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Cautious customers did close on a set of business deals that Sopheon had high hopes for but with some spilling over into July they missed the H1 cut-off, which is partly why Sopheon’s H1 revenue is expected to be similar to last year. Higher staffing levels have also taken their toll. However, revenue visibility, which was reported as being up in a pre-AGM trading update last month (see Sopheon: Still heading in the right direction), has been raised again from $6.6m to $7.8m
Sopheon’s overall performance has been positive but there are some areas of concern (see Sopheon: strong results but dismal UK performance) that we may see addressed when its interim report is issued on 25 August. While it looks like H1 revenues will essentially and be flat and EBITDA is expected to be lower (due to staff increases), Sopheon says its sales pipeline is strong, so the company has a good basis for further improvement.
