Dotdigital FY revenues up double-digits

Software-as-a-service provider Dotdigital said on Monday that the twelve months ended 30 June had been "a year of financial and strategic progress".

Dotdigital said FY24 revenues, adjusted underlying earnings and pre-tax profits were all seen in line with market expectations, with revenues up 14.1% at £79.0m, of which 94% was recurring and repeat revenue.

The AIM-listed group stated organic revenues had grown 9% in constant currency terms to £74.3m, while organic average revenue per customer rose 15% to £1,861 per month.

Looking forward, Dotdigital said it had entered the new financial year with "continued positive momentum" despite wider macro global conditions remaining "challenging".

Chief executive Milan Patel said: "Entering the new financial year, the outlook remains positive as marketing teams continue to transition to all-in-one product capabilities with demonstrable ROI. At the same time, our strong net cash position provides the resource to continue investment in organic and inorganic opportunities where appropriate."

As of 0945 BST, Dotdigital shares were down 0.29% at 93.13p.

Reporting by Iain Gilbert at Sharecast.com