MILANO (AIMnews.it) – Expert System revenues increased by 52% in the first half of 2018 compared to the same period of the previous year. The value rose from 8.4 million in the first half of 2017 to 12.9 million. The increase is related both to components deriving from the domestic market and to those coming from abroad, which accounts for 54% of total turnover, with an increase of 33% compared to last year. Important to this result is the contribution of: United States, United Kingdom, Switzerland and Spain. For total licenses there shows an increase in recurring (79%) against perpetuals (21%), compared to the figure on 30th June 2017 which saw recurring licenses equal to 33% and perpetual licenses to 67%. Margins were positive, with Ebitda at € 0.1 million, up by € 4.1 million compared to a year earlier. The return to profitability is due to the increase in efficiency in all the group’s functions and to the containment of internal and external costs. The net financial position amounted to 10.0 million euros (8.8 million on 31st December 2017). “The excellent results of the first half of 2018 confirm the uniqueness, effectiveness and usefulness of Cogito-based solutions, adopted by an ever-increasing number of customers in Europe and the United States for process automation and for every kind of need concerning information intelligence. – says Stefano Spaggiari, CEO of Expert System – The growth in revenues has been much higher than that of the reference market and the very strong improvement in margins demonstrates the great efficiency gained within all the functions of the group, positioning Expert System as a leader and reference for all companies wishing to start or continue their path of Artificial Intelligence to an ever-increasing number of processes and activities. The growth of the recurring licenses component against the perpetual licenses is another very significant element to underline. The recurring licenses, which reached 79% of the total against 21% of the perpetual licenses (on 30th June 2017 the recurring licenses amounted to 33% and the perpetual licenses to 67%) guarantee, in fact, customer loyalty and greater predictability of future revenues”. “The strong improvement in margins – added Spaggiari – allowed us to achieve a positive EBITDA already in the first part of the year against a negative result of 4 million in the same period of 2017. We are very optimistic about the results of the year to come and next year, thanks to the strengthening of our organisational structure and commercial offer, as well as the consolidation of partnerships with market-leading companies that will be able to guarantee a further diffusion of Cogito through an indirect channel. The awards obtained worldwide in the first half of the year confirm our leadership in technology and customer satisfaction. Expert System is in fact among the very few world leaders to be simultaneously among the 8 top vendors in Artificial Intelligence for Text Analytics (The Forrester Wave™: AI-based Text Analytics Platforms, Q2 2018) and in the top 13 for Insight Search ( Gartner Magic Quadrant for Insight Engines, 2018).”