NetDimensions narrows loss despite smaller revenue

Performance, knowledge and learning management systems provider NetDimensions announced its half year results to 30 June on Monday, with total revenue of $10.5m narrowing slightly from the $10.6m reported in the first half of 2015.

The AIM-traded firm highlighted a 6% increase in revenue from its global hosted secure software-as-a-service offering to $5.4, however, up from $5.1m.

Gross margins increased to 85%, from 81% year-on-year, with a 56% improvement in adjusted EBITDA loss to $0.8m.

The board posted an 8% reduction in the cost of sales, selling & operating expenses to $11.9m, with cash at period end of $11.2m, down from $12m at the start of the period.

“The company made good progress in the period in terms of better cost control and declaring a substantially smaller loss than the prior period,” said chairman Graham Higgins.

“The company did experience some delays in rolling out some larger client contracts in the first half, however the high consequence industries which we service continue to show demand for our product suite.”