KRM22 plc (LON:KRM), the technology and software company focused on risk management in capital markets, has announced its audited results for the year ended 31 December 2021.
· Gross cash as at 31 December 2021 of £5.4m (2020: £2.0m)
· Annualised Recurring Revenue (ARR) as at 31 December 2021 of £3.8m (2020: £4.1m)
o New contracted ARR in the year ended 31 December 2021 of £0.7m
· Total revenue recognised of £4.1m (2020: £4.6m)
· Adjusted EBITDA loss of £0.7m (2020: £0.2m)
· An improved loss before tax of £3.4m (2020: loss of £5.7m)
· Further funding received in December 2021 of £4.7m (gross) through a direct strategic investment by Trading Technologies International, Inc.
· Distribution agreement signed with Trading Technologies International, Inc. in December 2021 following its strategic investment which will help provide a platform for future growth
· Deployment of a major futures brokerage customer adopting multiple KRM22 risk management products using a single data set
· 69% of customers now contacted under a Master Services Agreement on multi-year contracts with increased ARR on an annual basis over the term of the contract with contract commitments of between two and five years
· Soc 2 accreditation approved in March 2021 demonstrating KRM22 has internal controls in place to safeguard customer data which will assist in new customer procurement processes
Keith Todd CBE, Executive Chairman of KRM22, commented:
” The 2021 financial performance masks the significant progress the Company has made strategically, with significant expansion of offerings on the Global Risk Platform and the continued migration of many customers to new multi-year contracts as well as new revenue contract wins. We have started 2022 with a strong balance sheet and, most importantly, I’m pleased that the TT partnership is progressing very well with positive reaction from prospects and customers at the recent FIA global conference at Boca Raton clearly visible. “