Blue Prism share price: 3 things to watch out for in its half-year results

Blue Prism will unveil its half-year results on Wednesday, with company expected to deliver a strong set of figures, building on its performance at the end of 2018 which saw the software provider double its revenues.

Analysts forecast strong FY19 growth

Last year, Blue Prism more than doubled its revenues to £55.2 million, up from £24.5 million in 2017, representing 125% increase in sales, providing a solid platform for future growth.

However, with the company investing for growth, it has seen its losses widen, with adjusted cash losses increasing from £8.3 million to £21.6 million in 2018.

In its upcoming half-year results on Wednesday, analysts are expecting Blue Prism to continue its current trajectory, with a recent consensus forecasting revenues of £40.6 million in its first six months of trading and £98.1 million for FY19.

Blue Prism’s global ambitions

Earlier this month, Blue Prism announced that it is opening a new office in Stockholm, Sweden, to support growing demand in the Nordics for it connected robotic process automation (RPA) platform.

The new office will cater to its growing list of clients that includes companies like Ericsson, Nordea Bank and Volvo, with all of them eager to leverage intelligent automation technology.

‘We already have a strong footprint in the Nordics and have seen more than 100 percent growth in these countries, with many customers embracing automation to drive meaningful digital transformations,’ EVP of Northern Europe for Blue Prism Robert Ekstrom said.

‘By committing and adding more local resources to this growing market, we're ensuring that both our partners and customers are successful. It is time we accelerate our market share in the Nordics.’

Blue Prism partners with CognitiveScale to grab larger share of IPA market

Blue Prism has extended its connected-RPA capabilities to include AI-powered chatbots, alongside workflow and data synchronisation solutions via a Software-as-a-Service (SaaS) model by partnering with CognitiveScale, Kore.ai and Shibumi.

‘Each month Blue Prism adds a few key technology partners that show us the art of the possible with our digital workforce,’ Linda Dotts, SVP Global Partner Strategy and Programs for Blue Prism said.

‘Our connected-RPA platform provides a bedrock foundation for enterprise customers looking to drive innovation through new intelligent automation capabilities. This latest group of technology partner affiliates highlights the depth and breadth of our rapidly evolving ecosystem.’