KRM22 success this year driven by five key initiatives

KRM22 plc (LON:KRM), the technology and software investment company, with a particular focus on risk management in capital markets, has announced its unaudited interim results for the six months ended 30 June 2022.

Highlights

Financial

·    Gross cash and cash equivalents at 30 June 2022 of £3.6m (FY 2021: £5.4m)

·    Annualised Recurring Revenue* (“ARR”) of £4.1m at 30 June 2022 (H1 2021: £3.7m)

o  New contracted ARR in the period of £0.7m (H1 2021: £0.3m)

·    Total revenue recognised of £1.9m (H1 2021: £2.2m)

·    Adjusted EBITDA loss** of £0.7m (H1 2021: loss of £0.3m)

·    Loss before tax of £1.2m (H1 2021: loss before tax of £1.7m)

Operational

·   Launch of ‘Limits Manager’, the first joint product with Trading Technologies International, Inc (“TT”) following the distribution agreement signed in December 2021

·    Conversion of sales opportunities generated by the relationship with TT

·    Ten new ARR contracts with six new customers, including a Tier One bank

·    Internal reorganisation of staff to bring clarity to operations and responsibilities

·    Significant reduction in unplanned customer churn with only one institutional customer loss in the period

Post-Period Events

·    Growth in ARR to £4.4m from a further six new contracts

* Annualised Recurring Revenue (ARR) is the value of contracted Software-as-a-Service (SaaS) revenue normalised to a one year period and excludes one time fees

** Adjusted EBITDA is the reported profit/(loss), adjusted for depreciation, amortisation, share-based payment charges and unrealised foreign currency gains/losses and non-recurring exceptional costs including impairment charges, reorganisation costs, gain on extinguishment of debt and acquisition and funding costs, gain/loss on disposal of property, plant and equipment 

Commenting on the results, CEO of KRM22, Stephen Casner, said:

“Our success in the first half of the year has been driven by the five key initiatives that we defined at the start of the year.  These initiatives have seen an increase in ARR, a reduction in the level of customer churn and an improvement in the underlying processes that will support KRM22’s continued growth.

There is no doubt that the Company needs to continue to improve performance to achieve profitability and produce positive cash flow.  We strongly believe that if we continue to repeat the success we demonstrated in H1 2022, we have the right products, distribution, talent and sufficient capital to get there.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
KRM22 PLC

More articles like this

KRM22 PLC

Market Surveillance November 2022

This month, we have developed two new alerts for our customers in the Fixed Income space: Quote away from Stream and Quote away from Composite. The Quote away from Stream alert checks if the Dealer quotes a better/worse

KRM22 PLC

KRM22 at FIA Expo Chicago

FIA EXPO returned to Chicago in 2022 with a new look at The Sheraton Grand Riverwalk Hotel. As always, the event was an excellent way to reconnect with customers, friends, and colleagues across the industry just prior to

KRM22 PLC

Helping firms transition to proactive surveillance

At KRM22 we are committed to providing our customers with the services they need to manage their risks as they require. This commitment has resulted our Market Surveillance team spotting a new Fixed Income related trend in the operational risks

KRM22 PLC

Market Risk October 2022

KRM22’s Market Risk suite has been enhanced across the board. The Pre-Trade functionality now allows temporary account creation to satisfy place holder accounts for onboarding customers before they go live. This allows for the onboarding process of new

KRM22 PLC

Trading Technologies expands risk management offering

Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, and KRM22 plc (AIM: KRM), the technology and software investment company that focuses on risk management for capital markets, today announced

KRM22 PLC

Risk management during extreme political volatility

2022 has seen a period of increased volatility worldwide. Investors are focused on central banks raising rates, with markets already factoring in a 75-basis point hike by the U.S. Federal Reserve. The latest Consumer Price Index report showed

KRM22 PLC

How to track SOC2 compliance

In Q3 2022, KRM22 completed its annual SOC2 Type 2 assessment for the year and passed with no issues reported by its auditor. SOC2 is a compliance standard for service organizations that specifies how they should manage and

KRM22 PLC

UK manufacturers accelerate digital investments, new survey shows

The UK manufacturing industry is increasingly embracing the digital industrial revolution as it bids to boost productivity, improve energy efficiency and overcome supply chain shocks caused by COVID and Brexit. This is according to a major report published

KRM22 PLC

Global broker signs with KRM22 for at-trade an post-trade

KRM22 is pleased to announce that a major global provider of broking and execution services headquartered in London, has selected KRM22 to deliver its suite of market risk products covering At-Trade P&L and Exchange Margin calculations, as well

KRM22 PLC

Risk Cockpit September 2022

Users can now capture additional details on Events, increasing the control they have over events. The new “Remediation” tab on Events allows the capture the root cause, impact and the actions that are taken to remediate any event.

KRM22 PLC

Market Surveillance September 2022

Market Surveillance has been enhanced with improvements to the Ramping and Creation of a Floor/Ceiling alerts Ramping The ramping alert can now look for opposite side trades after the price ramp to check if the trigger participant benefited

KRM22 PLC

Meet the Team: Maria Teneva

Tell us a little bit about your background, where are you from and how did you get here? I am from Bulgaria, and I came to England in 2017. I studied Biomechanical engineering at King’s College, London, graduating

KRM22 PLC

KRM22 announces Market Risk expansion

KRM22 has announced that it has entered into an agreement with a major futures broker to expand the use of KRM22’s suite of Market Risk products. Already a customer of the Post Trade Stress product, the broker will

KRM22 PLC

At Trade

P&L and Exchange Margin Understand your true exposure in real-time by calculating account P&L and Exchange Margin while managing changes to trading inventory. Configure risk dashboards and automated limit alerts to anticipate and react to changing market conditions.

KRM22 PLC

Pre Trade

Trading System Limits Set trading system limits across all trading applications from a single input source and maintain an audit trail of activity. Intraday system reconciliations with ISV’s and exchanges ensure accuracy. Use the extensive reporting features for

KRM22 PLC

Integrated Risk Management

Integrate risk data, processes and accountabilities enterprise-wide to create a real-time enterprise risk profile which is aligned to your organisation’s strategy and business plan. Ensure the aggregated level of risk is within clear risk appetite boundaries and risk

KRM22 PLC

What is Operational Risk?

Operational risk is a category of risk that refers to risks arising from the day-to-day operations of firms.It is somewhat of a catch-all phrase, often taken to mean all risks that are not related to market orcredit risk.

KRM22 PLC

Your risk. Your platform.

The Global Risk Platform (GRP) utilises a powerful and scalable data driven engine to deliver a fully integrated and transformational experience. Decrease your IT costs and risk. Increase your agility and productivity. Transitioning from disconnected and unmanaged siloed applications,

No more posts to show