Cirata reports rise in first-half bookings, revenue

(Sharecast News) - Cirata reported a sharp rise in first-half revenue and bookings on Wednesday, as it accelerated its shift toward data integration (DI) software and divested its legacy DevOps assets to focus on higher-growth opportunities.

For the six months ended 30 June, revenue rose to $4.8m from $3.4m a year earlier, while bookings increased 58% year-on-year to $3.8m, driven by a 210% surge in DI bookings to $3.1m.

DevOps bookings fell to $0.7m from $1.4m ahead of the business sale to BlueOptima, which was completed in August for up to $3.5m.

The AIM-traded company cut its adjusted EBITDA loss to $4m from $8.6m and halved its total comprehensive loss to $4.6m from $9.6m, supported by a 60% reduction in cash burn to $3.6m.

Cash overheads fell to $8.5m from $11.8m, with Cirata targeting an annualised cost base of $12 to $13m by the third quarter, down from $16 to $17m at the start of the year.

"In the first half of 2025, bookings grew 58% year-on-year and DI sales increased by 210%," said chief executive Stephen Kelly.

"There is no structural reason why we can't expect continuing triple-digit growth as we look to the near-term.

"Marketing is building stronger pipelines, and our international business is gaining momentum.

"The operating leverage achieved by reducing the annualized costs by over 70% is starting to show.

"By divesting our legacy DevOps assets to BlueOptima, we've sharpened our focus on data integration, strengthened our balance sheet, reduced running costs and removed any drag on overall growth."

The company said it expected bookings to remain weighted toward the second half, with no need for a working capital fundraise in the current financial year.

It added that demand for petabyte-scale data automation is growing rapidly, supported by partnerships with Microsoft Azure and Databricks.

At 1320 BST, Cirata shares were down 5.7% at 16.95p.

Reporting by Josh White for Sharecast.com.