Strong Recurring Revenue and Zero Churn Drive Growth
“The third quarter was stronger than expected. Customer churn was zero and the recurring revenue jumped 30 percent from the second quarter, while revenue increased 35 percent from third quarter last year.” Magnus Hultman, CEO Safeture comments.Conclusions • Annual Recurring Revenue (ARR) by the end of the third quarter was 22,5 MSEK, which represents a +45% year-on-year growth. • Core business revenue for the third quarter grows 35% to 5,6 MSEK of which 85% derives from recurring revenue. • Churn for Q3 back at 0%. • Loss after financials and minority share for the group