Amino “achieves FY guidance despite pandemic”
February 9, 2021
Amino Technologies, the software-led global media technology company, has reported its 2020 results.
Amino says it saw a strong financial performance, demonstrating that its software-led strategy is delivering results, with all key metrics tracking ahead of the prior year.
Amino maintained guidance through the pandemic, and is now achieving pre-Covid market expectations.
All key metrics tracked ahead, while with increased visibility of revenue:
- High margin software revenue is up 49 per cent to $19.5 million now 24 per cent of Group revenues;
- Exit run rate Annual Recurring Revenue is up 12 per cent to $10.6 million;
- Delivering significant cash generation with $9.5 million on balance sheet and no debt.
The team delivered key new business wins through the pandemic at Slovak Telecom, CWC, Broadway HD and Topic.
Amino Technologies CEO Donald McGarva, stated: “Despite the impact of Covid-19, in 2020 Amino delivered a strong performance and we maintained our previous financial guidance through the year. All our key metrics tracked ahead, demonstrating that the software-led strategy we are following is delivering results. Like many, our business model has been tested in this challenging year but the financial and operational progress we have made, along with the opportunity we see ahead, give us the confidence to recommend a dividend. I would like to thank our amazing Amino team for seamlessly adapting to remote working, staying close to our customers without missing a beat and continuing to innovate throughout the pandemic.”
“To position Amino for future success, we recently launched our Amino 2025 strategy to capitalise on the convergence of streaming services, which is where we see the greatest opportunity for growth. Covid-19 has accelerated structural shifts in the TV viewing experience. Modern consumers not only want the ‘best of both worlds’ – video on demand and live TV working together seamlessly – but they increasingly expect it. Our Amino 2025 strategy is built around making this expectation a reality.”
“Our business and culture stand stronger today. With a pressing need for the solutions and services we deliver, Amino is trading in line and has started the new financial year from a position of strength. We have a clear strategy to drive software-led growth and to capitalise on real structural shifts, supported by our enhanced visibility and an acute focus on driving recurring revenue and strengthening our long-term customer relationships. We look forward to making further progress in the year ahead,” concluded McGarva.