PCI-PAL PLC AGM Trading Update (8563R)
10 Noviembre 2021 - 1:01AM
UK Regulatory
TIDMPCIP
RNS Number : 8563R
PCI-PAL PLC
10 November 2021
PCI-PAL PLC
("PCI Pal", "the Company" or "the Group")
AGM Trading Update
PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure
payment solutions for business communications, is pleased to make
the following update ahead of its Annual General Meeting being held
at 11.00 a.m. today.
The Group has made an excellent start to FY22, performing very
well across its key metrics. As a result, our revenues are
continuing to grow strongly in EMEA and North America as expected.
New contract sales have been particularly strong throughout the
four-month period since the start of our financial year, with a
number of exciting new deals and existing customer extensions
signed. ACV signed in the year to date is currently GBP1.2 million,
taking our key metric of TACV to GBP10.8 million as at 31 October
2021.
New sales included a number of new enterprise customers in both
the UK and US, as well as a sizeable extension in October to one of
our largest customers. New customers have come from a broad
spectrum of sectors but most notably include healthcare, retail,
and utilities. Customer retention rates remained very high as per
the norm during the period.
New partners added include two new global resellers, both US
headquartered, and with extensive international coverage.
Additionally, we announced in October that we had finalised a full
integration to Amazon Connect, Amazon's omnichannel cloud contact
centre solution. Amazon customers can now access PCI Pal services
across its global cloud platform from anywhere in the world via
their existing AWS Marketplace agreements. PCI Pal is the first
global vendor in the secure payments space to achieve this type of
integration with Amazon Connect.
Early in FY21, we reorganised and strengthened our management
structure, creating a new VP level management layer in support of
the executives and department heads, which has allowed the existing
teams to take on more day-to-day management of our business. This
in turn has allowed the executive Board more time to focus on
strategic development opportunities, as well as the initial
intensive stages of defending and countering the patent
infringement claim with minimal disruption to the underlying
running of the business - which continues to perform
excellently.
In April, we raised further funds to continue our expansion into
Canada, Australia and mainland Europe, as well as continuing to
strengthen our product, engineering and support functions. Despite
the overall challenging hiring environment globally today, we have
made solid progress in attracting new key talent to support our
expansion plans. Our new Canadian entity is due to be incorporated
this month and the first hires begin joining from December.
Commenting on progress, James Barham, CEO of PCI Pal, said:
"I am extremely pleased with the Company's strong sales
performance in the first four months of the year in both the EMEA
and North America. We are clearly benefitting from the longstanding
commitment we have made to our technology approach, being the
leader in cloud in our space, and our partner-first sales focus as
we continue to build momentum through our expanding partner
eco-system.
"The legal patent challenge has required time from the Board and
senior management but we have the team in place to continue to
allow us to grow and run the business as well as defend ourselves
rigorously from the claims being made, which are strongly refuted.
We have created substantial momentum in this fast-growing business
in recent years, which is a result of our successful execution
through a disruptive market strategy. We have invested, and will
continue to invest in making our solutions the most attractive to
our customers and partners across the globe and remain very
confident in the outlook for the Company."
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/Nick Rome +44 (0) 797 122 1972
PCIPAL@walbrookpr.com
About PCI Pal:
PCI Pal is a leading provider of Software-as-a-Service ("SaaS")
solutions that empower companies to take payments from their
customers securely, adhere to strict industry governance, and
remove their business from the significant risks posed by
non-compliance and data loss. Our products secure payments and data
in any business communications environment including voice, chat,
social, email, and contact centre. We are integrated to, and resold
by, some of the worlds' leading business communications vendors, as
well as major payment service providers.
The entirety of our product-base is available from our global
cloud platform hosted in Amazon Web Services ("AWS"), with regional
instances across EMEA, North America, and ANZ.
For more information visit www.pcipal.com or follow the team on
Linkedin: https://www.linkedin.com/company/pci-pal/
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END
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