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Following a positive end to FY12 (see here) product lifecycle software and services provider Sopheon is heading into its AGM with the news that full year 2013 revenue visibility from contracted business and recurring revenue is running above £8m vs. £7.5m from the year ago period. The increase is primarily due to increased services activity, which is being delivered by new hires but also extensive use of subcontractors. The downside is that costs are rising and although management is trying to minimise the effect by setting higher licence sales goals these have yet to come through. With the end of the month in sight, the company needs to close considerable business by the end of June to stave off a yoy revenue decline. Licence sales and new customer revenue have been an issue for Sopheon over the last couple of years and the pre-AGM announcement shows there is still work to be done to get the balance of the business right.
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Sopheon H1 under strain
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