21 November 2024
Eagle Eye Solutions Group PLC
("Eagle Eye" or the "Company")
AGM trading statement
Positive start to FY25 and a strong new client pipeline internationally
Eagle Eye, a leading SaaS and AI technology company that creates digital connections enabling personalised, real-time marketing at scale, provides the following trading update ahead of the Company's Annual General Meeting ("AGM") to be held at 1.00 p.m. today at MYO, 3 New Street Square, London, EC4A 3BF.
Eagle Eye continues to benefit from the evolution taking place globally in the world of loyalty towards personalised engagement. As announced at the time of the full year results, FY25 has commenced well, with the Company securing several new wins and deepening with existing customers. Customer highlights of the first few months of the year include:
| · | a five-year contract win with Waterstones Booksellers Limited in the UK, |
| · | a five-year contract win with a leading retailer in the UK, |
| · | a contract with Côte to support the business' new employee loyalty and discount programme, |
| · | a multi-year engagement win with RONA in Canada, |
| · | expansion with Loblaw in Canada for the deployment of our "message at till" solution, |
| · | support for Asda's hugely successful 'Cashpot for Schools' initiative, raising nearly £5m for PTAs of schools across England since September, |
| · | increased engagement with Morrisons, extending Eagle Eye's loyalty services to all 960+ Morrisons Daily convenience stores (formally McColl's), and |
| · | continued deepening for EagleAI with E.Leclerc in France and continued joint product innovation. |
With a considerable sales pipeline across all geographies, the Company is focused on further enhancing its Win rate. Partnerships are an area of focus, and Eagle Eye recently became a certified member of the MACH Alliance, a key endorsement of the quality of the Company's technology offering. Conversations with other potential partners are progressing well.
Eagle Eye's commitment to being an excellent place to work has once again been recognised in various awards. The Group was recently ranked as the 3rd most innovative marketing technology company in the world in the TMW 100 awards, climbing up from 7th place last year, and achieved continued high rankings in the Best Companies to Work for, placing 6th in the UK's Best Mid-sized Company to Work For and 7th in the technology category.
New and extended banking facility
Eagle Eye is pleased to announce that it has agreed a new and increased three-year £10m revolving credit facility with HSBC Innovation Bank, which replaces the Company's previous £5m revolving loan facility with HSBC. The new facility includes an additional £10m accordion, subject to credit approval at the time, should there be an appropriate investment opportunity. The new facility can also be extended for an additional year and provides the business with improved security and flexibility over its financing options across the medium term as the Company executes on its growth strategy.
Outlook
The proven ability of personalised marketing and engagement to delight customers and increase loyalty, profitably, together with Eagle Eye's position as the leading enterprise personalised loyalty solution, continues to drive interest in its solutions, both from prospective customers and partners. As previously announced, the increase in ARR at the start of FY25, alongside the strength of the pipeline and the Company's careful approach to cost management, provides confidence in FY25 performance.
The growing global adoption of personalised loyalty presents a considerable opportunity within all Eagle Eye's target markets, and with an expanding customer base and strong pipeline, the Board sees a long runway of growth ahead.
Enquiries:
| Eagle Eye Solutions Group plc | Tel: 0844 824 3686 |
| Tim Mason, Chief Executive Officer | |
| Lucy Sharman-Munday, Chief Financial Officer | |
| | |
| Investec Bank plc (Nominated Adviser and Joint Broker) | Tel: +44 20 7597 5970 |
| David Anderson / Nick Prowting / St John Hunter | |
| | |
| Shore Capital (Joint Broker) | Tel: +44 20 7408 4090 |
| Corporate Advisory: Daniel Bush, David Coaten, Lucy Bowden | |
| Corporate Broking: Henry Willcocks | |
|
| |
| Alma Strategic Communications | Tel: +44 20 3405 0205 |
| Caroline Forde, Hannah Campbell, Kinvara Verdon |
|
About Eagle Eye
Eagle Eye is a leading SaaS and AI technology company enabling retail, travel and hospitality brands to earn the loyalty of their end customers by powering their real-time, omnichannel and personalised consumer marketing activities, at scale.
Eagle Eye AIR is a cloud-based platform, which provides the most flexible and scalable loyalty and promotions capability in the world. More than 850 million personalised offers are executed via the platform every week, and it currently hosts over 500 million loyalty member wallets for businesses all over the world. Eagle Eye is a certified member of the MACH Alliance and is trusted to deliver a secure service at hundreds of thousands of physical POS destinations worldwide, enabling the real-time issuance and redemption of promotional coupons, loyalty offers, gift cards, subscription benefits and more.
The Eagle Eye AIR platform is currently powering loyalty and customer engagement solutions for enterprise businesses all over the world, including Asda, Tesco, Morrisons, Waitrose and John Lewis & Partners, JD Sports, Pret a Manger, Loblaws, Southeastern Grocers, Giant Eagle, and the Woolworths Group. In January 2024, Eagle Eye launched EagleAI, a next-generation data science solution for personalisation, already being used by leading retailers worldwide including Carrefour, Auchan and Pattison Food Group. Web - www.eagleeye.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
