RPA supplier reports 24% growth

Blue Prism, a supplier of robotic process automation tools, has reported revenue growth of 24% in its recently published half-year report.

Published on 17 June, the report highlights revenues up to £80.4m, from £66.6m in the first half of 2020.

The company has seen bookings in the first half of the year up 35% and a net retention rate of 115% (2020 113%) – and closing annual recurring revenue of £168m. The company said it has seen its cloud-based tools contribute 22% of the new bookings.

Blue prism also expects a decrease of EBITDA loss for the year of £25m (FY 2020 -£40.3m), and notes its top 50 customers spend an average of $1.5m per annum.

In the first half of 2021, Blue Prism up-sold into over 20% of its customer base, driving a net retention rate of 115%, an increase on the 1H20 rate of 110% and in line with 2H20. 

Jason Kingdon, Chairman and CEO, commented: “Bookings grew 35% in the first half, with constant currency revenues increasing by 24%. We continue to attain strong retention metrics and new bookings for our Blue Prism Cloud (BPC) SaaS platform grew 65% year on year and accounted for 22% of new bookings for the period. Whilst remaining disciplined on spending and re-confirming our aim to be cash break-even by the end of the full financial period, we have significantly invested in R&D, enabling a record number of product releases to enhance scale and usability of the core product.

“With over 2,000 customers, we want to remain at the forefront of developing next generation intelligent automation, so we are reviewing our go-to-market model and the product and service formats to ensure we meet the needs for strategic transformation demanded in the C-suite. Our global customer base remains robust.”

In 2020, HTN reported University Hospitals of Morecambe Bay NHS FT introduced the technology from Blue Prism, to automate tasks.

To view the half-year report, please click here.