Fadel Partners Inc - New York-based media rights and royalty management software developer - Expects revenue to be in line with market expectations, up 10% at $14.5 million in 2023, from $13.2 million in 2022. Says that recurring revenue jumped 31% to $11.4 million from $8.7 million. The company expects ‘strong’ services revenue of $3.1 million for 2023, albeit 31% lower than $4.5 million in 2022. Anticipates loss before interest, tax, depreciation and amortisation to be less than $200,000, narrowed from $1.5 million. Fadel plans to release its 2023 results in April.

Chief Executive Officer Tarek Fadel says: ‘It has also become increasingly clear that many of our existing and prospective customers require the solutions provided by both of our product families and we are delighted about the future prospects for the company. The growth in recurring revenues, the opportunity to increase our revenues from our existing and prospective clients and the encouraging pipeline, alongside resuming delayed professional services engagements, underpins our revenue growth plans for 2024.’

Current stock price: 141.00 pence

12-month change: down 4.1%

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