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ATTRAQT Group PLC - Trading Update

RNS Number : 6212L
ATTRAQT Group PLC
14 January 2021
 

14 January 2021

Attraqt Group plc

("Attraqt" or the "Company")

 

Trading Update and Notice of Results

 

Attraqt Group plc (AIM: ATQT), a leading provider of online search, merchandising and personalization solutions for ecommerce, is pleased to announce its trading update for the year ended 31 December 2020.

 

The second half of the year has seen strong momentum built with recurring revenue bookings 80% higher than in the first half, achieved from both existing and new customers. Momentum has been driven by the significant growth in online retail, the addition of innovative Artificial Intelligence (AI) Search capabilities which were acquired from Aleph Search in October 2020, and a continued focus on execution.  Consequently, revenue and EBITDA for the full year are expected to show growth in line with market expectations.

 

The Group signed 38 multi-year contract renewals in the year, compared with 21 renewals in 2019. This included a three-year contract renewal in the second half with one of its top five customers, a leading global sportswear retailer, with a value of £2.4m. The increase in renewals is testament to the ongoing strength of Attraqt's offering and illustrates how integral the Group's software is to the effective operation of many of the world's leading retail brands' online retail operations.

 

Since the initial onset of the pandemic in March, the Group has seen a significant and sustained increase in usage volume (e-commerce website activity) across the customer base. The widespread adoption of online retail has accelerated with monthly traffic on the Attraqt platform up between 15% and 45% compared to 2019. With further lockdowns and retail stores closed in key territories these increased traffic levels are expected to persist in the short term and for there to be a continued trend of eCommerce sales growth outpacing pre-Covid levels in the longer term. Once again, we were pleased that our systems recorded 100% availability through the peak trading periods of Black Friday and Christmas. 

 

Despite the momentum seen in the second half, we remain cognisant of the pandemic's ongoing impact on the global economy and customer decision making.

 

The Company currently expects to announce its annual results in early March 2021.

 

 

For further enquiries please contact:

 

Attraqt Group plc

Via Alma PR

Mark Adams, CEO

Eric Dodd, CFO

 

 


Canaccord Genuity (Nominated Adviser)

Simon Bridges

Adam James

Thomas Diehl

 

+44 (0)20 7523 8000

Alma PR

+44 (0)20 3405 0205

Rebecca Sanders-Hewett

Susie Hudson

Sam Modlin

attraqt@almapr.co.uk

 

About Attraqt Group plc

 

Attraqt powers exceptional shopping experiences for over 300 of the world's leading brands, manufacturers and retailers. Attraqt provides a set of API-enabled, algorithm-driven, intelligent SaaS services covering personalization, search, navigation, merchandising, recommendations and internationalization.

The platform unifies and empowers all key customer journey stakeholders. Enabling business, data and technical teams to successfully leverage existing eCommerce technology investments. Ultimately ensuring individualized and connected micro-experiences that support commerce discovery through to inspiration and purchase, and beyond.

The Attraqt platform orchestrates AI models in real-time while allowing clients to integrate their own algorithms. This helps build true personalization strategies and creates differentiated experiences at scale, so our customers can exceed the expectations of today's shopper, while reaching commercial goals.

Attraqt is publicly listed on LSE: AIM and headquartered in London, with offices in Amsterdam, Chicago, Paris, Sofia, Hamburg and Sydney.


www.attraqt.com

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