPU (Average Revenue Per User per month) grew by 10.4% during the period under review and has since increased further to NZ$75.05 by 30 September 2019
  • Withdrew from retail market and ceased signing new customers
  • Invested £2.1m in product development over the period (FY19 H1: £0.7m). enhancing the workspace management platform

Click here to download the full press release.