Esker Q3 2018 Sales Activity Exceeds 16%
Cloud-Based Solutions Fuel Growth
MIDDLETON, Wis. — October 16, 2018
Growth in cloud-based activities
Esker Q3 2018 consolidated sales revenue amounted to 21 million euros, a 16% increase over Q3 2017, based on a constant exchange rate. For the first nine months of 2018, growth at constant exchange rates increased 17% (a 14% increase based on current rates due to the weak U.S. dollar against the euro in the first four months of 2018).
Esker’s activity continues to be driven by cloud-based activities. Revenue from SaaS-based automation solutions increased by 19% over the quarter, representing 87% of the company’s business. This performance reflects the increasingly quicker 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 several new contracts that will fuel the company’s growth for the quarters ahead. The cumulative value of the new contracts is up 59% compared to the first nine months of 2017.
Strengthened financial structure for future growth
As of September 30, 2018, company cash rests at 23.6 million euros. With 14.4 million euros in net cash (9.0 million euros as of September 30, 2017) and 140,000 treasury shares immediately available, Esker has the financial resources necessary to pursue its strategy focused mostly on organic growth.
Positive outlook for 2018
Esker confirms it expects to achieve a strong double-digit organic growth in 2018. Strong recurring revenue (79% of sales in first nine months of the year) offers excellent visibility. If the euro/U.S. dollar parity remains unchanged at current rates (1.16), Esker will benefit from a slightly positive effect on its published growth for the last months of 2018.
Esker is a worldwide leader in cloud-based document process automation software, helping financial and customer service departments digitally transform their order-to-cash (O2C) and purchase-to-pay (P2P) cycles. Used by more than 6,000 companies worldwide, Esker’s solutions incorporate technologies like artificial intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. 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.