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25 November 2021 ActiveOps plc ( ActiveOps , ' the Company ' , ' the Group ' ) Interim results for the six months ended 30 September 2021 1 ActiveOps plc ( AIM : AOM ) , a leading provider of Management Process Automation ( MPA ) software for running complex and global back - offices , is pleased to announce its unaudited results for the six months ended 30 September 2021 . Financial Highlights : Six months ended 30 September Annual recurring revenue " ARR " 1 2021 2020 Change £ 19.8 £ 17.1 + 16 % Revenue Software and Subscription revenue £ 9.6m £ 8.6m + 12 % Training & implementation " T & I❞ revenue £ 1.9m £ 0.8m + 137 % Total Revenue £ 11.5m £ 9.4m + 22 % Gross margin £ 9.2m £ 7.6m + 21 % Adjusted EBITDA² ( £ 0.2m ) £ 0.1m ( 300 % ) ( £ 1.0m ) ( £ 0.6m ) ( 67 % ) ( 1.40p ) ( 1.19p ) ( 18 % ) £ 0.0m £ 1.3m na ( £ 1.0m ) £ 0.6m ( 267 % ) £ 10.9m £ 1.2m + 808 % Profit / ( loss ) before tax - continuing operations Earnings per share on continuing operations Profit from discontinued operations net of tax Statutory profit / ( loss ) for the period Net cash and cash equivalents • Net Revenue Retention³ at 110 % on a 12 monthly basis , following customer upgrades for both ControliQ and WorkiQ • 137 % growth in Training & Implementation ( T & I ) revenues following slow H1 FY21 due to the impact of Covid - 19 Adjusted EBITDA loss of £ 0.2m slightly ahead of management expectations despite increased investment with operating costs increasing £ 2.0m over the same period in FY21 across sales , relationship management and R & D , with further investment planned for H2 . Strong balance sheet with net cash position of £ 10.9m at the period end . 1 Annual recurring revenue " ARR " at the end of the period , is a non - statutory measure 2 Adjusted EBITDA is earnings before interest , tax , depreciation and amortisation , share based payments and IPO costs . 3 Net Revenue Retention is the change in Annual Recurring Revenue from existing customers at the beginning of the period Strategic and Operational Highlights : Added 5 new customer logos globally • • • Significant expansion sales in all key regions and targeted industries Strong renewals performance with customer retention levels in line with management expectations and historical rates , including three long term Australian banking customers extending their renewal cycle from one to three years ( one within the period and two post period end ) US banking customer becomes first enterprise scale purchase of WorkiQ by an existing ControliQ customer , providing confirmation of the significant up - sell opportunities Releases of significant upgrades to both WorkiQ and ControliQ , including new features to further automate data collection activities and to enable more effective capacity planning for teams working in hybrid home / office situations 60 % increase in software development capacity Creation of dedicated data science function to more rapidly address the many opportunities to exploit Artificial Intelligence within the product set