Graham Higgins, Chairman of NetDimensions LON:NETD, commented: “The Company made good progress in the period in terms of better cost control and declaring a substantially smaller loss than the prior period. The Company did experience some delays in rolling out some larger client contracts in the first half, however the high consequence industries which we service continue to show demand for our product suite.”
NetDimensions (AIM: NETD; OTCQX: NETDY), a global provider of performance, knowledge and learning management systems, has given DirectorsTalk its half year results for the period ending 30 June 2016.
· Total revenue of US$10.5M (2015 H1: US$10.6M)
o 6% increase in revenue from our global hosted secure SaaS offering to US$5.4M (2015 H1: US$5.1M)
· Gross margin increased to 85% (2015 H1: 81%)
· 56% improvement in adjusted EBITDA loss to US$0.8M (2015 H1: loss of US$1.8M)
o 8% reduction in cost of sales, selling & operating expenses to US$11.9M (2015 H1: US$12.9M)
· Cash as of 30 June 2016 US$11.2M (2015 FY: US$12.0M)
Operations Highlights
· 4.2M active users at the end of the period (2015 H1: 3.9M)
· Recurring revenue was 70% of total revenue in the period (2015 H1: 68%)
· 12% increase in Research & Development investment to US$1.8M (2015 H1: US$1.6M)
o All of which was expensed to the Income statement during the period
· 17 new clients added in the period through direct and reseller channels with a combined contracted value of US$1.4M