Good afternoon. Welcome to the ActiveOps Plc final results investor presentation. Throughout this recorded presentation, investors will be in listen-only mode. Questions are encouraged. They can be submitted at any time using the Q&A tab situated on the right-hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question received during the meeting itself. The company can review all questions submitted today and publish responses where it is appropriate to do so. Before we begin, I would like to submit the following poll, and I would now like to hand you over to the Executive Chair, Richard Jeffery. Good afternoon to you.
Thanks, Alex, welcome everyone. Thanks for making the time to be here today. Over the next 45 minutes or so, Alex, Emma, and I will walk you through what's been a really quite strong year for ActiveOps, but also exciting times in terms of the times ahead. I've got a lot to talk about, so I'll crack straight on to the deck. I think in terms of the headlines, the great thing is for ActiveOps right now, the organic growth engine is really humming. We've got strong activity across all our regions, and I'll talk more about that.
The underlying strength of the business model in terms of annual advance, SaaS-based billing, huge revenue, sort of assurance as we go into every given year, continues to sort of deliver the fundamentals of the business. Then just to cap it as a word, post at year-end, but as an event that you may well have seen, we also completed, I think, what's a very exciting acquisition for the business as well. An awful lot of things, a lot of moving parts in there, but overall, a business which we think a number of our sort of strategic levers, which we've been working on for four or five years, are really starting to come together. In creating such a great platform for really is what happens from here on through.
In terms of just for those of you who perhaps have not come across the business, a little introduction to ActiveOps and what we do. We are a SaaS-based enterprise software platform, servicing the information needs and the requirements for control in large, complex operations, particularly banking, finance, organizations with a lot of people doing a lot of complex products in silos and teams. Which therefore implicitly needs an awful lot of orchestration for reasons of efficiency in a number of things. We sell three particular products. One's a desktop analytics program, which provides visibility of the use of actual applications and time at the desktop.
We have ControliQ, which is our core planning and control system, and we have CaseworkiQ, which is the application which increasingly in the world of automation, but the things that are less, getting more complicated, provides the control and visibility over work and capacity, over those exceptions and more complex events. Essentially what we're trying to do is make sure we're providing the visibility over all our customers, work and capacity. We're geographically well diversified. You can see at the top there, the regional split by revenue, by region. We operate in three pillars, Asia Pacific, EMEA and South Africa, and North America. There's a story to tell for each, but the headlines actually for each is that for their own different and some similar reasons, it's going very strongly.
Alongside the SaaS software, we provide services primarily around the installation and establishment of ActiveOps as a methodology inside companies for running their operations. That continues to be a profitable, a very significantly profitable bit of the business. As you say, in the donut there, it's a ref, you know, it varies by year a little bit, depending on what we're doing, but it can be sort of 20%-20% of the revenues or so. That model will continue, and there's more to tell you about that.
To try and bring that to life a little, there's this slide. This is just one of our customers for whom they, like any large enterprise, are wrestling with the process of evolution, transformation and change, regulatory requirements, customer expectations, potentially fantastic new tooling around AI, bringing automation and the potential for radical changes to the way they interact with their customers. That's a big beast. That's a lot of complexity. The role of ActiveOps in this has been to completely change the context and precision of data they have to make choices and to drive value from projects in flight and so on.
They have a myriad of products, as you expect, as a large financial institution, and in any one of those products, there's the requirements, there's the customers, there's the backlogs, and there's the people. You know, that's like sort of lots of juggling going on. ActiveOps is in the heart of that now, taking data and presenting it in the way that our uniquely sort of powerful methodology does for the customers, so that they make better choices. They know what's gonna happen. They can model more effectively, they can make better, you know, choices. In the middle of that picture, you can see a number of examples of how they are using the ActiveOps data, beyond just running their business well, to make choices. Where do we automate?
