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The
FINEOS Corporation Holdings PLC(ASX: FCL) share price will be on watch tomorrow after the insurance software business released its FY21 half-year result. It also announced a new contract.
Why the FINEOS share price will be on the radar
The FINEOS share price will be in focus tomorrow after the company told investors its half-year revenue increased by 30.1% to €52.6 million. This was made up of 20.1% organic growth and 10% growth from acquisition.
Software revenue was €19.1 million. There was organic subscription recurring revenue growth of 35.1% year on year, or 51.5% growth including the contribution from a US acquisition called Limelight Health (LLH) which was acquired in August 2020. Initial license fee (ILF) revenue was down 16.8% to €1.5 million, reflecting a run off of the old pricing model revenue.
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