Skillcast Reports Strong Revenue Growth Amidst LBITDA Loss

Skillcast Group Plc (GB:SKL) has released an update.

Skillcast Group PLC, a provider of SaaS compliance platforms, reported a revenue increase of 15% to £11.3 million for the year ended December 2023, largely due to a 28% rise in subscription revenue. Despite a strong net cash position of £7.2 million, the company experienced a larger loss before interest, tax, depreciation, and amortisation (LBITDA) of £0.6 million compared to the previous year. Skillcast’s focus on new client acquisitions and product enhancements contributed to a 37% growth in Annualised Recurring Revenue (ARR), reflecting a positive outlook for future growth.

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