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Actual Experience plc (AIM: ACT), the analytics-as-a-service company, is pleased to announce its preliminary results for the year ended 30 September 2020.

Financial highlights

• Group revenue of £1.96m (2019: £1.93m), primarily generated from sales to Channel Partners
• Gross profit increased 29% to £1.02m (2019: £0.79m)
• Reduction in operating loss before exceptional item to £4.58m (2019: £6.26m)  
• Reduction in loss for the year to £4.68m (FY19: loss of £5.91m)
• Cash at year end of £2.75m (FY19: £7.88m)

Operational highlights

• Completed pivot from a managed services to a professional services offering
• Switch to a professional services model resulted in a reduction of the cost base as well as improving operational efficiencies and reduced customer conversion times
• All Channel Partners ready to use the Company's Human Experience Management ("HXM") Business Impact Assessment ("BIA") and Continuous Improvement ("CI") offerings
  • Amendments made to agreements with two existing Channel Partners to accommodate new offerings
  • No amendements required to Vodafone's agreement to sell the new offerings

Post period highlights

• First large-scale Professional Services ("PS") engagement and subsequent deployment of a BIA project with a Channel Partner's large energy customer
• Completion of £10m Placing in January 2021, to expand sales and support teams in response to the growing pipeline of sales prospects, and smoothly on-board new Channel Partners
• Solid operational platform and sales funnel established by Channel Partners
• Over four million addressable employees or seats identified by Channel Partners
• Secured initial order from Oracle Corporation for the Company's BIA offering
• Signed a three-year framework agreement with an American multinational computer technology company to resell the Company's BIA and CI offering
• Completed first BIA project with legal firm Osborne Clarke

Dave Page, CEO of Actual Experience plc, said: "This has been a challenging year, but we have worked exceptionally hard to launch our new HXM offerings, BIA and CI for business leaders, enabling them to improve their digital business, look after employees, and improve operational efficiency. We believe that Actual Experience has the ability to become a significant global player in the market for Human Experience Management.  We have a growing  number of new business opportunities in the pipeline and, in addition our existing Channel Partners are expected to start delivering our PS-led, BIA and CI offerings to their customers, and our recent successful fundraise in January 2021 will allow us to capitalise on the current market opportunity.

"Whilst we will continue to monitor the wider market environment in regard to COVID-19, we are confident in delivering against our strategic objectives, and look forward to reporting on further progress with both new and existing Partners in due course." 

 

Enquiries:

Actual Experience plc	via Alma PR
Dave Page, Chief Executive Officer Steve Bennetts, Chief Financial Officer
N+1 Singer Advisory LLP	Tel: +44 (0)207 496 3000
Shaun Dobson Tom Salvesen Iqra Amin
Alma PR	Tel: +44 (0) 203 405 0205
Josh Royston Robyn Fisher Helena Bogle

About Actual Experience

Actual Experience's goal is to significantly improve the performance of the digital world.

The Company enables its partners to optimise their customers' digital ecosystem to increase productivity and enhance brand experiences through Human Experience Management.

Developed from 10 years of patented academic research and three patents, the Company's Human Experience Management Services analyse the human experience of any digital service. The Company's service provides organisations with actionable information whereby changes to the digital ecosystem can be made to optimise and improve digital experience for customers and employees.  For any organisation, this means that their most valuable asset - their employees - are liberated from digital slow time, their online brand reputation can be protected and they can make informed ecosystem investment decisions.

Actual Experience is listed on the London Stock Exchange (AIM: ACT). Our corporate headquarters is in Bath, UK. Actual Experience's unique and patented digital analytics-as-a-service is founded on cutting-edge research at Queen Mary University of London.

For further information please visit  www.actual-experience.com

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