Warrington’s Blue Prism has seen its revenue almost double to £101m (2018: £55.2m) for the last financial year.
However, its losses more than trebled from £(21.6)m in 2018, to £(71.9)m, with operating cash flow falling from £(5.4)m to £(57.9)m over the same period.
In the results, the Group stated that the reason for the negative figures was because it had made a number of investments to “expand globally via spend in sales and marketing” as well as product development. These were across the year, but they were weighted towards the second half. It expected that these would “drive increased revenue in 2020 and beyond.”
“We have made excellent progress in operations and financial performance during 2019, with revenue and MRR exceeding the levels guided to in our trading update in November,” explained Executive Chairman, Jason Kingdon.