CAST: CAST – Stable Q1 revenue – Confirmation of model change for annual subscriptions – 05/03/2022 at 19:50

Stable Q1 revenue

Confirmation of model change for annual subscriptions

* Current exchange rate

Paris, May 3, 2022 at 7 p.m.

First quarter revenue amounted to €8.8 million, almost stable compared to 2021, impacted by an unfavorable base effect, Q1 2021 having been marked by a major transaction with a major systems integrator representing alone at the time nearly 20% of Q1 2021 software revenue. In addition, more than 90% of new business in the quarter was handled in annual or short-term mode, in order to gradually increase the recurring share turnover, for a future acceleration of growth.

The dynamic trajectory of SaaS revenue continues to rise, up +53% compared to the first quarter of 2021. Services revenue grew by +11%.

It should be noted that recurring revenue from the past represents 39% of this first quarter (renewal of temporary licenses and SaaS subscriptions longer than 12 months, and subscriptions to updates of existing licenses).

Software sales (SaaS subscription orders and licenses) for the quarter represent €4.2 million, of which nearly €1 million are expected as additional recurring revenue, 60% coming from partners.

The United States of America represents 65% of the total, Europe 26% and Asia 9%.

The growth target of 15% over the year is confirmed. Within 5 years, CAST expects turnover to double, with more than 50% recurring and an operating margin of between 15 and 20%.

Next meeting :

Publication of annual results on July 26, 2022 after market close

CAST is the pioneer and market leader in Software Intelligence, providing insight into the structural state of software assets. CAST technology is recognized as the most accurate “MRI for software”, providing actionable insights into software composition, architectures, database structures, critical flaws, quality levels, cloud readiness and work effort metrics. CAST’s technology is used globally by thousands of forward-thinking digital leaders to make objective decisions, accelerate their systems modernization, and increase the security and resiliency of mission-critical software.

For more information: www.castsoftware.com

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