Esker Q1 2017 Sales Activity Exceeds 15%
Cloud-Based Solutions Power a Record First Quarter
A Record Quarter
Esker Q1 2017 sales revenue amounted to 18.7 million euros, a 15% increase over Q1 2016 (8% based on a constant exchange rate). These results include the sales revenue of recently acquired German company, e-integration GmbH. With 0.9 million euros in sales revenue, e-integration achieved 16% growth over the same period in 2017. This performance is slightly higher than expected and reinforces the relevance of the acquisition for Esker.
With or without e-integration GmbH’s contribution, Esker has once again experienced its most successful quarter in company history. The excellent performance of Esker’s cloud-based solutions largely offsets an unfavorable base effect on the more traditional and legacy products, which, as previously announced, was due to several large non-recurring deals recorded in the first half of 2016.
Total revenue related to Esker’s cloud-based solutions increased 31% in Q1 (21% based on a constant exchange rate), representing 84% of total company sales revenue. This growth is due to a high volume of customers that signed in 2016 and are now entering production, as well as the increased use of Esker’s solutions by existing customers.
Strengthened Financial Structure for Future Growth
As of March 31, 2017, company cash rests at 24.1 million euros (11.7 million euros net of financial debt). With 140,000 in treasury shares immediately available, Esker has the financial resources necessary to pursue its strategy of combining organic growth and acquisitions.
Positive Outlook for 2017
Esker confirms it expects to achieve double-digit organic growth in 2017. Factors such as recurring revenue (77% of sales in Q1) and a record number of new contracts signed (a cumulative value of more twice the signed contracts in Q1 2016), will fuel the company’s growth for 2017 and the years ahead.
Esker is a worldwide leader in cloud-based document process automation software. Esker solutions, including the acquisition of the TermSync accounts receivable solution in 2015, help organizations of all sizes to improve efficiencies, accuracy, visibility and costs associated with business processes. Esker provides on-demand and on-premises software to automate accounts payable, order processing, accounts receivable, purchasing and more. 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. In 2016, Esker generated 66 million euros in total sales revenue. For more information on Esker and its solutions, visit www.esker.com. Follow Esker on Twitter @EskerInc and join the conversation on the Esker blog at blog.esker.com.