Fadel Partners, Inc., a brand compliance and rights and royalty management software provider, has released its half-year report for the six months ended June 30, 2023. The financial highlights of the report show a 20% decrease in group revenue, with recurring revenue accounting for 81% of total revenue. Gross profit decreased by 34%, and adjusted EBITDA showed a significant decrease of 698%. However, net cash increased by 6735%.
In terms of operational highlights, Fadel Partners has executed its growth strategy as planned, with strong progress in new customer acquisition. The company has seen increasing interest in larger, enterprise-level contracts and has made strategic hires to support its growth ambitions. Fadel Partners has also launched new product offerings, including Content Tracking and enhancements to Content Cloud capabilities, which have attracted new customers and further embedded the company in existing clients.
The current trading and outlook for Fadel Partners are positive, with strong sales momentum continuing into the second half of 2023. The company has a growing pipeline of opportunities with new and existing clients in various industries, providing confidence in its near to medium-term outlook. Fadel Partners is well positioned to capitalize on the significant and growing market opportunity in the digital content and IP market.
CEO Tarek Fadel expressed satisfaction with the progress made in the first six months of FY23 and since the company's IPO in April. The funds raised at IPO have allowed Fadel Partners to make strategic hires, accelerate the release of new product offerings, and invest further in the business. The outlook for the company remains positive, with increased demand for its offerings and confidence in its future growth.
Fadel Partners, Inc. is a developer of cloud-based brand compliance and rights and royalty management software. The company works with leading licensors and licensees across various industries and offers solutions such as IPM Suite and Brand Vision. Fadel Partners is headquartered in New York and operates in multiple countries.