Sheffield’s Zoo Digital swung back into profit as it saw revenue grow by 33% during the pandemic.
The company, which provides cloud-based services to the global entertainment industry, has released results for the year ending March 31 which show that revenue grew to $39.5m (£28.6m).
That meant the company reported an operating profit of $1m (£720,000) following a $600,000 dollar loss a year earlier.
Zoo said its cloud software allowed it to provide an uninterrupted service to its customers through the pandemic, and it contined a push into key territories by growing its number of partner studios to 232.
Following the financial year, a placing raised £7.4m for the company to support growth and investment in R&D.
It said accelerating market trends had presented “an extraordinary opportunity for Zoo to seize market share and grow in an expanding market” with trading in the first quarter of the new year strong.
CEO Stuart Green said: “Zoo performed strongly during the year with revenues growing by a third to $39.5m and making good progress towards our ambitious goal of $100m of sales. Adjusted EBITDA more than doubled to $4.5 million.
“In a year when the world stayed at home and watched more TV, Zoo worked from home to deliver more content, to more audiences than ever before.
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“We support major Hollywood studios and streaming services to globalise their new and catalogue content in all languages. The industry in which we operate is huge and is undergoing a structural shift which has markedly accelerated over the past 12 months. Zoo is positioned well to continue to benefit from the unrelenting rise in streaming video.
“Looking forward, we continue to win new business as production of new titles is now resuming and significant orders for catalogue projects continue. Our new financial year has begun well, maintaining the momentum achieved last year, and we remain confident of continuing growth and achieving market expectations.”