How do we drive value? What benefit are we getting from those other investments? I hope that sort of brings to life a little, the effect of having ActiveOps for this as an organization, where it makes such a difference if you, like, know what's going on, more than just running it things well, as we move to that strategic change. In that particular customer, as the graph on the top right shows, is the level of improvement in the ARR, the revenue we derive from that, because we're giving them such great value. In terms of the fundamental strengths of the business, sort of those don't go away. We have a. The world's not getting any less complex. The sort of issues I've described are pretty universal.
The volatility of various world events just makes the precision intelligence, the requirements to know what's going on ever more, you know, essential for some of these customers. Their ability to respond in an agile manner is so fundamental. What we have is a, is a growing market. The benefit for ActiveOps in recent times, and one of the reasons that we're very positive at the moment is people's sense of awareness of need is growing. You know, we don't necessarily always have to sort of show people the size of opportunity. They come in bound with problems, which we know we can solve.
We've had two very good significant sales of the nine low, nine big sales this year of new customers, and that's up from three the previous year as an indicator. One of the, you know, two of those were very much regulatory driven. Regulator in their different contexts required greater assurance over how things were being run, and ActiveOps provides the visibility and transparency, not only to run the business well, but to provide an external stakeholder, regulators, of their quality of their control. That translates into quicker sales cycles, which is just great. And our.
We'll have a stat later on. Emma will take you through it in terms of when you land those new deals, it's not so much the headline amount for you to start working, but once we're in an organization, people see the value, and we have that land and expand profile of a group. You know, typically when people have ActiveOps, they start using it, they want more, and it grows across the estate.
All those sort of underlying value and the brand at the bottom there, is such a sort of foundation of why this, you know, as a business, whether it's regional diversification, security of revenue, even the solutions we provide being in the back office of operations, which don't easily change, gives us great sort of fundamental confidence in the product and the proposition. Geographically, some pictures there. We wanted to give that sense of sort of that progress has been consistent. Australia has been a bedrock of the business for many years, but has had a cracking year with new customer acquisitions. ARR up by 18%, as you see there.
Canada, we're expanding and growing in lots of activities around the Canadian market. We have five of the six banks, the example I just gave you, for example, and that itself is a huge growth region. North America overall, back in the U.S., we've had some great wins in the U.S. market as well. Overall, the story is not so much of a particular point, it's more a number of elements in the elements of product, proposition, price, positioning, that are just coming together for ActiveOps right now.
We'll talk some more about investments we've made around sales, but even the sales expansion in terms of quota carriers, it's just if you like, the culmination of a number of elements that require that sales team to service the need. Which of course, the great thing is you can add more petrol to the tank to increase the rate of sales as we build that pipeline and that marketing demand. I think time for a change of voice. Emma, do you want to sort of pick up some of the story?
Perfect. Thank you very much, Richard. Firstly, from a total revenue perspective, this year we delivered a 15% year-on-year growth rate. That is underpinned by two things. Firstly, the new logo momentum that we've seen in FY25. In the previous year, we secured three new logos. In FY25, that increased to nine. We're really starting to see the uplift in professional services revenue coming through off the back of those implementations. From a professional services revenue perspective, we've seen an uplift in revenue to 23%. From a SaaS perspective, our existing customers and the new ones, continue to trust us in their transformation agenda, supporting our 14% SaaS revenue growth on a constant currency basis. From an adjusted EBITDA perspective, we've delivered GBP 2.5 million in the year.
In the previous year, that was GBP 2.4 million. This is something that we trailed last year. In FY25, we have gone through a change of our resourcing practice. We started the financial year with eight quota carriers, and we've ended the year with 14. We've also onboarded two more additional ones so far this financial year, and there's one or two extra heads to track again for the rest of this financial year. That's ultimately what has led to the adjusted EBITDA remaining broadly in line with the previous year. From a cash perspective, we've ended the financial year with just under GBP 21 million on hand in the bank at the end of the year. This was an absolute increase in cash of GBP 3 million, which is a 17% year-on-year uplift.
