Data solutions provider D4t4 has reported a drop in revenue of 12.6 per cent to £21.4 million.
Software revenue increased by 9.6 per cent to £19.1 million and annual recurring revenue was also up by 19 per cent to £16.7 million.
D4t4 CEO Bill Bruno said his company was transforming into a software sales organisation and selling Celebrus software.
He added the financial year for D4t4 ended in a frustrating manner with the delay of two contract signings, but that he is “pleased with the effort from the team globally, and will continue to improve investments and strategy in a data-driven manner.
“We have transformed quickly and efficiently as a business, and that speed will continue alongside the growing pipeline.
“We have started the new financial year well and we are confident in our ability to deliver growth.”
In 2022 the company reported an annual recurring revenue increase by 32 per cent to £14 million, whilst revenues were up 7.3 per cent to £24.5 million.
Despite this, however, the company’s share price had dropped throughout the year by 32 per cent.
Bruno said the company’s goal is to deliver ARR growth and shareholder value with a focus on sales.
“New logos and growing existing accounts are our core area of focus. We are becoming a far more sales-focused organisation, and that culture will drive the winning attitude needed to sustain the growth we know this business can deliver.”
