Esker Q1 2016 Sales Activity Exceeds 20%
Cloud-Based Solutions Drive Record First Quarter
A Record Quarter
Esker Q1 2016 sales revenue totaled 16.3 million euros, a 20% increase over Q1 2015 (+16% based on a constant exchange rate and like-for-like [LFL] growth) — making it Esker’s most successful quarter in company history. The record results are largely attributed to the inclusion of sales of CalvaEDI, acquired May 1, 2015.
Growth Up 27% in Cloud-Based Solutions
Total revenue related to Esker’s cloud-based solutions increased 27% in Q1 2016, representing 74% of total company sales revenue over the year (75% for Q4). This growth is due to the significant number of customers who signed at the end of 2015 now entering production. Revenue on legacy products and license-based document process automation products remain consistent with their historical trend.
Positive Outlook for 2016
Due to factors such as recurring revenue (close to 80%), the sustained rate of business activity and the start of production on contracts signed at the beginning of 2016, Esker anticipates it will achieve 13-18% growth in 2016 associated with a further increase in operating profit.
Profitability & Strengthened Financial Structure
As of March 31, 2016, company cash rests at 17.8 million euros, versus 15.6 million euros the previous year. With 11.8 million euros in net cash and close to 180,000 in treasury shares, Esker has the financial independence necessary to pursue its strategy of combining organic growth and acquisitions.
About Esker
Esker is a worldwide leader in cloud-based document process automation software. Organizations of all sizes use its shared platform of solutions, offered on-demand or on-premises, to automate accounts payable, order processing, accounts receivable, purchasing and more. Esker’s solutions are compatible with all geographic, regulatory and technology environments, helping over 11,000 companies around the world in their efforts to Quit Paper™. Founded in 1985, Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France and U.S. headquarters in Madison, Wisconsin. Last year Esker generated 46.1 million euros in total sales revenue. For more information on Esker and its solutions, visit www.esker.com. Follow Esker on Twitter at twitter.com/eskerinc and join the conversation on the Esker blog at blog.esker.com.