Esker Q3 2016 Sales Activity
Madison, WI — October 19, 2016
Cloud-Based Solutions Grow by 21%
Esker Q3 2016 sales revenue totaled 15.5 million euros — a 10% increase over Q3 2015 based on a constant and current exchange rate. For the first nine months of 2016, sales revenue amounted to 48.5 million euros, up 13% (14.5% published).
Total revenue related to Esker’s cloud-based solutions increased 21% in Q3 2016, representing 78% of total company sales revenue. This growth is due to a high volume of customers that signed in early 2016 and are now entering production, as well as the launch of recently signed projects.
This quarter demonstrates the strength of the company’s business model with the decline of traditional activities (-11% revenue on license-based document process automation products and -26% on legacy products) only slightly affecting its strong overall performance, with over 10% growth this quarter.
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 recently signed, Esker anticipates it will achieve well over 10% growth in 2016 associated with a further increase in operating profit.
Profitability & Strengthened Financial Structure
As of September 30, 2016, company cash rests at 19.3 million euros. With 14 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. Esker solutions 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. Last year Esker generated 58.5 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.