Record profits for Exponential-e fuelled by increased demand for cloud services
Cloud and network provider posts revenues of £97.4 million while pre-tax profits rising to £10 million
3rd May 2017
Exponential-e, the British cloud and network provider, has reported a 26 per cent rise in revenues for the financial year ending January 31st, 2017. This was driven by an increase in demand for cloud network computing and managed services by an ever-expanding customer base. The results are ahead of forecast.
The headline performance figures for the period are:
Revenue: £97,434,956 (£77.3 million) – 26 per cent growth
EBITDA: £20,067,196 (£13.8 million) – 45 per cent growth
Profit before tax: £9,937,789 (£6.7 million) – 48 per cent growth
Commenting on the figures, Exponential-e CEO Lee Wade said: “The last year has been incredibly successful for the business, delivering record revenues. Customer acquisition has continued to rise, fuelled by strong demand for our cloud-based offerings, which we passionately believe are amongst the best in the world.”
“Our model is built to deliver innovative, ‘non-stop compute’ solutions, that use best-of-breed technologies. These have proved very popular with our customers over the last 12 months and have contributed to this revenue growth. Our clients recognise our expert R&D capabilities to develop solutions that help them and their IT department become a service enabler for their businesses. As such, they see us as a partner, not a supplier. It is this trust that ensures our growth year-on-year.”
The last 12 months have seen Exponential-e develop a range of new products and services. In July, it was the first company in the UK to launch an SD-WAN proposition, which allows companies to centrally assign and manage application policies across multiple sites and scale bandwidth up or down as required. Whilst in February it made a 10 Gigabit Internet service available, which is over 400 times faster than the Government’s minimum definition of superfast broadband, available to businesses throughout the UK.
It also expanded its operations outside London, moving its Manchester office to a new, bigger location and growing its head count there to 20 people. Earlier in April, it appointed Afshin Attari as its Director of Public Sector who is tasked with significantly growing the company’s presence in the government computing space.
“Despite the ongoing market uncertainty, we anticipate the next 12 months will continue to be positive. Our determination to innovate and create world-class products ahead of the market will endure and hold us in good stead. As further commitment to this part of our business, we have earmarked £2 million to be used solely for research and development. At the heart of our business are our smart people and customers that play an integral role in supporting Exponential-e in its ongoing transition to becoming a global IT player. We will continue to invest in and impress them respectively to ensure our growth continues.
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