FinTech Gresham Technologies plc has reported strong growth in its latest annual results.
The software and services company, which specialises in solutions for data integrity and control, banking integration, payments and cash management, said group revenues were up 31% to £48.6 million in the financial year ended 31st December 2022.
Group adjusted EBITDA was up 43% to £10.3m and group cash EBITDA up 76% to £4.3m.
The group finished the year with net cash and cash equivalents of £6.3m and no debt. This is despite significant cash outflows of £4.6m for deferred consideration in relation to the acquisitions of Electra and Inforalgo, and one-off free cash outflows in excess of £2m.
“We are pleased to report another very strong year for Gresham, both financially and strategically, with revenues and earnings closing slightly ahead of recently upgraded market expectations,” said CEO Ian Manocha.
“There was a consistent performance across all product lines and sales regions. Supplementing strong key account growth, we signed twelve new name Clareti clients including several of the world’s largest financial institutions.
“We now have very good visibility across both Clareti and non-Clareti with over £42m of 2023 group revenues already under contract. This, alongside other growth initiatives, continues to provide us with good confidence in delivering further profitable growth in the coming years.”