ActiveOps secures new client wins and contract expansions in H1

ActiveOps stated a "leading North American banking customer" had inked an enterprise-scale licence for the group's WorkiQ product, the first of its top-ten customers to take a WorkiQ licence at scale, something the company said demonstrated the upsell potential for its newer WorkiQ offering.

In regards to new logo wins in the first half, the AIM-listed firm said they had "been strong", adding an unnamed "large insurer and a healthcare payer" in the US and in a "major BPO, an investment management firm and a global consulting and services group" in the UK.

ActiveOps also said many of its largest customers had expanded their use of ControliQ in the period, including three of the UK's leading high street banks, while one of its Australian banking customers transitioned from an annual licence for ControliQ to a multi-year contract, increasing revenue visibility.

Chief executive Richard Jeffery said: "With many organisations beginning the transition to new working arrangements involving home and office working, hybrid working solutions are at the forefront of many managers' minds. This complexity of managing the challenges of work and capacity shows no signs of abating, and only amplifies the pressure and stress on critical back-office operations.

"We know that the combined insights, visibility and productivity provided by our ControliQ and WorkiQ products are standing our customers in good stead as they navigate this period of significant further change in the world of work. This is seen both in increased scale of our involvement with existing customers and in the level of new sales as organisations seek better orchestration of their work and resources in the face of new challenges."

As of 0945 BST, ActiveOps shares had shot up 10.19% to 176.30p.