Sidetarde

20% increase in revenue for Q1 2024, with SaaS subscriptions up 20% - Seite 2

In Q1 2024, Sidetrade posted an outstanding performance, more than doubling its bookings. Over the period, the Group added €3.98 million in New Annual Contract Value (ACV) versus €1.83 million in Q1 2023, representing an increase of 117%. First-quarter bookings came in close to the Company’s all-time quarterly record - achieved in Q2 2023 - with €4.1 million in ACV.

For the third consecutive quarter, the United States acted as a key growth driver, accounting for 60% of total bookings. In the first quarter of 2024, Sidetrade notably secured two major contracts in North America. The first of these was signed with a globally recognized player in hygiene, food safety and public healthcare, with revenue of $15 billion and a listing on the New York Stock Exchange (NYSE). This new customer will run wide-scale implementation of Sidetrade's e-invoicing solution, directly integrating its invoices in the information systems of their main customers in the United States. A key factor in this decision was the ability of Sidetrade's solution to process work orders and complex invoices within digital portals utilized by major buyers. This contract represents the most significant transaction for Sidetrade's e-invoicing solution, as a result of the Amalto acquisition (see press release of April 12, 2021). The second major contract was agreed with the largest professional equipment rental provider the world over, posting revenue of $14 billion and listed on the NYSE. After being the main customer for a competing vendor, this giant chose Sidetrade because of its technological edge in AI, in addition to the excellence of its teams.

New SaaS bookings (New ARR) totaled €1.85 million, up 108% from the same period in the 2023 fiscal year. In Q1 2024, Total Contract Value (TCV) increased to €6.49 million compared to €2.78 million in the same period, in the 2023 fiscal year, representing a surge of 134%. Parallel to this, services bookings, with almost all invoiced within twelve months of their signing, totaled €2.13 million, up 127% versus Q1 2023 (€0.94 million). This strong increase is mainly due to the growing number of deployment projects signed worldwide, as illustrated by the two new above mentioned American customers.