Amino Technologies H1 revenue expected to be approx. $45.3m, 19% ahead of the prior year

Amino Technologies plc (LON:AMO), a software-led global media technology company that delivers modern TV experiences, has announced a trading update for the six months ended 31 May 2021.     

The Group has traded well during the period with revenue for the first half expected to be approximately $45.3m (H1 2020: $38.0m), 19% ahead of the prior year. Improving quality of earnings and enhancing visibility continues to be an area of focus and of progress with the Group expected to report higher margin software and services revenue of approximately $10.0m (H1 2020: $9.7m), and an exit run rate Annual Recurring Revenue (ARR) of approximately $13.8m (H1 2020: $10.1m), 37% ahead of the prior year.

The Group has also made strong progress against its 2025 strategy, capitalising on the convergence of streaming services and traditional Pay TV. In May 2021 the Group acquired Nordija, a Danish streaming and Pay TV platform specialist.  Nordija, which will be integrated into the Group’s 24i business, will enhance and scale the Group’s end-to-end video streaming portfolio and is expected to be earnings enhancing in the first full financial year of ownership.

As at 31 May 2021 the Group had gross cash of $17.0m, drawn credit facilities of $7.0m and undrawn credit facilities of $8.0m.  Strong sales toward the interim period end led to an increase in receivables as at period end, all of which are expected to be collected in H2. The Group’s cash deposit relating to the bid for MobiTV of $1.8m was subsequently refunded in full on 2 June 2021.

The Group continues to retain in full the net proceeds of its recent £9.4m equity fundraising to fund future acquisition opportunities in order to help it continue to deliver against its 2025 strategy.

The Board remains confident of the Group’s prospects and will provide a further update on trading when it announces half year results for the six months ended 31 May 2021 on 3 August 2021.

Donald McGarva, CEO of Amino Technologies plc, said:

“We have had an excellent first half. We have grown revenue by 19% and recurring revenue by 37% and enter the second half of the year confident in meeting our full year expectations. We have executed strongly on our strategy and this progress provides us with the confidence to fulfil our ambitious growth plans. We continue to focus on growing software and recurring revenue whilst at the same time strengthening our long-term customer relationships and making it easy for people to connect to the TV and video they love.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Amino Technologies plc

More articles like this

Amino Technologies plc

Data is your friend

When we interviewed several of our customers for our recent whitepaper, “Tales from the OTT Frontline”, every one of them stressed the overwhelming importance of good analytics. Whether they’re measuring traffic to apps and services, monitoring

Amino Technologies plc

My golden rule of Smart TV development

In over a decade developing video streaming applications for Smart TVs, I’ve seen plenty of companies make fundamental mistakes that cost them time and money. No matter what TV brand you’re working with, as a pay

Amino Technologies plc

Amino Technologies PayTV+ deployments with GO Malta and Cablenet

Amino Technologies plc (LON:AMO), a software-led global media technology company that delivers modern TV experiences, has announced PayTV+ deployments for GO Malta, Malta’s leading communications services company and Cablenet, the number one cable operator in Cyprus.

Amino Technologies plc

Client devices: Aria 7

High performance, HEVC, Hybrid tuner device for delivery of broadcast, IPTV and OTT services. Expand your service footprint with a device that supports diverse subscriber requirements. Deliver live, linear and OTT streaming apps to digital and

Amino Technologies plc

Operator ready android TV

Integrate streaming apps alongside linear channels and enjoy amodern user experience. Consumers love video. The TV experience, today, is more than a selection of linear channels available from Pay TV operators. Consumers are accessing content from

Amino Technologies plc

Amino builds an island in the stream

Cambridge MediaTech business Amino Technologies plc sees a big future in streaming services as it builds a strong foundation for future growth. CEO Donald McGarva said the shift of emphasis was already paying off as the

Amino Technologies plc

The Year in Review – 2020

Amino Technologies (LON:AMO) 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, Amino continuously innovates to help

Amino Technologies plc

Amino powers GO Malta OTT Android TV launch

Amino, the global media and entertainment technology solutions provider, and GO Malta, Malta’s leading communications services company, today announced that the AminoOS powered Amigo 7X devices and Amino Engage software have been rolled-out to provide GO Malta’s customers with exciting new OTT

Amino Technologies plc

Tales from the OTT frontline

For more than a decade, 24i has been leading the global OTT revolution and helping media companies and broadcasters launch highly successful streaming services. We’re pleased that together with our customers, we can add value to