Beeks Achieves Strong Revenue and Profit Gains During its 2018 Fiscal Year

(Beeks) published its financial and operational results for its fiscal year ended June 30, 2018. The firm, which is a cloud computing and connectivity provider for the financial market, saw solid year-on-year increases in its revenue and gross profit.
Beeks was founded in 2011. It is a . In other words, it provides a high speed, cloud-based trading network to institutional and retail investors. Currently, the firm provides services that enable automated trading in FX, futures, equities, fixed income and cryptocurrency financial products.

During the fiscal year ending June 30, 2018, Beeks achieved revenues of £5.58 million ($7.17 million). This is an increase of 41 per cent when compared to the previous financial year, when it recorded revenues of £3.97 million. According to the report, this uptick was largely due to organic growth.
Gross profit jumped by an impressive 90 per cent year-on-year, up from £1.57 million to reach £2.98 million. The firm’s gross profit margin was 53 per cent when compared to 39 per cent in the same time period last year.
For Beeks, its underlying EBITDA for the 12 months ended June 30, 2018, was £1.95 million. This is an increase of 258 per cent from 2017, which brought it an underlying EBITDA of £0.54 million.
Operational highlights for Beeks
During its most recent fiscal year, the firm had a number of operational highlights. This included the firm entering into , and .
Entering into the cryptocurrency market opened up a new scope of customers and partners for the firm such as crypto traders, brokers and exchanges, the report said. Overall, the number of institutional investors using Beeks’ platform grew from 156 on June 30, 2017, to 192 at the end of this fiscal year.  
In November last year, (IPO) onto the London AIM market. Through this, the company managed to raise £4.5m. The firm also expanded into Singapore and opened sales offices in Shanghai and London.
Looking to the future, Beeks believes it will continue to experience high levels of recurring revenue. In addition, the firm said it will continue to roll out more cloud hosting and have a in the near term.