Final Results for the year ended 30 June 2023
Dotdigital Group plc
(“Dotdigital” or the “Group”)
Final Results for the year ended 30 June 2023
Strong profitable growth and cash generation
Dotdigital Group plc (AIM: DOTD), the leading SaaS provider of an all-in-one customer experience and data platform (CXDP), announces its final audited results for the year ended 30 June 2023 (“FY23”).
Financial Highlights
| · | Group revenue growth of 10% to £69.2m (FY22: £62.8m) | |
| o | Recurring and repeating revenue was maintained at 94% of total revenue (FY22: 94%). Contracted recurring revenue continues to represent 79% of total revenue | |
| o | ARPC1 increased 11% to £1,622 per month (FY22: £1,461 per month) | |
| o | ARR2 growth of 10% to £54.4m (FY22: 10%) | |
| · | Adjusted EBITDA3 of £22.0m (FY22: £21.7m) and adjusted operating profit of £14.5m (FY22: £14.5m) | |
| · | Adjusted profit before tax4 of £15.4m (FY22: £14.5m) | |
| · | Adjusted diluted earnings per share increased 6% to 4.43p (FY22: 4.18p) | |
| · | Strong net cash balance on 30 June 2023 of £52.7m (30 June 2022: £43.9m) | |
| · | Proposed final dividend of 1p per ordinary share (FY22: 0.98p) in line with progressive dividend policy | |
Operating Highlights
| · | Growth in all global regions has underpinned the double-digit revenue growth performance at Group level |
| · | Customers continue to expand usage of platform and ongoing product innovation resulting in functionality recurring revenue5 increasing 11% to £24.9m (FY22: £22.3m) |
| · | Launch of next-generation Customer Experience Data Platform (CXDP) and significantly enhanced AI-powered functionality supporting growth in higher value customers |
| · | New technology integrations with partners extending market coverage, with revenue from strategic partners increasing 8% to £31.2m (FY22: £28.9m) |
| · | Investment in people to strengthen international footprint, with headcount up by 15% |
| · | On track to achieve target of Net Zero emissions by 2030 |
| · | Integration of Fresh Relevance on track, acquired in September 2023 post period end, driving step-change in CXDP roadmap. First new joint customer wins already completed |
Milan Patel, Chief Executive Officer of Dotdigital, commented:
“We are pleased to have delivered a year of strong growth and cash generation, slightly ahead of initial expectations, whilst continuing to invest in our growth opportunity and maintaining high profit levels. The Group’s product offering has advanced materially in the year with the launch of our CXDP platform and enhanced AI functionality. We have also bolstered our global teams which is translating into positive momentum.
“The post period acquisition of Fresh Relevance’s personalisation technology and talented team marks a leap forward in our strategy, accelerating our product roadmap and opening up new, high value market opportunities. We start the new financial year with solid global foundations, a substantially enhanced product offering and a robust financial position. We have had an encouraging start to FY24 and look forward to our continued profitable growth.”