PRESS RELEASE
JANUARY 21, 2020
Revenue for 2020 fiscal year
- Decline in overall revenue for the period due to the health crisis
- Increase in SaaS revenue by +80% over the period
- Recurring revenue increase, both in amount and contribution to overall revenue
- Renewed growth in revenue from license sales in Q4 2020
ITESOFT (ISIN Code: FR0004026151, Mnemo code: ITE),European software developer specialising in solutions for automating and processing information flows, announces its sales revenue for the 2020 fiscal year.
Revenue | 2020 | 2019 | |
in M€, non-audited | |||
Software | 3.2 | 4.5 | |
− | SaaS | 1.8 | 1.0 |
− | Licenses | 1.4 | 3.5 |
Maintenance | 12.9 | 13.2 | |
Services | 4.7 | 5.9 | |
TOTAL | 20.8 | 23.6 | |
Including recurring revenue | 14.7 | 14.2 | |
Decline in overall revenue for the period due to the health crisis
As announced previously, the COVID crisis has impacted professional contact and exchanges. Over the course of 2020, ITESOFT booked a total of €20.8 million in turnover, down 11.9 % with respect to 2019.
Increase in SaaS revenue by +80% over the period
In the second half of 2020, SaaS sales continued their progression, with the company generating ARR of €2.9 million as of December 31, 2020, compared to €2.2 million in 2019. Though significant, the progression of SaaS sales did not fully offset the decline in license business for the year, resulting in an overall decrease in software sales.
As a reminder, ARR corresponds to the annual value of a contract for a full year after the implementation phase. ARR measured as of December 31 in a given year indicates a trend that enables
ITESOFT SA - 368,030 euros share capital - RCS Nîmes B 330 265 323 NAF code: 5829C - www.itesoft.com
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PRESS RELEASE
JANUARY 21, 2020
the prediction of annual SaaS revenue the following year.
In the second half of the year, Bastide Medical, Circet Esp, and Matuvie joined the many companies having chosen ITESOFT's SaaS offering for its attractive pricing and deployment simplicity, as well as the wealth of features provided by its invoice processing digitalisation solution.
Recurring revenue increase, both in amount and contribution to overall revenue
Recurring revenue comprised of SaaS sales and revenue from maintenance services rose again in 2020, progressing by +3.5% to reach €14.7 million. The increased contribution represents 71% of sales for the company in 2020, up from 60% in 2019.
Renewed growth in revenue from license sales in Q4 2020
Following two consecutive quarters marked by the COVID-19 crisis and related confinement measures, ITESOFT posted renewed growth in its license sales in the final quarter of 2020, confirming the progressive recovery of investment by decision-makers after several months taking a wait-and-see approach.
Next publication: 2020 fiscal year sales turnover on April 15, 2021, after stock market closure.
About ITESOFT - www.itesoft.fr
ITESOFT develops software solutions for business process digitalisation, with particular specialisation in customer experience, operational excellence and supplier relations.
Leveraging development on artificial intelligence and robotics technologies from the very beginning, ITESOFT process automation and digitalisation solutions for business processes are designed to provide maximum efficiency, speed, and security for supplier invoice processing, online contracting, credit approval, claims management, service requests and more. The ITESOFT software offering is the only solution on the market that brings together the three key components for organizational performance: information capture, process automation and risk detection.
Founded in 1984, ITESOFT is a member of TECH IN France, eFutura, DFCG, FNFE, OMG and Valconum. The company has been listed on the Euronext Paris stock exchange (compartment C) since February 2001. ITESOFT generated €20.8 million in consolidated turnover in 2020, 17% of which was reinvested in R&D. Over 650 customers in 35 countries optimise their processes with ITESOFT solutions.
CONTACTS
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76-78 rue Saint Lazare, 75009 Paris, France Tel: +33 (0)1 56 88 11 11
Alexandre Commerot, acommerot@actifin.frPress relations: Isabelle Dray, idray@actifin.fr
ITESOFT SA - 368,030 euros share capital - RCS Nîmes B 330 265 323 NAF code: 5829C - www.itesoft.com
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Itesoft SA published this content on 25 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2021 16:29:08 UTC