Crimson Tide Announces Solid Mid-Year Financials

Crimson Tide (GB:TIDE) has released an update.

Crimson Tide PLC has reported a revenue increase of 3.3% to £3.1 million for the first half of 2024 and a significant improvement in EBITDA, which rose to £0.3 million from £0.1 million in the prior year. Gross margins also grew to 88.2%, and the annual recurring revenue reached £5.94 million. Despite some operational challenges and a competitive tendering landscape, the company remains optimistic about its growth prospects, especially with the introduction of new upgrades to their mpro5 process management app.

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