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Imaginatik

  • BY: Andrew Hore |
  • POSTED: 17/11/2009 |

Collaborative software company Imaginatik reported strong interim revenue growth but higher marketing spending increased losses.

Imaginatik always loses money in the first half because second half revenues tend to be stronger. Revenues improved from £1.8m to £2.27m in the six months to September 2009 – including £199,000 of barter transactions. Higher staff and marketing costs meant that the loss rose from £250,000 to £647,000. Even if share option costs are excluded, the loss increases from £217,000 to £565,000.

There was a much bigger cash outflow from operations. The total cash outflow during the period was £1.29m. Debtors due after more than one year were £675,000 at the balance sheet date – there were none in the previous year. Imaginatik has signed a number of multi-year deals during the period.

Imaginatik raised £1.576m at 6p a share during August. Net cash was £1.33m at the end of September 2009.

Annaul recurring revenues are running at £3.17m. Renewals are second half weighted.

At 8.25p a share, Imaginatik is valued at £13.1m. 

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