Eagle Eye Solutions Group, a Surrey-headquartered SaaS technology firm, has announced a year of profitable growth, with revenues reaching nearly £50 million. The company, which supports clients with real-time, omnichannel and personalised consumer marketing efforts, counts major retailers such as Asda, Tesco, Morrisons, Waitrose, John Lewis & Partners, JD Sports and Pret a Manger among its customers.

For the financial year ending 30 June 2024, Eagle Eye reported an 11% increase in revenue to £47.7 million. However, the company noted that growth was affected by the timing of contract wins, many of which occurred late in the year, and a decline in non-core SMS revenue. Despite this, Eagle Eye stated that it believes its true growth potential is “much higher.”

Cost management played a significant role in the firm’s performance. Profit after tax surged by 383% to £5.7 million, which the company attributed to improved operational performance and a tax credit related to previous losses, as profitability continues to grow.

Tim Mason, chief executive of Eagle Eye, said: “Eagle Eye’s reputation for delivering personalised marketing at scale, combined with the new opportunities presented by our entry into data science via EagleAI, provides a strong foundation for long-term growth.

“Our significant sales pipeline, which has doubled over the course of the year, includes some of the largest retailers in the world. The new initiatives to enhance win conversion rates have already started to bear fruit and position us well for continued success.

“The wins secured at the end of the Year and into FY25 provide a strong basis for on-going growth. With robust cash generation and a growing customer base globally, we are confident about the future.”