itim Group reports 15% revenue growth for FY2023 with EBITDA exceeding expectations

itim Group plc (LON:ITIM), a SaaS based technology company that enables store-based retailers to optimise their businesses to improve financial performance, is pleased to announce an unaudited trading update for the financial year ended 31 December 2023, ahead of the publication of the Company’s annual results which are anticipated to be released in May 2024.

Highlights

·    Revenues increased 15% at £16.1m* (2022: £14.0m (audited)) in line with current market expectations.

·    Annual recurring revenue (“ARR”) remained constant at approximately £13.2m* (2022: £13.2m (audited)) representing 82% of revenue as the Group focused on EBITDA and cash generation.

·    EBITDA for the year is expected to be £0.68m* (2022: £0.21m (audited)) ahead of market expectation of £0.3m.

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