Money Money Money: firm behind ABBA Voyage revenue soars thanks to new tech
Oxford Metrics, the firm and technology behind London’s hit ABBA Voyage show, has posted record revenue for its full year, largely thanks to its advanced motion capture system, Valkyrie.
In preliminary results, Oxford Metrics posted revenue of £44.2m, up 53.5 per cent from revenue of £28.8m in 2022.
New chief executive Imogen Moorhouse, said: “This result builds on from our strongest-ever first half as Vicon executed against orders and continued demand for our smart sensing technology continued, driven by positive uptake of our new system, Valkyrie.”
Valkyrie, launched in July 2022, can be used on stages, in video games and for high-speed analysis in sport.
The company is aiming to grow revenue by two and a half times by 2026, which it is on track to do.
But its order book fell over 52 per cent from £24m to £11.5m over the past year, which it said reflects “the more normalised buying cycles following the global supply chain challenges now largely abated”.
Shares dropped 0.9 per cent on Tuesday morning when the markets opened.
Last month, Oxford Metrics announced it was acquiring AI software company Industrial Vision Systems (IVS) for £8.1m.
As the company continues pursuing M&A opportunities next year, Moorhouse told City PM that the company will continue to look at adjacent markets to that of IVS, as they are “very interesting and frankly enormous.”