- KRM22 said it was on track to meet expectations despite a delay to a small number of contract signings.

The company said it expected to report 2019 full-year performance adjusted loss (LBITDA) in line with market expectations, with revenue of approximately £4.0m, up from £1.3m on-year.

Sterling's recent strengthening had a negative impact on contracted annual run rate (ARR) as well as the 2019 revenue, but slight positive impact on adjusted EBITDA loss, the company said.

'The action taken during 2019 to reduce the cost base combined with the increase in ARR and strong sales pipeline has ensured the company is on track to be adjusted EBITDA profitable and cash flow positive in 2020,' KRM22 said.

The company said it expected to complete the signing of a small number of contracts that were slightly delayed and had fallen into the new financial year.

For 2019, ARR was £4.5m, up from £3.3m last year, reflecting an 18% organic growth rate for the year.

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