Sidetrade: Revenue up in First Quarter of 2021
04 Mai 2021 - 5:36PM
Sidetrade: Revenue up in First Quarter of 2021
Bookings remain very strong14% increase
in SaaS recurring revenueAnother quarter of
double-digit growth, with income up 10%
LONDON, United Kingdom – 4 May 2021
| Sidetrade (Euronext Growth: ALBFR.PA), the
AI-powered Order-to-Cash platform, has released
its 2021 Q1 income figures.
Bookings remain very strong
In Q1 2021, Sidetrade saw a very sharp rise in
new bookings, representing additional Annual Recurring Revenue of
€0.94m vs €0.27m in Q12020 (period hit hard by the sudden halt in
the economy due to the first lockdown).
This sharp rise follows up on the record
bookings posted in the last three quarters of 2020.
New customers represent 74% of these bookings,
against an annual mean of 55% in 2020. In Q1 2021, Sidetrade signed
on prestigious firms in a range of industries, such as
Konica Minolta (IT equipment),
Antargaz (Energy), Tarkett
(Construction materials), MIQ
(Media-advertisement), Distrupol (Chemistry) and
Klépierre (Property).
The mean commitment period for these new
subscribers is 36.2 months, representing €2.46m in SaaS contracts
(vs. €0.83m in 2020), as well as €0.81m worth of new bookings for
professional services.
14% rise in SaaS recurring revenue, 10% rise in
income
Sidetrade(million euros) |
2021 Q1 |
2020 Q1 |
Variation |
Revenue |
7.5 |
6.8 |
+10% |
2021 information is from consolidated, unaudited
data.
SaaS subscriptions have maintained momentum
with 14% growth in Q1 2021Sidetrade posted revenue of
€7.5m in the period, up 10%. Beyond strong growth in SaaS
subscriptions, overall growth was slightly impacted by less
dynamism in services, due to delays in project implementation
stemming from the lockdown situation in some countries.
That Sidetrade is riding out the crisis so well can
be explained by the resilience of its SaaS business model- 89% of
Sidetrade’s income is Annual Recurring Revenue.
As a reminder, on 12 April 2021, Sidetrade
announced the definitive acquisition of Amalto, a Texas-based
leader in paperless Order-to-Cash operations. Amalto will be
consolidated into Sidetrade’s accounts as of 1 April 2021.
Next
communicationsAnnual Shareholder general meeting: 17 June
2021First-Half Year Revenue for 2021: 20 July 2021 (after stock
market closes)
Investor &
Media relationsChristelle Dhrif+33 6 10 46 72 00 /
cdhrif@sidetrade.com
UK Media
relationsAmanda Bunn+44 7595 768 277 /
amanda@luminouspr.com
About Sidetrade
(www.ww.sidetrade.com)Sidetrade
(Euronext Growth: ALBFR.PA) is a fast-growing international SaaS
company unlocking customer value. Sidetrade’s next-generation AI,
nicknamed Aimie, analyzes huge amounts of B2B customer payment
behavior data to intelligently automate the order-to-cash process.
Based on predictive analytics, Aimie delivers actionable
recommendations in real time to enhance retention,
upsell/cross-sell, and cash collection. Aimie is a real
game-changer in augmented intelligence- a system whereby
individuals and machines work together faster and smarter.
Sidetrade has a global reach, with 250 talented employees in Paris,
London, Birmingham, Dublin, Amsterdam, Houston, and Calgary, and
customers in 80 countries. Nearly 3,000 large and mid-size
businesses in an array of industries count on Sidetrade technology
to outperform the competition.
For further information,
visit us at www.sidetrade.com and follow us on Twitter
@Sidetrade.
In the event of any
discrepancy between the French and English versions of this press
release, only the French version is to be taken into account.
- Revenue up in First Quarter of 2021
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