SmartSpace Software trading in line with management’s expectations

SmartSpace Software Plc, (LON:SMRT) the leading provider of ‘Integrated Space Management Software’ for smart buildings and commercial spaces – ‘visitor reception, desks and meeting rooms’,  will be holding its Annual General Meetingat 9.00 a.m. (BST) today at Singer Capital Markets, 1 Bartholomew Lane, London, EC2N 2AX. In advance of that meeting, the Company is pleased to announce a short trading update.

Trading Update

Trading in the current financial year has continued in line with management’s expectations.

SwipedOn has continued to trade well, with ARPU* and ARR** increasing. We have also engaged with our first customers in South Korea. In the past week, SwipedOn signed its largest client for ‘Desks’, with the order coming from an Australian- headquartered consulting business with 200 offices and 10,000 employees worldwide. This first phase is for 2000 desks across multiple locations in the APAC region.

This agreement represents a further significant milestone in the evolution of our software and sales capability in SwipedOn. This is as the Group continues to increase its focus on multi-location customers where the platform is used outside of just visitor management. 

A+K has had a strong start to the year, with revenues significantly higher than for the same period last year.

Within Space Connect, after an initial slow start to the year, we have seen a pick-up in momentum. In May, we had our best ever trading month for Evoko Naso. This has been driven by the positive reaction from recent trade shows, a new simplified pricing model and other initiatives to drive demand.

Space Connect has also recently integrated with Yealink, a major international manufacturer of meeting room and video conferencing hardware. A joint marketing campaign with special bundle pricing has been launched with Yealink in the UK, targeting their major partners.

Commenting on the announcement, Frank Beechinor, CEO of SmartSpace said:

“Overall, our growth story continues within our businesses, with customers continuing to shift their focus to space optimisation. This is as hybrid working continues to be an integral part of our daily working life.  It is therefore easy to see how SwipedOn Desks should be at the forefront of any decision that is focused on employee satisfaction combined with financial and real estate efficiencies.

We look forward to providing a further trading update in August, following our half year end in July.”

* Average revenue per user (ARPU)

** Annual recurring revenue (ARR)

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