Sidetrade: Revenue up in Second Quarter of 2021
Strong bookings momentum
Promising US market kick-off
19% increase in SaaS recurring revenue
Income up 14%
Strong bookings momentum
In Q2 2021, Sidetrade saw a jump in
bookings representing an additional €1.2m in annual
recurring revenue (ARR) vs €0.94m in Q1 2021. On top of this, it
earned €1.05m from set-up and training services for new customers.
Overall, Sidetrade gained the equivalent of €2.25m in
annual contract value (ACV).
In Q2 2021, Sidetrade onboarded several new
global customers due to its capacity to roll out solutions
internationally such as XPO Logistics, Tarkett, Sodexo, and
Veolia. In fact, Sidetrade is particularly
well-positioned, both technologically and geographically, and has
recently been selected by Veolia Group and its subsidiaries, as its
exclusive global supplier for digital dunning and payment dispute
resolution.
Promising US market kick-off
In other news, Sidetrade’s North America
operations have had a strong start, representing over a third of
new bookings this quarter. Sidetrade has gained a firm
foothold in the North American market, through cross‑selling,
bringing on new customers Tarkett US and
XPO Logistics US (subsidiaries of
European groups who are successful Sidetrade customers), or via
upselling to existing customers, such as Tech Data US,
Bunzl Canada, and Expedia.
Furthermore, the new Augmented
Invoice module, a paperless billing solution developed by
Texas-based firm Amalto, recently acquired by Sidetrade,
contributed to clinching deals this quarter with US industrial
leaders including ProMach (packaging
machinery), Imperative Chemical Partners
(specialty chemicals) and Johnston
Equipment (material handling equipment).
As of February 2021, Sidetrade has 22 employees
in North America (11 from Amalto), with a 9-person sales force
consisting of 2 managers, 1 pre-sales, and 6 reps, all seasoned O2C
experts. Under Sidetrade’s Fusion100 growth plan, this salesforce
is expected to double by the end of the financial year.
SaaS recurring revenue up 19%; overall income up
14%
Sidetrade(million euros) |
2021 Q2 |
2020 Q2 |
Variation |
SaaS revenue |
7.1 |
6.0 |
+19% |
Overall income |
8.6 |
7.5 |
+14% |
2021 information is from consolidated, unaudited data.
Q2 2021 saw strong growth, with SaaS
subscription business up 19% and overall income up
14%.
This sustained progress is now backed by
solid growth drivers outside Sidetrade’s home
market, which now represent 47% of total revenues,
including 16% for North America.
The April 2021 Acquisition of Amalto, a Texas
based leader in paperless B2B transaction solutions, has enriched
Sidetrade’s product offering, with Augmented Order
and Augmented Invoice modules. These modules
contributed to the success of Q2 2021, and are expected to
dramatically increase sales in the years to come, since
they enable companies to meet new requirements for
paperless B2B transactions coming into force in
Europe and the
USA.
Moreover, in June 2021, Sidetrade was
cited in a Gartner report on integrated Invoice-to-Cash
solutions, yet another sign of Sidetrade’s leadership
position in a global market estimated to be worth $10bn.
Given the strength of the first half of the
year, Sidetrade’s management confidently projects double-digit
growth for FY2021.
Next
communication2021 H1 Results: 21 September 2021 (after
stock market closes)
Investor
relationsChristelle Dhrif+33 6 10 46 72 00 /
cdhrif@sidetrade.com
Media
relations
Amanda Bunn+44 7595
768 277 / amanda@luminouspr.com
Becca Parlby+44 7824
505 584 /bparlby@sidetrade.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, in
complementary ways.
Sidetrade has a global
reach, with 250 talented employees based in Paris, London,
Birmingham, Dublin, Amsterdam, Houston, and Calgary, serving
clients in 80 countries. Over 2,700 businesses from large
multinationals to mid-size enterprises, in a range of industries,
count on Sidetrade technology to outperform the competition.
Amongst them: KPMG, Nespresso, Hearst, Expedia, Manpower, Veolia,
Inmarsat, and Bidfood,
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.
- Sidetrade, 19% increase in SaaS recurring revenue
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