We do continue to deliver a healthy cash conversion at an EBITDA level of 200%. In the previous year, that was 175%, which is very much supported by the annual in advance billing cycle that we operate here within ActiveOps. From a gross margin perspective, we are reporting a consistent gross margin year-on-year at 84%. There is a slight mix in the margin between SaaS margins and T&I margins. The SaaS margin, we've seen a slight improvement from 87%-88%, which talks to some of the infrastructure changes that we've made during the year that's driving that margin higher. The T&I margins we've delivered at 58%, which is still a strong margin. From a T&I perspective, over the years, we would recognize from a margin point of view, anywhere between 50% and 60%.
From an operating cost point of view, we've seen a GBP 3 million increase year-over-year, which is very much talks around the investment we've done in sales. Just over half of that increase directly is driven from the increase in sales investment during the year. Profit before tax. Last year, we labeled our PBT as our amazing year for profit before tax. We're demonstrating here that it is sustainable. This is one of the things that was trailed last year, we're very happy to be able to report that we are sustainably generating an increase in profits year-over-year. In terms of the strength of our SaaS model, from an ARR perspective, we've delivered a 15% year-over-year increase on a constant currency basis. This is also supported by our net revenue retention rate.
We've consistently reported, around 110% on a constant currency basis for the last two years, and this year we're reporting 108%, which we are delighted with. In terms of progress within our product offering, so our CaseworkiQ ARR has grown by 38% this year. Also our ControliQ ARR growth overall is 11% year-on-year, which is supported by the uplift in Series from Series 3 to Series 4. On here, this is a similar slide to what we showed last year. Last year, we shared with you what we mean when we talk about land and expansion, land and expand.
Here what you can really see the benefit of the product innovation coming through from a revenue growth perspective, and you can really start to see the acceleration in the ARR. Here we've got two customers, so just on the left-hand side, what we're demonstrating here is the impact of the uplift to Series 3, which you can see in FY 2025, and then also what you can see in Series FY 2023 and FY 2024, is actually confidence from the customers to further expand within their current existing user base, as you can see expansion across a number of departments. On the right-hand side, we can see the U.K. Retailer bank, and what you can see here, again, is expansion within their current user base. As you can see, the growth and the acceleration in that ARR number.
From this perspective, there is far more to come. What we did at the start of this calendar year, is we released Series 4. Far, in terms of what we've done with Series 4, is we sold this to six customers. Three of those were existing and three of them were new logos. We are in the early stages to be able to release what the overall average increase in ARR is from Series 4. We hope to be able to report that later on this financial year. From a Series 3 perspective, last year we reported an average uplift in ARR at 23%. What we've been able to do is maintain and actually grow that slightly.
What we've seen at the moment is an uplift of 24% in ARR growth from users moving from two point five up to Series 3. In terms of the new logo wins from last year, as I mentioned, we secured nine new logos last year. What we're doing here is demonstrating to you the future value that we have from those wins that we've secured. Of the nine new logos last year, there's five here on the screen, and what we're demonstrating here is the amount of penetration that we have left yet to go within these customers. The total increase in ARR for the new logo wins last year was GBP 1.8 million.
Based on our estimates of the TAM within these existing customers, we believe we can grow that GBP 1.8 million -GBP 18 million just within the five, just within the nine new logos we secured last year. The opportunity to grow just within our existing continues to grow. Last year, we reported a TAM within our existing customer base of GBP 90 million. With the addition of the nine new logos from last year, and also the Enlighten acquisition, which we'll come on to talking about shortly, the TAM within our existing customer base has grown to GBP 130 million. Based on the exit ARR for FY25, of being just over GBP 28 million, we've got a huge opportunity ahead of us to farm our existing customer base. From a cash generation perspective, we as a business remain highly cash generative. From an EBITDA cash generation, we're reporting generation of 200%. In the previous year, it was 175%.
