02:00 Thu 21 Nov 2019
Blue Prism Group PLC - Trading Update
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TRADING UPDATE
The Group has seen a significant acceleration in sales in the second half of the year, contributing to a very strong full year performance. Sales volumes have continued to be high, particularly in upsells, and increased deal sizes have driven material additions in the total business generated in the year. As a result, the Group enters 2020 with a record order book.
Sales progress
The Group added 685 net new customers during 2019 while maintaining a customer retention rate of 96% (2018: 97%).
The total customer base at
In 2019 the Group demonstrated its future upsell potential with significant success with the existing customer base resulting in 1,139 upsells into 544 customers. These upsells demonstrate the software's scalability and the strategic nature of customer deployments.
The Group is also very pleased to note that the first significant cohort of one-year-one-Digital-Worker deals in the fourth quarter of 2018 is demonstrating good early progress with 38% of the customers upselling during 2019.
Financial progress
Sales momentum has resulted in a very strong financial performance with total business (which measures the total contract value from new customers, upsells and renewals) over the period of
The Group expects 2019 revenues to be at least
The Board estimates that the exit monthly recurring revenue (MRR) at
"We have delivered an excellent performance across 2019, particularly in the second half of the year where we have seen record quarters in each of our key geographies. We have continued to expand our enterprise customer footprint and our track record of upselling into these customers is enviable, with increases in both the volume and sizes of these upsells in the second half of the year.
The momentum we have seen this year begins to reflect the investments we made across 2018 and investments we have made in this financial year will now begin to impact 2020 and beyond. RPA is fast emerging as a significant software category, customers are beginning to materially scale their deployments and
Full Year results
Contact details
For further information please contact:
Andrew Pinder
Sebastian Lawrence
Carlton Nelson
Matt Dixon
Dwight Burden
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