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(Sharecast News) - Eagle Eye said on Friday that full-year trading was ahead of recently upgraded expectations after annual recurring revenue rose 31% to 44.5m, supported by major customer wins, expansion within existing clients and the first contracts secured through its global OEM partnership.
Revenue excluding the lost Neptune Retail Solutions contract increased 21% to 46.1m, while adjusted EBITDA reached 9.8m, materially ahead of the 7.0m market consensus, with a 21% margin.
The AIM-traded group ended the year with net cash of 16.1m and entered FY27 targeting a return to double-digit revenue and EBITDA growth.
New business included contracts with easyJet, Subway and a major UK health and beauty retailer, while the first two OEM customers are expected to contribute about 2m of annual recurring revenue from FY27.
Eagle Eye also reiterated its medium-term ambitions of more than 100m in revenue and an EBITDA margin above 30%.
At 0906 BST, shares in Eagle Eye Solutions Group were up 6.3% at 494.3p.
Reporting by Josh White for Sharecast.com.
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