FD Technologies (LON: FDP) provided a trading update on Wednesday, highlighting that it is expecting revenue and adjusted EBITDA for the financial year 2022, ending on 28 February, to be in line with its previous guidance.
Earlier, the company projected its full financial year revenue to be in the range of £255 million and £260 million. The adjusted EBITDA is expected to be in the range of £31 million and £33 million.
Previously known as First Derivatives, the company already generated £128 million in the first six months of the financial year, which was a 7 percent increase year-over-year. However, the adjusted EBITDA dropped by 31 percent to £14.9 million.
“I am pleased with our financial performance and the execution of our accelerated growth strategy in what was a year of transformation for the Group,” Seamus Keating, the Chief Executive Officer at FD Technologies, said in a statement.
“I'm excited by the opportunities across our business as we win new customers and continue to develop our offering to drive value, performance and returns.”
Bullish on KX
In addition, the company is bullish on the growth of its KX platform. It grew by 40 percent in the first six months of the year, but its target is to get an annual recurring revenue of at least 25 percent.
“The opportunity for KX to deliver continuous intelligence remains enormous, and we are excited by the traction we are achieving across industries,” Keating said earlier.
Meanwhile, the financial industry technology provider entered a strategic partnership with Microsoft and is expecting this will bring positive momentum for its business in the ongoing financial year.
