CAST announces profitable growth after 4 years of investment
06 April 2021 - 10:22PM
With 6% growth after adjusting for currency fluctuations and €3.2M
in operating income, the 2020 financial year brought a return to
profit. Financial income was affected by exchange losses mainly
from the settlement of old unrealized losses on intragroup trade.
The tax expense for 2020 amounted to €0.7M.
The strong operating performance was the direct result of three
factors: the investments made in the last years in building a
network of go-to-market partners that integrate CAST technology
into their service offerings and the release of CAST Imaging
(“Google Maps for Software”), a very successful product that uses
CAST’s software-analysis and reverse-engineering technology; the
sharp growth of SaaS sales (€6.1M for the year, +72% yty); and the
decrease in operating costs due to the unusual context of the
pandemic.
The financial structure is solid, with €16M in available cash at
the end of March. The first quarter is off to a good start and the
Software Intelligence offered by CAST and its commercial partners
is very much in line with market needs. Microsoft Azure and AWS are
seeding the market by using CAST Highlight and CAST Imaging to
accelerate the migration of companies’ software systems to Cloud.
Major integrators, such as Accenture, IBM and Wipro are winning
large-scale application modernization deals for which CAST provides
the must-have detailed technical information on the internal
structures of the software systems to be migrated to Cloud. Last
but not least, management consulting firms assisting their clients
with digital transformation programs and evaluating pre/post
M&A technical and legal risks do so using CAST technology for
its unique precision and depth of analysis.
Despite the uncertain macroeconomic conditions, CAST’s
management team envisages profitable growth exceeding 10% in
2021.
Upcoming:Publication of Q1 2020
Revenue on May 3, 2021, after market closes
About CASTCAST (Euronext
Paris: CAS) is the pioneer and category leader in Software
Intelligence, providing insight into the structural condition of
software assets. CAST technology is renowned as the most accurate
“MRI for Software,” which delivers actionable insights into
software composition, architectures, database structures, critical
flaws, quality grades, cloud readiness levels and work effort
metrics. It is used globally by thousands of forward-looking
digital leaders to make objective decisions, accelerate
modernization and raise the security and resiliency of
mission-critical software.
Visit castsoftware.com.
For more information, please contact Stephanie
Watkins at s.watkins@castsoftware.com.