We ended the year with just under GBP 21 million worth of cash. We remain debt-free as a business. Earlier on this week, we announced the acquisition of Enlighten. Post the completion of that acquisition, we as a group, were still sat with GBP 60 million on the balance sheet at the end of June. It was highly achievable within our existing cash position that we have. At the end of the financial year, we've got a healthy, strong balance sheet. We still do today. A high level of our revenue is recurring, so 90% of our revenue comes from SaaS revenues, which gives us a high visibility into the revenues that are to come in that financial year. We've got multiple expansion opportunities.
The opportunity to move customers that are currently still on two point five up to Series 3, and then ultimately up to Series 4. We're sustainably profitable, so we're delivering strong PBT of GBP 1.3 million, as we exit FY25. And that's everything from me at the moment, Richard.
Thank you, Emma. Just diving then, into slight more detail about the Enlighten acquisition. A year and a half ago or so, ActiveOps, we had quite an important sort of review of how we, you know, in strategy terms, make sure we sort of continue to be relevant and important to our customer base and who, and to be targeted as customers. One of the things that we recognized is that our traditional audience, if you like, have been on the kind of supply side of a business, it's the delivery factories, it's the ops leaders, it's the people who own the PNL, but they very often were the sort of they were the beneficiaries of the transformation and change, and that sometimes put, it made it difficult for us to. We needed to address a broader audience.
ActiveOps' data, as you've heard already today, is so relevant to helping organizations at the enterprise level make better choices. What we really looked to do, and what we decided to do, is focus much more on the kind of transformation agenda. We're not losing our focus about what our software does, but we need to bring it to life and provide functionality to support the things about how do they plan and manage change? How does the HR side of the business articulate and develop the skills and the capabilities of the organizational sort of human resources, human capital, and similarly from a finance management perspective, how does our software help and give the finance community within an organization the control they're looking for over change?
Ultimately, what we end up with every stakeholder in this sort of C-suite level, has a real interest in having ActiveOps in place. And the way we sort of develop that, with the picture you see on the left there, with the our traditional focus around the Human Performance Optimization and the Management Process Optimization, which has traditionally been our heartland, but also looking to develop our visibility of a process in terms of what actually the work consists of, and venture in the world of the process mining, but also organizational structures, spans, layers, and so on, to provide help and Decision Intelligence around those issues. This time last year or so, we became aware and through our contact with Enlighten. Enlighten is a company that we've known for many years.
They're a competitor directly in Australia, and in many ways, they were, you know, in the most similar organization to ActiveOps. They have a transformation approach underpinned by a software tool, more consulting-led, but fundamentally a lot in common. They'd also got a very similar geographic footprint in Australia and the U.S. and some parts of the world, in India and the like. It was also territories we both understood. For their reasons, they'd come to the market, and essentially, we saw a really good opportunity because in the Enlighten product, as the graphic in there in the bottom left-hand corner bottom shows, is they actually had a more broader ops offering, which included many of those sorts of functionalities from an intellectual property perspective that we were looking to develop.
It was a really good fit in terms of things we'd already decided we wanted to do. In other ways, it was also really exciting because firstly, with us and them, we were together. There was no question in Australia, we were the two players in the game, and that gives us an opportunity to really own the Australian market. In the U.S., it was equally helpful because in a way that we hadn't actually directly competed, They have got, and now we do have, a number of really good quality major enterprise brands. The, you know, the challenge for ActiveOps and such a global footprint for a relatively small number of people is economy to scale and having to have presence in the company.
Suddenly with Enlighten, that's giving us a huge amount of opportunity to sort of leverage our existing capacity, give us a little bit more critical mass, and ultimately solve some of those problems more quickly. You know, we're buying at least, you know, two years worth of growth from the core business here at, and picked up a whole load of new, really quite quality customers. We're genuinely excited about really what this will bring. Our ability to capture some of that in terms of the operational gearing. It'll bring forward some of the, you know, at a macro level, the business.
