The provider of cloud-based e-commerce marketplaces, cloudBuy PLC (LON:CBUY), halved its losses in 2017.
The directors said the loss before interest, tax, depreciation and amortisation (LBITDA) last year was around half the level of the year before.
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While revenue is expected to be below market expectations, cost reduction measures mean LBITDA will be broadly in line with market forecasts.
Year-end cash is expected to be around £2.5mln following the cash injection of £1.7mln from Roberto Sella in December.
"Whilst 2017 was another difficult year for the company, we have continued to execute our strategy of focus and simplification to half our EBITDA loss whilst dedicating the major resource required to deliver the PHBChoices contract with our customer NHS Shared Business Services," said Ronald Duncan, the executive chairman and chief information officer of cloudBuy.