Netcall is looking to accelerate growth in its cloud offering as the AIM–listed tech firm reported a rise in customer demand.
The Bedford-based business posted a 25% increase in turnover for the latter six months of 2024 to £23m, as higher subscription rates led to stronger recurring revenues.
The firm said there was a strong uptake in cloud services from new and existing customers, with sales from the product rising by 45% from the same period last year.
The group’s flagship cloud product is its contact centre as a service subscription that is used by businesses to manage customer interactions.
Netcall’s cloud products represent 76% of its total annual contract value and CEO James Ormondroyd, appointed in January 2024, told UKTN improvements to its automation capabilities through the acquisition of generative AI startup Parble for €10m last year would see that growth accelerate.
Parble’s AI document processing technology is being incorporated into Netcall’s cloud platform Liberty and will be available next month.
“That’s been really well received by our customers,” Ormondroyd said. “We’ve already made the first sales even before product integration.”
The Netcall chief said its other recent acquisition, Govtech, has allowed it to expand its work with local council authorities.
At the end of the 2024 financial year, the company pulled in revenue of £39.1m. The company said it expected to end the year with “double digit growth”.
Netcall shares were up as much as 2% at the opening of the markets, reaching £1.16. The company’s share price has more than tripled in the past five years.
It is targeting a share price of £1.30 by the end of the calendar year.
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