We'll have a period of transition, but because of, if you like, the way that both the businesses are similar in some ways, and also the financial model we put in place with the buyout process being very much linked to delivery of renewals, you know, we've also engineered it to be very low risk in terms of the sort of the economics of the deal. Overall, we think this is a very, you know, great opportunity for us to sort of amplify the group and step forward. What's remaining, and this is the key point for me as a chair and message to the team, is the engine room, the ActiveOps business, is going so well, let's not do anything to destabilize that.
This is a way of amplifying, accelerating, not really, you know, I don't want to mess with the underlying elements. In many ways, it's the strength in the ActiveOps business that gives me a lot of confidence about our ability to take in the Enlighten business. As you'd expect with it, there's a kind of phasing to plan around how we will realize gains and ultimately sell more software through this channel as well, or through to the customer base as well. We're taking our time to learn and understand because there are, as ever, with these things, there's they have strong products and they have strong customers, and we need to make sure they're excited about the opportunity, not worried.
Equally, from the staff perspective, we need to understand strengths and then also opportunities for consolidation and savings, you know, in some of the usual places, but also some of the unusual places. How much services do we want to do, and so on through. The broad plan, as you see on the screen there, is to take our time in the next six months to do some obvious things, but fundamentally get our head around it and then start to really play through. As we exit our next, this financial year, I think a lot of those savings will be starting to play through, but we'll still see the full benefit in terms of the operational gearing of the business in the next financial year.
What that does is essentially not take us to strange new lands, but intrinsically improve the penetration and the opportunity within our existing territory, which is a good place to start. Again, risk is operational risk. Our own ability to be confident of our outcomes is fundamental. If you buy an ActiveOps share, what you've got is a hugely important offer around revenue assurance. You know, we don't go out there and have to find every piece of revenue next year, and we manage the variability very tightly, and we didn't want to do anything to fundamentally change the profile of that. What it does do, though, is give us more scale.
It gives us a larger top rate target operating model within those customers, and ultimately, it just gives us more potency to go after and scale the, you know, the fuller market opportunity. Again, really good fit, really good opportunity, but, you know, in a sense, expansion of what we know well rather than something completely different, which for me personally, I think represents a much better opportunity and lower risk. That takes me sort of more generally into the broader strategic outlook for the business. We are continuing to do what we do. In some ways, the strategy is boringly the same. We've created a product that is incredibly relevant to the challenges of the moment.
We've got a product development factory, which is churning out new capabilities in response to those challenges at an unprecedented rate. Our capability to exploit and deploy the potency of AI into solutions for customers, you know, takes my breath away. I mean, this year alone, we're converging the WorkiQ product onto the ControliQ code base, which will unlock huge value because now the visibility of the desktop data intrinsically in the ControliQ, it makes the deployment of WorkiQ to our existing ControliQ customers, a toggle switch rather than just a major new and separate infrastructure. It creates a depth to the data that means that Process Mining, Process Discovery, just falls out of what people are doing for their day jobs.
No need to deploy big, expensive, separate tools or bring in extra big consultancies to do those kind of diagnostic devices because it just comes as a byproduct of having ActiveOps. We will be continuing to sort of build out on that. Yes, more sales. We've got a sales capacity. We've got huge opportunity in South Africa, so we've already we're on the path of having a new VP of sales in South Africa. We've never had regional sales presence in South Africa. We supported it from U.K. before. Then also compounding the Canadian opportunity with more capacity there. It's about balancing the line.
We also need to make sure that the product, you know, along with the product, the product marketing and then the, the value, you know, bringing the brand and making people see it as the, as the, as the sort of being aware of it. We're working hard on our marketing and our product placement as well. Nothing in that is essentially new. What we've got to do, of course, is to successfully land the Enlighten as part of that story, not create something that just creates noise and chaos in the business. An awful lot of, of very, very exciting things, but effectively an acceleration and amplification of what we currently do and are doing well.
