Aferian delivers double digit growth
February 10, 2022
Aferian, the B2B video streaming solutions company, has announced its results for the year ended November 30th 2021.
The company reports double digit growth across the majority of key performance metrics with significantly improved quality of earnings and revenue visibility with an exit run rate ARR up 43 per cent on the previous year. The Group also reports progress against its M&A strategy in the first full year of executing against its 2025 strategy.
Donald McGarva, Chief Executive Officer of Aferian plc, said: ”I am proud of the strong performance we’ve achieved in our first full year of executing and innovating against our 2025 strategy. We have delivered double digit growth across the majority of our key performance metrics and significantly improved our quality of earnings and revenue visibility with an exit run rate ARR up 43 per cent on the previous year. This strong performance was delivered thanks to the incredible teamwork, resilience and hard work of our people and despite ongoing uncertainty brought on by the pandemic and global supply chain issues.
“We enter 2022 in a strong position both financially and operationally. Aferian sits at the centre of the converging worlds of streaming services and traditional pay=TV. This convergence excites our customers, engages viewers and energises our product teams as we continue to innovate new ways to make it easy for people to connect to TV and video when and how they want,” added McGarva.
- Further improved quality of earnings and enhanced revenue visibility
- higher-margin software and services revenue of approximately $22.4 million, up 15 per cent, including recurring revenue of $12.9 million, up 21 per cent
- exit run rate ARR of $15.2 million (2020: $10.6m), up 43 per cent
- Strong balance sheet maintained with strengthened cash position, and new banking facility of up to $100 million to support our targeted M&A strategy
- Continued focus and investment to drive growth in recurring software revenues and conversion of the streaming and pay-TV convergence opportunity, with several strategically important customer deployments achieved during the period across 24i (Canadian Hockey League, Cinessance) and Amino (Go Malta, Cablenet, Optage, Conway, Home Telecom, Hay Communications)
- Successful integration of Danish streaming and pay-TV platform specialist, Nordija (now part of 24i), immediately adding $2.1 million ARR upon acquisition.