Cloud and network provider Exponential-e's financial results for year ending January 31st 2017 were ahead of forecast with revenues up 26% to almost £97.5m driven by an increase in demand for cloud network computing and managed services.
Exponential-e reported EBITDA of over £20m, up 45% with profit before tax up 48% to just over £9.9m.
CEO Lee Wade said: "The last year has been incredibly successful for the business, delivering record revenues. Customer acquisition has continued to rise fuelled by strong demand for our cloud-based offerings.
"Our model is built to deliver innovative, 'non-stop compute' solutions, that use best-of-breed technologies. These have proved popular with our customers over the last 12 months and have contributed to this revenue growth."
The last 12 months have seen Exponential-e develop a range of new products and services.
In July it launched an SD-WAN proposition which allows companies to centrally assign and manage application policies across multiple sites and scale bandwidth up or down as required.
In February it made a 10 Gigabit Internet service available, which is over 400 times faster than the Government's minimum definition of superfast broadband, available to businesses throughout the UK.
The company also expanded its operations outside London, moving its Manchester office to a new, bigger location and growing its headcount there to 20 people.
Earlier in April, it appointed Afshin Attari as its Director of Public Sector who is tasked with significantly growing the company's presence in the government computing space.
"Despite the ongoing market uncertainty we anticipate the next 12 months will continue to be positive," added Wade.
"Our determination to innovate and create products ahead of the market will endure and hold us in good stead. As further commitment to this part of our business, we have earmarked £2m to be used solely for research and development."