Business Weekly – Global gaming technology business Quixant is scaling up fast in the US and other global markets from its Cambridge UK headquarters as it pours record levels of cash into new product development. CEO Nick Jarmany said there was significant headroom for technology upgrades and the opportunity for major expansion in new territories on the back of a strong set of maiden AIM results for the year to December 31.
Quixant described 2013 as a transformational year for the business and its current order book is more than double the March 2013 level.
Jarmany predicts another strong year of growth after Quixant increased total customer numbers from 63 to 82 last year, quadrupled the number of customers contributing more than $1 million, expanded its product offering and ramped up headcount in the US.
The leading provider of specialised computing platforms for casino gaming machine applications saw revenue growth of 12 per cent to $24.2 million while pre-tax profit was up 20 per cent to $6m.
The company ended the year with cash of $7m, thanks largely to the $5.9m it raised through its AIM float.
Jarmany said Quixant continued to develop its underlying hardware and software technology. More than eight per cent of sales revenue and over 17 per cent of gross profit is invested in R & D and more than 40 per cent of staff are involved in R & D and product development.
He said that towards the end of 2013 Quixant triggered significant expansion of its US operations to reflect the importance of the market. It is the only computer platform manufacturer with its US headquarters in Las Vegas – one of the gambling capitals of the world.
