Eagle Eye, the digital loyalty company for the retail and hospitality sectors that initiated an IPO in April, has said that revenue was above £1m during the first quarter of FY2015, which was ahead of management’s expectations and driven by new customer wins, increased transactional revenue and growth in our messaging business.
It said that the year ended 30 June 2014 was transformational for the group which has continued to trade very well since then.
Transactional revenue grew to represent approximately 85% of total revenue for the first quarter of financial year 2015, up from representing 67% for the financial year ended 30 June 2014 and in line with the group’s strategic focus.
The company said it also continued to make good progress in increasing the number of retailers and brands using the Eagle Eye AIR platform, which as of 30 September boasted more than 100 customers (30 June 2014: 90) live, including recent additions of Chimichanga, Chef & Brewer and Blacks.
Bob Willett, chairman, said: “This continued strong growth reflects our customers’ appreciation of the significant operational cost savings, enhanced consumer experiences and added opportunities to innovate ahead of their competitors that our offering provides.
“The increased number of customers using our platform meant Eagle Eye AIR redeemed more than 3.9 million vouchers in the first quarter of financial year 2015, compared to 1.2 million in the comparable period in the prior financial year.”
Since 1 July, Eagle Eye said it had launched a number of exciting new projects including a coupon app for One Stop, the Tesco-owned convenience store chain, and a loyalty app for Nicholson’s Pubs, which includes a digital stamp card for rewarding frequency of visits.
The cash position at the end of the Period was £1.8m, slightly ahead of management’s expectations.
