Blue Prism revenue up 40%

Blue Prism’s latest update shows strong revenue growth and acceleration to cloud

Full-year trading update out this morning from Blue Prism, provides a snapshot into how the firm, and indeed the wider automation space, has been faring since the outbreak of COVID.

Blue Prism saw full-year bookings of £180m contributing to c.40% growth in revenues in line with expectations. 60% of sales were secured in the second half of the year whilst £122m of which represented new business from new customers or upsells. The firm also closed the year with around £154m in annual recurring revenues (ARR) and “continues to make progress towards cash break-even during 2021”.

Blue Prism has accelerated its move to cloud with 147% growth in bookings here now contributing around 17% of all new bookings achieved by the Group, and starting to repay the investment made in the Thoughtonomy acquisition from the middle of last year.

Blue Prism said it added more than 490 new customers during 2020 while maintaining a gross revenue retention rate of around 98%. The total customer base on 31 October was over 2,000, up from 1,677 year-on-year, providing an increased foundation to build on in future periods with further upselling.

The Group also continues to diversify geographically with revenue now split 41% from the Americas, 47% from EMEA and 12% from APAC, showing its global appeal.

Read more here: Blue Prism revenue up 40%

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