Pelatro PLC (LON:PTRO) the telecoms marketing software specialist, said it ended 2020 with good visibility on revenues for the coming twelve months.
The AIM-listed group added said sales dropped to US$4mln (2019:6.67mln) in the year to end-December 2020, due to a switch to a recurring revenue-based model and Coronavirus (Covid-19) caused contract delays.
Recurring revenues accounted for 71% of the total and on a rolling annual basis rose 35% to US$5.4mln.
Losses for the year were US$2.1mln (Profit:US$1.0mln).
For the current year to the end of December 2021, revenue visibility is US$6mln, of which US$5.2mln is recurring with a pipeline worth US$16mln in total.
Richard Day, chairman, said its mViva platform had been successfully stress-tested to the extreme during the pandemic when it was implemented across a network of over 400m subscribers without any losses or fall out.
“We started the year with 18 telco customers and increased that to 19; we have focused this year on extending our reach across our managed networks systems services,” he added.
“We ended 2020 in a much stronger position, with a substantial order book and good visibility over revenues for the coming year."