Decision intelligence provider Activeops has said it is “well placed” for further investment after annual profit and revenue increased.
The firm posted a pre-tax profit of £1m, up from a loss of £0.2m the year prior. Revenue meanwhile rose five per cent to £26.8m.
Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) soared 243 per cent to £2.4m, up from just £700,000 in 2023.
Activeops chief executive Richard Jeffery said: “As we look back on FY24, and consider the way ahead, we do so with an increased sense of confidence. The investments into our product and marketing capabilities are delivering demonstrable returns, particularly in terms of strong expansion with existing customers and high retention rates.
“The ability of our products to blend AI and human intelligence with information drawn from other applications to deliver powerful insights is resonating more than ever.
He added: “The strength of our balance sheet and growth in profitability means we are now well placed to invest into our global sales operation to replicate our success on a wider basis, aiming to drive further growth across all our key markets.”
Shares are up over eight per cent this year to date.
Trading over the first few months of the new year has been “in line” with top brass forecasts, with Activeops citing growth in customer expansion.
The AIM-listed group said a “core driver” of success was also the strength and breadth of its team and “robust culture.”
“Results of the prior period investment in product development and marketing give the board confidence to make disciplined and focused investment in the global sales operation in the coming year to look to accelerate organic growth rate,” Activeops said in a statement to markets.