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Prophecy International (ASX:PRO) reports significant growth since last year
  • Software company Prophecy (PRO) has reported its first half of the financial year 2020 results, showing a significant improvement since 2019
  • The company reported a revenue increase of nearly 20 per cent against the same period last year
  • It remains debt-free and recorded cash on hand in excess of $4 million at the end of the half
  • Prophecy is up 24.18 per cent on the Australia Securities Exchange and is trading at 56¢ apiece

Software company Prophecy International Holdings (PRO) has reported its first half of the financial year 2020 results, showing a significant improvement since 2019.

The company reported a revenue increase of 19.5 per cent against the same period last year.

According to preliminary and unaudited financials from the first half, Prophecy expects sale revenue of approximately $7.31 million from $6.12 million for the same period last year.

The company remains debt-free and has cash on hand in excess of $4 million at the end of the half.

This represents revenue growth of 19.5 per cent against the same period last year for the combined Snare and eMite businesses.

"Overall this is a great result and shows that not only are we continuing to grow but we are in fact accelerating and delivering a profit while we grow," CEO Brad Thomas.

"Snare continues to perform well on the back of our U.S. business, our eMite relationship with Genesys continues to deliver results and the early response to our Amazon Connect offering has been incredibly positive with some large customers and partners coming on board since launch," he added.

The first-half results have been influenced by the increased sales from Snare and eMite, as well as the launch of that offering on Amazon Marketplace.

CX Intelligence by eMite provides a software as a service (SaaS) based on real-time and historical analytics platform, dashboards, wallboards, KPI and orchestration products for Customer Experience, Contact Center & IT Operations environments.

Prophecy is also about to launch an offering at the Genseys Sales Kick Off in Orlando. This offering will assist customers to migrate from their legacy on-premise contact centre solution to the cloud.

"We continue to make investments in growing our US business and are adding new resources into EMEA to capture the opportunity we see across all our products. We now have 6 people in the U.K. where a year ago we only had two," Brad said.

"With CX Intelligence for Genesys Cloud, CX Intelligence for Amazon Connect, a new channel through Amazon Marketplace, new cloud migrations offering and new product launches for Snare we are looking forward to further growth in the second half," he added.

The company says the full audited results should be available to the market in late February.

Prophecy is up 24.18 per cent on the Australia Securities Exchange and is trading at 56¢ apiece at 12:52pm AEDT.


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