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RNS Number : 3291G

PCI-PAL PLC

23 July 2019

PCI-PAL PLC

("PCI Pal" or "the Group")

Trading Update & Notice of Results

PCI-PAL PLC (AIM: PCIP), the customer engagement specialist that secures and protects payment card data for companies handling payments by phone, is pleased to announce a trading update for the financial year to 30 June 2019.

Key unaudited highlights for the year include:

-- The Group has made significant progress worldwide both in growing new customer contract wins and further developing its channel partners.

-- New contracts signed worldwide in the year have a Total Contract Value (TCV) of GBP5.58 million (2018: GBP1.72 million). Within that, North America accounted for GBP1.42 million (2018: GBP0.32 million), an encouraging performance in the North America team's first full year of trading.

-- The recurring Annual Contract Value (ACV) of these new contracts signed by the Group was GBP1.88 million (2018: GBP0.47 million).

-- Continued momentum in channel strategy execution since the half year which included adding global reseller agreements with leading CCaaS(*) vendors TalkDesk and 8X8, both of which led to early customer contract wins. Channel partners produced 85% of the recurring ACV of new contracts in FY 2019.

-- Total contracted recurring ACV(**) now stands at GBP4.03 million (2018: GBP2.16 million) showing the progress being made towards our key goal of delivering sustainable cash generation followed by profitability.

-- Loss before tax for the 12 months to 20 June 2019 expected to be in line with market expectations.

-- Closing net cash was GBP1.49 million (30 June 2018: GBP3.75 million), trade debtors were GBP1.09 million (30 June 2018: GBP0.48 million) and closing deferred revenue increased to GBP2.45 million (30 June 2018: GBP1.13 million). The significant growth in deferred revenue is providing increased forward revenue visibility, reflecting the long-term recurring nature of the Group's business model.

Commenting on progress in the period, James Barham, Chief Executive Officer said:

"The significant progress made by the Company in the period is very exciting. We have continued to deliver on our stated ambitions: becoming the go-to global cloud provider to technology vendors wishing to provide secure phone payment solutions to their customers; rapidly growing our partner-led sales; and proving the agility and popularity of our AWS-based platform by delivering customer solutions across the world.

"I am especially pleased that we have almost doubled our total contracted recurring ACV as well as with the uptake in utilisation of our core AWS-based cloud platform that was launched in October 2017. With all new business provisioned from this platform, we now have live customers across all our cloud instances in EMEA, North America, and ANZ, including our largest ever customer signed to date."

Notice of Results

PCI Pal will announce its results for the financial year ending 30 June 2019 in the week beginning 7 October 2019.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

* CCaaS is Contact Center as a Service

(**) Contracted ACV is the total annual recurring revenue of all signed contracts, whether invoiced and included in deferred revenue or still to be deployed and/or invoiced.

For further information, please contact:

 
 PCI-PAL PLC                              Via Walbrook PR 
 James Barham - Chief Executive 
  Officer 
  William Good - Chief Financial 
  Officer 
 finnCap (Nominated Adviser and 
  Broker)                                 +44 (0) 20 7227 0500 
 Marc Milmo/Simon Hicks (Corporate 
  Finance) 
  Richard Chambers (Corporate Broking) 
 Walbrook PR                              +44 (0) 20 7933 8780 
 Tom Cooper/Paul Vann                     +44 (0) 797 122 1972 
                                          tom.cooper@walbrookpr.com

About PCI Pal:

PCI Pal is a specialist provider of secure payment solutions for contact centres and businesses taking Cardholder Not Present (CNP) payments. PCI Pal's globally accessible cloud platform empowers organisations to take payments securely without bringing their environments into scope of PCI DSS and other card payment data security rules and regulations.

With the entire product portfolio served from PCI Pal's cloud environment, integrations with existing telephony, payment, and desktop environments are light-touch, ensuring no degradation of service while achieving security and compliance.

PCI Pal has offices in London, Ipswich (UK) and Charlotte NC (USA). For more information visit www.pcipal.com or follow the team on Twitter: https://twitter.com/PCIPAL

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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