Bath digital pioneer Actual Experience believes it is on the cusp of major growth after clocking up a 48% increase in half-year revenues.
The advanced analytics firm, which signed a five-year framework agreement with Vodafone in March, said its financial results for the six months to the end of March did not reflect its true potential.
CEO Dave Page said: “The contracts signed in the first half of the year have seen Actual Experience considerably widen its channel partner network.
“Alongside our direct customer base, we are now engaged with four major technology businesses, three of whom have signed multi-year framework agreements for the distribution of our analytics service. While the financial results continue to show growth, they do not yet reflect the significant potential of these agreements.”
While revenue increased to £486,635, its operating loss more than doubled to £2.6m.
Staffing at the firm, which also has offices in London, New York and Seattle, increased from 34 last September to 48, which it said contributed to a significant increase in administrative expenses.
The firm’s unique digital analytics as a service is founded on 10 years of cutting-edge research at Queen Mary University of London. Since its launch in 2009 it has become the market leader in advanced analytics for managing digital business quality. It floated on the London Stock Exchange’s AIM market in 2014.
It says its pioneering products can bring about a step change in efficiency and an end to glitches that dog digital platforms such as buffering and poor internet connections.
In January it received a significant order to white label its service for a leading – and unamed – US-based technology company.
Under the agreement with Vodafone, Actual Experience’s digital experience quality analysis will be integrated into Vodafone’s long-term quality improvement processes and key performance indicators across its enterprise and consumer markets, products and services.
It had already signed two agreements – a three-year deal with Verizon Enterprise Solutions and a three-year agreement with a Top 100 global brand.
Mr Page said a £15.2m investment secured last June had enabled it to invest in its operations to ensure it had the infrastructure to support these partners.
“We are excited about their potential,” he said. “We continue to target additional channel partners and there are opportunities in development with some of the world’s largest technology and service companies.
“We look to the second half of the year and beyond with confidence.”