Just giving some feedback about Q1, the statement, it says, "In line with board expectations," which is code for it's going well. Certainly I think as we sit here today, we just finished our first quarter, Emma and I are feeling pretty positive in the sense of that momentum that If you look at the team last year in two halves, the first half was okay, but the second half was really, really strong to give us the results that you've seen. More importantly, the first quarter continues that trend. We've actually got five new logos now. There was three when we did the RNS. We've had a couple more drop most recently.
The underlying acquisition of new customers, again, you can see that trend continuing, but alongside that, you know, just trading activity in terms of people on the ground deploying and the expansion opportunities. We put an extra RNS out earlier because we felt along with the new logo messaging, we wanted to reassure and demonstrate that the expansion opportunities that we talked about earlier are really coming through in a lot of forms. All in all, as an outlook, we're definitely indicating confidence, let's say, in the current projections and the growth forecast and the like. A lot of the good stuff in there. Perhaps we can pause and start taking some of the questions on the list.
That's great, Richard. Emma, thank you very much indeed for your presentation. Ladies and gentlemen, please do continue to submit your questions using the Q&A tab situated on the top right corner of your screen. While the company take a few moments to review those questions submitted today, I would like to remind you that a recording of this presentation, along with a copy of the slides and the published Q&A, can be accessed via your investor dashboard. Richard, Emma, as you can see, we have received several questions throughout today's presentation. Richard, if I may now hand back to you and kindly ask you to read out the questions where appropriate to do so, and I'll pick up from you at the end. Thank you.
Thank you, Alex.
To save a change. Do you want me to pick up some, Richard, first?
Go on then, Emma. Give a change of voice. You go for it.
Perfect. Adam, I'll just pick up your points around the cash, GBP 23 million of cash. At the end of the financial year, we did register GBP 21 million of cash on hand. Following the acquisition that we did earlier on this week, I currently have GBP 15 million. In terms of the future-looking capital allocation, there are earn-out payments associated with the acquisition we've just done. Our immediate priority is around the funding of that. We intend to fund those earn-out payments ourselves, so that is our ultimate priority in the short term.
Where we are in a kind of trading sort of working capital perspective, probably, we, you know, we work to a pretty conservative level. We, you know, the trading activity of the business, the scale we are, I think for Emma's peace of mind and also the fact we're quite global, so we have to move capital around, the money around the world to the different payroll, working cash is kept at least at GBP 10 million. That gives you some sense of the funding requirements of the business. As Emma says, we're in a great place. Picking up, Paul, your points, though, about the sort of inflection point about operational gearing and ultimately cash to changing it more to EBIT.
I think, as ever, with the type of stock we are, we do have a real choice here because the business is intrinsically profitable. We could make it very profitable indeed, and the Enlighten acquisition and the sense we sort of convert that to the bottom line gives us even more power there. I think it actually is linked to the second question you, I think, so another question somebody asked, or no, it was Paul, yes, your question around the partnerships. In a sense, it's going to be a choice in the coming time about our opportunity to exploit the market and therefore invest further in sales and so on, and essentially the profitability.
At the moment, if you like, as a business model, the way ActiveOps is the management team are thinking in that sort of Rule of 40 dichotomy, the balance between growth and profit. We're still working towards a kind of 30% growth, 10% profitability model. I think the market's there and the, you know. I'm proud of us being a publicly listed U.K. market, you know, technology company. I think we have the capacity to be globally notable. To that extent, whilst I think maintaining our level of profitability and control over profit absolutely is critical, I also don't want to miss the opportunity to do something significant here.
This has the business, has the capacity, you know, in a period of time, to be GBP 100 million ARR over a period of time. Therefore, I think there's always going to be that balance. It does link to the second question about partnering. We can pour more petrol in the tank and ultimately direct sale, you know, direct increase our direct sales in some time to come. One of the important underlying initiatives we're currently kicking off is our approach to indirects. In, you know, within three years, I want to have a well-developed and at least clear model for indirect sales. We've already started this process, so some of you may have noticed we did a partnership with Rulesware in the U.S., and they're a specialist Pega workflow type integrator.
