- EP&T Global (EPX) expects its annualised recurring revenue (ARR) to grow 85 per cent to $9.8 million over the 2022 financial year
- EPX attributes the projected growth to a 43 per cent rise in annualised contract value over the 2021 financial year to $10.9 million
- CEO Trent Knox says easing COVID restrictions will enable accelerated building access and installations, and generate enhanced sales opportunities
- Shares closed up 44 per cent at 18 cents each on October 21
EP&T Global (EPX) expects the company’s annualised recurring revenue (ARR) to grow by 85 per cent in the 2022 financial year.
EPX aims to optimise buildings for a sustainable future by using its proprietary technology to detect real-time energy inefficiencies and work with building managers to improve operating systems.
In a statement today the company said its ARR was forecast to jump from $5.3 million as at June 30 to $9.8 million by the same time in 2022.
EPX attributed this projected growth in ARR to a 43 per cent rise in annualised contract value (ACV) over FY21 to $10.9 million.
Further, the company reported a 49 per cent increase in contracted building sites from 259 as at June 2020 to 387 as at June this year — an increase of 128 sites.
EP&T Global CEO Trent Knox commented on the announcements.
“As markets and travel restrictions open, the value proposition of the EP&T solution and its subscription engagement model should significantly enhance sales opportunities,” he said.
“We have spent the past twelve months revitalising and boosting interest in all things EP&T, which was realised in our sales as we closed out the 2021 financial year with annualised contract value of $10.9 million — an increase of 43 per cent on the previous year.”
Mr Knox said the company was well-positioned to capitalise on future sales opportunities with an expanding list of verticals, including commercial office, retail, hospitals, schools, hotels, clubs and industrial.
“We are determined to become the world’s most trusted brand in building energy efficiency,” he said.
EP&T confirmed its three-year contract with asset manager DWS remained on track for deployment before the end of FY22. The deal’s ACV stands at $2 million, with a total contract value of $6.1 million.
Shares closed 44 per cent in the green at 18 cents on October 21.