KRM22 PLC Half Year Trading Update (5855G)
20 Julio 2023 - 1:00AM
UK Regulatory
TIDMKRM
RNS Number : 5855G
KRM22 PLC
20 July 2023
KRM22 plc
("KRM22", the "Group" or the "Company")
Half Year Trading Update
KRM22 plc, (AIM: KRM) the technology and software investment
company with a particular focus on risk management in capital
markets, today issues the following trading update for the six
months ended 30 June 2023 (the "Period").
The Company has continued to make good progress in the Period,
strengthening the quality of its Annual Recurring Revenue ("ARR"),
and as at the date of this announcement, the Company's ARR exceeded
GBP5.0m for the first time since its IPO in 2018.
KRM22 now has ARR contracts in place for its Limits Manager
product with four of the top 10 Futures Commission Merchants
("FCMs"), three contracts came through direct sales and one
contract through the distribution agreement with Trading
Technologies International, Inc. ("TT"). The Company has additional
Limits Manager and Risk sales opportunities, both direct and
through the TT distribution agreement, that are at an advanced
contract negotiation stage and which, when signed, will result in
two further top tier FCMs using the Limits Manager product.
Limits Manager is just one of five key sales initiatives the
Company is pursuing to achieve its goals and the Company expects
similar success in each of the other four initiatives to further
drive ARR and revenue growth on its path to profitability.
The Company expects to report results for the Period in
September 2023, and these are estimated to be:
-- ARR: GBP5.0m (H1 2022: GBP4.1m)
-- Total revenue: GBP2.4m (H1 2022: GBP1.9m)
-- Cash balance as at 30 June 2023: GBP1.4m (FY 2022: GBP1.9m)
-- Net debt at 30 June 2023: GBP2.1m (FY 2022: GBP1.1m)
Stephen Casner, CEO of KRM22, commented : "The Company achieving
ARR of GBP5.0m is a significant milestone on our journey to create
a GBP10m ARR, cash generative and profitable business. The adoption
of our Limits Manager product by top tier banks and FCMs
demonstrates that our integrated approach to help our customers
create alpha through better risk management is exactly what our
industry is demanding."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
For further information please contact:
KRM22 plc InvestorRelations@krm22.com
Keith Todd CBE, Executive Chairman
Stephen Casner, CEO
Kim Suter, CFO
finnCap Ltd (Nominated Adviser and Broker) +44 (0)20 7220 0500
Carl Holmes / George Dollemore
Alice Lane / Sunila de Silva (ECM)
About KRM22 plc
KRM22 is a closed-ended investment company which listed on AIM
on 30 April 2018. The Company has been established with the
objective of creating value for its investors through the
investment in, and subsequent growth and development of, target
companies in the technology and software sector, with a focus on
risk management in capital markets.
Through its investments and the Global Risk Platform, KRM22
helps capital market companies reduce the cost and complexity of
risk management. The Global Risk Platform provides applications to
help address firms' trading and corporate risk challenges and to
manage their entire enterprise risk profile.
Capital markets companies' partner with KRM22 to optimise risk
management systems and processes, improving profitability and
expanding opportunities to increase portfolio returns by leveraging
risk as alpha.
KRM22 plc is listed on AIM and the Group is headquartered in
London, with offices in several of the world's major financial
centres.
See more about KRM22 at www.krm22.com
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END
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