Skillcast Group PLC is ‘delighted with another year of strong performance’, its chief executive officer said as it reports a swing to Ebitda profitability.
The London-based digital compliance content and technology provider expects earnings before interest, tax, depreciation and amortisation of around £500,000 for 2024, against the prior year’s £600,000 loss.
‘This was all generated in the last 6 months of the year, and follows two years of investment after the company’s admission to AIM in late 2021,’ Skillcast noted.
Skillcast also announced that it expects around £13.3 million in revenue, up 18% on-year from £11.3 million. It said the growth is completely organic and driven by recurring subscription revenue, which jumped 29% to around £11.0 million from £8.5 million.
It said annual recurring revenue rose 25% to £11.6 million in December 2024 from £9.3 million one year prior, thanks to sales of new products and the acquisition of new customers.
‘This, combined with a strong pipeline of new business, means that the group is well-positioned to continue to achieve its revenue objectives over the next year,’ Skillcast said.
However, professional services revenue was ‘as anticipated’ down 17% at around £2.3 million from £2.8 million.
‘’We are delighted with another year of strong performance and a return to sustained profitability as expected following our planned investment phase,‘ commented CEO Vivek Dodd. ’Over the three years since our IPO in December 2021, this investment has enabled us to double the size of our recurring subscription business, significantly increasing our scale and breadth of offer.
‘We expect that our SaaS business model and innovative product releases, like Aida - our AI digital learning assistant - will continue driving ARR growth and increasing Ebitda margins further in 2025. We look forward to sharing more details when we announce our full-year results in April.’
Skillcast shares rose 7.5% to 44.60 pence each in London on Thursday.
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