FD Technologies (AIM: FDP.L, Euronext Growth: FDP.I), previously known as First Derivatives, reported a 7 percent increase in its revenue for the first six months, between March and August, of the ongoing fiscal.
The revenue for the period came in at £128 million, compared to the previous year’s £119.6 million. The gross profit of the company also showed a similar 7 percent yearly growth to £51.7 million.
However, it ended the period with £1.6 million pre-tax losses. In the first half of the previous year, the company generated a pre-tax profit of £7.4 million. In addition, the diluted earnings per share (EPS) dipped to a loss of 7.5 pence.
On an adjusted basis, the EBITDA of the financial industry Technology Provider dropped by 31 percent to £14.9 million. But, it strengthened its balance sheet by reducing the net debt by 62 percent.
Bullish on KX
Additionally, the company highlighted that there was revenue growth of its KX platform that achieved 40 percent of the previous growth target of 25 percent. Moreover, it met the investment targets by expanding the KX go-to-market team by 52 percent.
It signed a total of 41 KX subscription deals in the period, onboarding 12 new customers. Furthermore, the company expanded its service with the launch of the Cloud -first platform, KX Insights.
“The opportunity for KX to deliver continuous intelligence remains enormous, and we are excited by the traction we are achieving across industries,” said Seamus Keating, CEO of FD Technologies.
“The outlook across our businesses is positive, with each business unit expected to meet or exceed its full-year growth target. We are particularly excited by the growing evidence that KX Insights can make real-time decision-making easy to implement for organizations. With its increasing ease of use, deployment freedom and interoperability, backed by our investment in leadership and go-to-market capability, we see KX as strongly positioned to build a market-leading position in continuous intelligence.”
