IFS reports sharp increase in ARR + 33% YoY supporting a shift in the revenue mix with 71% of Total Revenues YTD now being Recurring
· ARR uplift driven by a rapid increase in the share of Cloud[*] (68% of ACV) and Subscription (78% of ACV) YTD. · Software Revenues YTD representing 76% of Total RevenuesLondon, UK, July 26, 2022 – IFS , the global cloud enterprise software company, today reported its financial results for H1 as of June 30, 2022, with its share of Recurring Revenue reaching 71 percent of Total Revenues and Software Revenues reaching 76 percent of Total Revenues.
Growth in H1 2022 came from winning net new customers as well as from the IFS install base who continue to upgrade to