Cloud services provider Bulletproof has informed the market its full year revenue is set to jump by 67 percent to AU$47 million.
The company said the revenue growth was a result of acquired and organic revenue, and was well ahead of market growth rates.
"Of this revenue, recurring sources are expected to make up close to 80 percent of the total figure. Cash flow is positive for the year, with a closing cash balance of $4.6m," the company said.
On the earnings side, Bulletproof said its earnings before interest, taxes, depreciation, and amortization is expected to be in the range of AU$4.6 million to AU$4.7 million for the full year, an increase on the AU$4.2 million reported last year. However, the company's operating profit will be down from AU$850,000 from last year, to fall within the range of between AU$600,000 to AU$700,000.
A drop in the usage of the company's consulting and professional services during the second half of the year, and product development costs were cited as reasons for the profit dip. In both cases, Bulletproof said it expects to see revenues jump in the coming year.