Monday, March 1, 2021

Revenues rise at CloudCall despite 2020 being “undoubtedly a year of two halves”

Revenues have risen at CloudCall, according to a trading update for the year ended 31 December 2020.

The Leicester-based integrated communications company is expecting to achieve revenues of £11.8m for the year, a 4% increase on the year prior, while recurring revenues will have increased by 13% to £10.3m when compared to the previous year.

The company said the annual figures “mask the true story of 2020 which was undoubtedly a year of two halves.”

In the first half of 2020, following a positive start to the year, CloudCall said the initial shock waves of the global COVID-19 pandemic materially slowed sales and increased churn levels.

Across the second half of the year, performance steadily improved in all areas and the company noted that that “the ongoing pandemic had a limited negative impact in the final quarter of the financial year.”

During the year, the firm’s number of end users grew to 48,255.

Simon Cleaver, Chief Executive Officer of CloudCall, said: “As the year progressed, the significant COVID-19 headwind we encountered in the first half of the year has reversed, to become an important adoption driver for our products and services.

“This is strongly evidenced in the recovery in our sales and marketing KPIs during the second half of the year. Many of which have now improved to levels above where they were before the COVID-19 pandemic took hold.

“Whilst COVID-19 continues to impact the broader global economic environment, I am pleased to report that despite these challenges, we have been hard at work strengthening the business with considerable investments in sales and marketing, our senior management team and our internal tools and processes, all of which improve our scalability and readiness to drive forward as the markets return.

“We are already seeing the benefits of these investments in 2H 2020 and we look forward with confidence to a strong return to growth in 2021 and beyond. Once again, I would like to extend my thanks to our much-valued employees, partners and customers for their extraordinary work and support over the past twelve months.

“Whilst it has been a challenging year for many, we remain collectively focused on achieving our goal and growing CloudCall into the go-to integrated communications company for CRMs.”

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