Dan Houden (Plexure)
NZX-listed customer engagement software company Plexure has renewed its contract with cornerstone customer McDonald's for a further five years.
The company had restructuring its commercial terms with the fast-food giant in a new five-year deal, it said, while cost reductions and operational improvements had also returned the company to profitability.
Plexure’s digital customer engagement platform and data-driven capabilities supported 147 million customer interactions each day for McDonald’s.
Plexure’s technology powered digital loyalty, personalisation, ordering and payment via the McDonald’s mobile app for customers across 66 markets, including major markets such as Italy and Japan.
“We are excited about our continued partnership with McDonald’s and look forward to working collaboratively toward our mutual goal of delivering excellent experiences for McDonald’s customers through our world-leading customer engagement platform," Plexure Group CEO Dan Houden said.
The renegotiation completed the transformation of the Plexure business under the new management team following the merger of TASK and Plexure in September 2021.
The TASK division continued to deliver profitable growth through its enterprise solution to stadiums, casinos, multi-site QSR or casual dining and large-scale food services companies, Plexure told shareholders today.
“The renegotiated commercial terms with McDonald’s represent the culmination of a major transformation of the Plexure division underway since the merger with TASK," Houden said.
"The transformation immediately underpins group profitability and enables the business to focus on driving profitable growth by leveraging its combined technology stack to provide an end-to-end cloud engagement and transaction platform at scale for the global QSR and hospitality sector.”
Plexure expected total revenue for the year ending 31 March 2023 to be around $56 million, compared with $32.6 million reported in the previous financial year.
EBITDA, adjusted for non-cash employee share charges of $5.2 million, was expected to be a profit of $3.7 million for the year compared to an adjusted loss of $13.1 million in 2022.
