Sidetrade:
All-time record bookings in 2021 Q4
- Bookings up 23%
- 70% international, with 24% in North America
Strong annual growth in SaaS revenue, up 16%
LONDON, United Kingdom – 25 January
2022 | Sidetrade (Euronext Growth: ALBFR.PA), the
AI-powered Order-to-Cash (O2C) SaaS platform, announces a record
surge in bookings in the fourth quarter of 2021, plus annual growth
of 16% in SaaS revenue.
Olivier Novasque, CEO of Sidetrade commented
on the financial update:
“Sidetrade has just achieved the best sales
quarter in its history, and this is only the beginning. The deals
won internationally in the fourth quarter of 2021 – 70% of all
bookings - bode well for unprecedented growth in the booming
Order-to-Cash market. 2021; the first year of our Fusion100
strategic growth plan, has clearly been a turning point for
Sidetrade. We now know that our technology offering is two to three
years ahead of our main North American competitors. We have been
building up our local teams, and our early successes in North
America are proving that we are already ahead of the game. Never in
our history have we been so sure of exactly where we stand, and so
confident about where we are headed.”
Record in 2021 Q4 as bookings surge by 23% on ACV
In the fourth quarter of 2021, Sidetrade set a
new record for SaaS bookings, which will generate an
additional €1.67m in Annual Recurring Revenue ("ARR"),
compared to €1.54m in Q4 2020. The previous record was €1.57m of
ARR, set in 2020 Q2. The total value of these new subscription
contracts over their initial contract periods (excluding renewals)
represents €4.15 million of Total Contract Value
("TCV").
To these SaaS orders should be added €1.38
million of services on an annual basis (implementation,
configuration, training, recurring services, etc.), compared with
€0.98 million in Q4 2020.
The annual contract value (ACV) of these
bookings is €3.05m in 2021 Q4 vs. €2.52m in 2020 Q4, a
23% increase.
Very strong international momentum: 70% of bookings intake in
2021 Q4
International expansion achieved in 2021
Q4The fourth quarter of 2021 saw success after success in
international sales, representing 70% of all
bookings. Sidetrade is scaling up, proving once again that its
offer is particularly well-suited to all B2B organizations
operating on a global level.
North America already accounts for 24%:
€0.41m ARR of the total value of new contracts in 2021 Q4, with
substantial worldwide wins, such as Micro Focus carried out
in collaboration with the European sales teams;
Air Liquide in the U.S. (for E-invoicing), and
Linde in Canada. This shows that Sidetrade’s North
American recruitment policy is clearly paying off. The company
has been able to attract top talent locally and build a salesforce
with solid experience in the field of Order-to-Cash. Today, there
are a dozen sales, and that number will most likely double in 2022,
given the excellent outlook for growth. The aim is for the U.S. to
generate over a third of Sidetrade’s worldwide orders by the second
half of 2022.
Sidetrade has also performed very well
elsewhere in the world, totaling 46% of sales outside of France
(€0.77m ARR) in 2021 Q4, with the signature of almost all of
Edenred worldwide entities, further expansion of
Veolia in Italy, Saverglass in Australia, as well as
Finning and Tyréns in the UK.Overall,
international business represented 70% of total bookings
intake at the end of 2021 Q4.
In France, business remained strong in
the period, accounting for 30% of new bookings (€0.50m of
ARR), thanks in part to new deals, such as with the Socotec,
and with Société Martiniquaise des Eaux
(SME), as well as upsell to key accounts including VISEO
(for e-invoicing), NGE, STEF and Saint Gobain
Adfors.
Solid and balanced bookings intake in
2021New subscription contracts in 2021 amounted to
€4.75m of ARR against €4.16m in 2020, an increase of 14%. In
addition, €3.53m of services were sold (vs; €2,87m in 2020).
In total, 2021 bookings reached €8.28m in ACV vs. €7.03m in
2020, an 18% increase.
The mix of new business (42%),
cross-sell (30%), and upsell (28%) remains
well-balanced, indicative of a high-quality customer portfolio.
Moreover, the initial contract period for new customers remains
stable at 36.25 months (excluding renewals).
In terms of business development, sector
diversification is also under control with ICT and B2B Services
accounting for 40% of total annual booking intake, followed by
Utilities & Environment and Construction (30%), and
Manufacturing, Transport & Logistics (28%).
Strong annual growth in SaaS revenue, up 16%
Sidetrade(million euros) |
2021 |
2020 |
Variation |
SaaS revenue |
27.0 |
23.2 |
+16% |
Revenue |
32.6 |
29.2 |
+12% |
2021 information is from consolidated, unaudited data.
Throughout 2021, SaaS subscription revenue
continued to grow significantly at +16%, reaching €27m.
Sidetrade’s SaaS recurring revenue model has
once again proven its resilience. For the first time, Sidetrade
has achieved 90% recurring revenue for the entire year, one
of the highest ratios in the software industry.
This strong progression was supported by solid
growth in international markets, which now represent 46% of
total revenue, including 15% for North America.
Regarding annual revenue, Sidetrade generated
€32.6m in 2021, up 12% against the previous year.
Sidetrade looks ahead to the 2022 business
year with confidence and a clear vision. Sidetrade has high
expectations, and the means to achieve its ambitions.
Next
communication2021 Annual Results, 26 April 2022, after stock
market closes
Investor
relationsChristelle Dhrif
+33 (0)6 10 46 72
00
cdhrif@sidetrade.com
Media
relationsRebecca
Parlby
+44 7824
505 584
bparlby@sidetrade.com
About Sidetrade
(www.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, up-sell/cross-sell, and cash collection. Aimie is a real
gamechanger 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 of
all sizes 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 case of any
discrepancy between the French and English versions of this press
release, the French version shall prevail.
- Sidetrade: All-time record bookings in 2021 Q4•Bookings up
23%
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