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Thursday 07 December 2017

Doleful H1 for Imaginatik

logoImaginatik didn’t have a great end to its last financial year and disappointing H1 results for the innovation software and consultancy company show the current year isn’t going too well either. In the six months to September 30, revenue dropped to £1.73m from the £1.84m of the year ago period and while sales were loaded towards Q2 – providing visibility into H2 – deferred revenue also fell back to £2.62m (vs. £3.35m). The loss after tax deepened to £0.37m vs. £0.26m.

Bright spots were customer renewals, 10 new customers signed during the period (vs. 4 last H1) and the first customers signed up through its channel partner who came on board towards the end of 2016 (3 of the 10 new customers). The overall momentum has apparently carried through to H2.

Due to the nature of the business, there is a lag between sales and revenue at Imaginatik and with its revenue levels this can make life difficult. The partnership with the still unnamed global IT and Services supplier is starting to generate business though so there is scope for improvement and greater volume of business – that is something for the company to build on. 

Posted by Angela Eager at '09:57' - Tagged: results   software   consultancy  

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