Alfa Financial Software Holdings PLC has released its Q4 trading update, revealing an increase in expected profits for the year by £1m. The company has seen strong trading performance, with double-digit growth in subscription revenues and a record 35 deliveries for the year. The Q4 financial highlights include a shift to a fully subscription-based model, resulting in strong sequential growth. Despite a decrease in software revenue due to internal product investment, overall revenue growth for the year was in line with expectations, up 9% on FY22.
Alfa's excellent delivery performance has continued through a busy Q4, with a record number of 35 deliveries in the year, including seven new customer go-lives, three of which were for major new customers. The company has also made significant progress in converting late-stage pipeline opportunities into wins, with Total Contract Value ("TCV") expected to finish the year significantly ahead of 2022, driven by strong growth in subscription TCV.
Andrew Denton, Chief Executive Officer of Alfa, expressed delight in the company's performance, highlighting strong revenue growth, a record number of deliveries, and an exciting product roadmap. The company's pipeline remains robust, with strong growth in subscription TCV driving overall TCV growth. Alfa Financial Software Holdings PLC will report its full-year results on Thursday 14 March 2024.
Alfa Financial Software Holdings PLC has been delivering software systems and services to the global asset and automotive finance industry since 1990. The company's class-leading technology platform, Alfa Systems, supports both retail and corporate business for auto, equipment, wholesale, and dealer finance on a multijurisdictional basis, providing compelling solutions to asset finance companies.