They picking up on ActiveOps because they see the opportunity to their existing customer base to have some new product to sell, which is preconfigured, that solves a particular issue in that kind of ecosystem around visibility of data and workflow management capacity. Now, using that, if we can provide point solutions that are relevant to a particular sort of ecosystem, like some of these big other software platforms our customers typically use, Pega, ServiceNow, Workday, then we can create a channel that has a product that they can sell well. As soon as it has to require a lot of effort and effort from ActiveOps, then you're just into the balanced, indirect and sort of, you know, co-supported sales, whereas what we really want to hit the touch paper will be that indirect channel.
The short answer is, we're maintaining that balance towards profit, balance towards growth, exploring the channels so that we can then create an organization truly capable of exploiting that full, you know, the wider target operating model. In terms of the next question, Craig asked: "Is the strategy to move Enlighten customers from their existing software product over to ControliQ, or is that too early to know?" There is no question we'll end up with a single platform. The question is timing, also there's, you know, it's being respectful for the journey. There are people who've got some Enlighten, you know, capabilities they value.
The onus is on us, as you sort of intimate, to take our time and think to really understand that, look at the feature set they actually do use. The Enlighten product is more like a workbench of lots of different tools, which you get all in when you buy their service. In reality, very few customers use everything. I don't think there's any customers doing that. Most customers have some or few things that they actually use. We need to get our head around that. Our production capacity and technology center replicate or indeed enhance that, I think is huge.
What now we're embarking on is, as you can imagine, a sort of get to know and indeed a get excited tour with the Enlighten customer base to and bring them on board and reassure them that this is the best group of ops excellence in intellectual property on the planet. We understand the challenges of managing complex operations, and more importantly, we're investing in solving the problems thereof, and that won't go away. In fact, if anything, it's only gonna go up through this thing. It's a really positive story we're taking out there. I'm looking for other messages. Is that all the questions? George, thanks for presentation. Can you give more color on the new minority interest?
This is ActiveOps also took a minority, small interest in a company called Contact Web. Contact Web is essentially a BPO, an outsourcer, and they take on excess work around specific requirements for large enterprises. They service a very similar customer base, and what we really liked about them was it provides a brilliant model office for us. ActiveOps is a development, but sometimes you need to be able to show customers, or you need to have a test environment. Contact Web is a tactical investment presenter to give us a real environment where we can do stuff. We also think they've got a great business model with some cutting-edge tools. As a business, I think they've got a lot of exciting opportunities.
Although it's a, you know, it is a very small sort of minority investment, we think they're relevant for us for a number of requirements. It is good. I mean, just to expand, because they deal with big customers that we also interact with, I'm able to use them to illustrate the power of ActiveOps across the supply chain between customers. You know, I think it's got a lot of potential, but, you know, the Enlighten and all that sort of stuff is far more relevant. Back to the point, this is an organic growth play. We want to do everything we possibly can to drive volume and performance out of ActiveOps.
That's great, Richard. If I may just jump back in there, and thank you for addressing all those questions from investors today. Of course, the company can have your questions submitted today, and we'll publish those responses on the Investor Meet Company platform. Richard, before I redirect investors to provide you with their feedback, which is particularly important to the company, could I please ask you for a few closing comments?
Things are coming together really well. I think one of the analysts said, "I love it when a plan comes together." You know, that's horribly simplistic. There are so many threads to that deliver performance, but the point is, those are things which are continuing today. I think, you know, as you've looked at the tone, I think there's a great opportunity ahead of us to really knock the ball out of the park.
Fantastic, Richard. Emma, thank you once again for updating investors today. Could I please ask investors now to close this session, as you will now be automatically redirected to provide your feedback and also so the team can better understand your views and expectations. This will only take a few moments to complete and I'm sure will be greatly valued by the company. On behalf of my friend team of ActiveOps plc, we'd like to thank you for attending today's presentation. Good afternoon to you.