Alfa Financial Software Holdings PLC has released its Q3 trading update, reporting that its performance is in line with expectations. The company saw double-digit growth in subscription revenues, continuing the strong sequential growth seen since the migration away from perpetual licenses. However, software revenue was down compared to the same period last year due to reduced chargeable development days and the transition to a subscription license model. Services revenue was slightly up on the same period last year. Alfa is now focusing its engineering efforts on future product roadmap development, with the release of Alfa Systems 6 planned for the next twelve months. The company has also decided to integrate its development of artificial intelligence (AI) more closely with its product roadmap. Alfa has continued its strong delivery pace in Q3, with nine go-live events and a successful new UK Alfa Start go-live. The company's pipeline remains strong, with eleven prospects in the late stage pipeline and two more close to signing complete contracts. Alfa expects strong growth in subscription revenues and more modest growth in services revenues in Q4, while software revenues will be down due to non-chargeable product development work and reduced customised license revenue recognition. The company's expectations for the full year to 31 December 2023 remain unchanged.