Esker Q2 2018 Sales Activity
Esker achieves a new record quarter with sales exceeding 18%
MIDDLETON, Wis. — July 18, 2018 —
A record quarter
Esker Q2 2018 consolidated sales revenue amounted to 22 million euros, an 18% increase over Q2 2017, based on a constant exchange rate (16% based on current rates). The difference between constant currency growth and reported growth is mainly due to the significant improvement of the U.S. dollar against the euro.
For the first half of 2018, growth at constant exchange rates increased 17% (13% based on current rates). Esker has, once again, experienced its most successful quarter in company history, despite the negative currency impact.
Esker’s activity has been very dynamic and continues to be driven by cloud-based activities. Revenues from SaaS-based automation solutions increased by 21% over the quarter, representing 87% of the company’s business. This performance reflects the implementation of numerous contracts signed in previous quarters, as well as the development of Esker’s existing customers.
Record number of new contracts signed
Esker has signed a significant number of new contracts that will fuel the company’s growth for the quarters ahead. The cumulative value of the new contracts is up 54% compared to the first half of 2017.
Strengthened financial structure for future growth
As of June 30, 2018, company cash rests at 22 million euros after dividend payment. With 12 million euros in net cash and 140,000 treasury shares immediately available, Esker has the financial resources necessary to pursue its strategy of combining organic growth and acquisitions.
Positive outlook for 2018
Esker confirms it expects to achieve double-digit organic growth in 2018. Strong recurring revenue (78% of sales in first half of the year) offers excellent visibility. If the euro/dollar parity remains unchanged at current rates (1.17), Esker will benefit from a slightly positive effect on its published growth in the second half of 2018.
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 2017, Esker generated 76.1 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.