Aferian gave a trading update for the first six months of its fiscal 2023 to end May, saying results went largely as indicated before, with revenues from the higher margin software and services seen up 14 percent from the year before to USD 13.7 million and device revenue dropping 71 percent to USD 9.4 million. Total revenues are forecast off at USD 23.1 million, from 44.5 million in 2022.
The company will provide its final results for the period sometime in August.
The group said it has continued to make encouraging progress in improving the quality of earnings and that it expects to report exit run rate annual recurring revenues (ARR) of about USD 19.0 million, from 15.8 million the year earlier, an improvement of 20 percent, or 21 percent on a constant currency basis.
Aferian plc (LON:AFRN) is a trusted partner and global provider of innovative, scalable media and entertainment technology solutions. As an IPTV pioneer, working with over 250 operator customers in 100-plus countries, Aferian continuously innovates to help customers deliver modern video experiences. Aferian has two operating companies: 24i and Amino.
