Amino accentuates resilience in challenging 2020 | Major Businesses | Business | News | Rapid TV News
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In a trading update, software-led global media technology company Amino Technologies says that despite the impact of Covid-19 it has navigated the pandemic’s challenges and expects to report all key performance metrics and deliver profitability ahead of those from 2019.
Amino 24I 9dec2019
For its fiscal year ended 30 November 2020, Amino expects to report total revenue of approximately $83 million, representing around an 8% increase compared with the same in 2019, and an adjusted operating profit slightly ahead of FY19. The year is also likely to show improved quality of earnings with higher margin software revenue of approximately $20 million, representing about a 50% increase compared with the end of the previous fiscal year. Amino also revealed an exit run rate annual recurring revenue (ARR) of approximately $11 million, up from the $9.5 million reported on 30 November 2019.

The company says that these results would be in line with its software-led strategy to create an increasingly predictable and resilient revenue base, and in doing so has made continued progress in signing new customers, increasing ARR and driving software revenues. With increased visibility of revenues from both new business opportunities and from its focus on growing ARR, the Amino board expects to continue to grow profits and operating cash flow whilst continuing to invest in its product portfolio.

“In a year of unprecedented challenge, we have continued to execute our strategy and delivered a resilient performance,” noted Amino Technologies chief executive officer Donald McGarva.

The pandemic has accelerated structural shifts in viewer behaviour and expectations. Traditional TV and content streaming are converging, with viewers wanting the best of both worlds. To keep pace with this change, the owners and distributors of TV programming need to rapidly evolve their business models. Amino’s technology and solutions make this evolution possible. We enter the new financial year with…a clear strategy to enable the structural shifts in the TV market through innovative software with the aim of delivering significant revenue and profit growth over the medium term. This growth is expected to be delivered both organically, and from the execution of selective M&A opportunities.”