Pre-tax losses were reduced at a Coventry cloud-based software company, new results show.
i-nexus Global, which is listed on AIM, reported losses of £ 1.1million for the year as of September 30, 2021, up from £ 2.4million in 2020.
However, the group’s turnover fell from £ 4.1m to £ 3.6m over the same period.
Managing Director Simon Crowther said: “The significant challenges posed by the pandemic continued throughout the year, but the continued investments made in our products and changes to our go-to-market strategy have started to generate an increase in the rate of winning new customers in the fourth quarter. , increased industry recognition and growing confidence across the company as we move towards FY22.
“Our cash conservation efforts and increased revenue have allowed us to trade on a positive EBITDA basis (adjusted for non-underlying items) over the last three months of the year. year, with a visible cash trail.
“Our sales pipeline continues to grow with new strong opportunities created every month and we have seen an overall shortening of sales cycles, which is reflected in our improved conversion metrics. We are therefore entering the new fiscal year with a greater level of optimism.
“The changes brought about by the pandemic have highlighted the need for scalable and robust digital strategy execution tools and the market for our software is growing. We are convinced that we are well positioned, with a differentiated offer, to play a leading role in this maturing market and are focused on a year of growth. “
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