Trading Update

SmartSpace Software Plc, (AIM:SMRT) the leading provider of 'Integrated Space Management Software' for smart buildings and commercial spaces - ‘visitor reception, desks and meeting rooms’, today provides an update on trading and the expected financial performance of the Group for the six month period ended 31 July 2021.

Key highlights:

  • Forward looking Group Annual Recurring Revenue (“ARR”) as at 31 July 2021 up 28% in the 6 month period to £3.8m (up 51% since July 2020)
  • Half year revenues expected to be approximately £2.5m (HY20: £2.3m) of which 63% is recurring revenue (HY20: 45%)
  • SwipedOn
  • Forward looking ARR up 22% in the six-month period to £3.2m on a constant currency basis (up 43% since July 2020)
  • Monthly Average Revenue Per User (“ARPU”) up 22% in the six-month period to NZ$111.8 (£56.1) (HY20: $85.3 (£42.8)
  • Locations up to 7,003 (31 Jan 2021: 6,741) and customers up to 4,747 (31 Jan 2021: 4,735) as SwipedOn target higher value multi-location customers
  • First SwipedOn Desks customers signed and deployed
  • SwipedOn desks will be available to all customers from August and will include new mapping module
  • Space Connect
  • ARR up 157% in the six-month period to £0.4m driven primarily by successful reseller agreements including Softcat
  • 14 new partner agreements signed in the period, including 5 further reseller agreements signed in July alone
  • First Space Connect partners located in Poland, Ireland, Canada, Belgium and USA
  • Naso sales lower than expected but first significant order received in July 2021
  • New Space Connect mapping module released
  • Anders & Kern (A+K)
  • Sales below expectations due to Covid lockdown in H1, but significant increase in orders and improved revenue and sales pipeline since July
  • Cash as at 31 July 2021 of £3.4 million (31 January 2021: £4.5 million)

Click here to download the full press release.