What LoopUp does
In a nutshell, the company’s core software-as-a-service (SaaS) product aims to make remote conferencing a whole lot simpler, and more productive.
It uses traditional telephony supplied by tier-one operators across four centres globally, but dialling into a call with an access code isn’t the preferred method for joining LoopUp meetings.
Instead, users simply click a web link and LoopUp will then call them on the phone of their choice.
Participants in the call are then displayed onscreen so people are able to know who is currently on the call and who is talking.
Users can even share biographical details via LinkedIn as well as documents and presentations via their desktops
LoopUp works with more than 20 of the world's top-100 law firms and over 20 of the world's top-100 private equity firms.
How it's doing
LoopUp reported trading had continued to be strong and it now expects to beat the forecasts it only raised in May.
In a trading update then, the AIM-listed group noted a material increase in business volumes, driven by the large-scale migration towards working from home associated with the COVID-19 outbreak.
The group said in teh June update it would beat prevailing market expectations in terms of revenue, EBITDA and cash generation for the 2020 financial year.
What the bosses say: Steve Flavell and Michael Hughes, co-CEOs
"The progression of key business metrics has led us to sharpen our focus on serving and further strengthening our position within the Professional Services market”.
- COVID-19 restrictions have driven a surge in usage of Loopup's service
- Market share continues to increase as more customers are added
- Remote conferencing set to become a feature of working life after COVID-19