Paris, 1er February 2021 at 6:45 p.m.
Sales growth of 19% in Q4 and 8% over the year
Very good prospects for 2022
| Turnover in M€ | 2021 | 2020 | Variation | % TCC* |
| T1 | 8.98 | 6.63 | +2.35 | +35.4% |
| T2 | 10.49 | 13.34 | -2.86 | -21.4% |
| T3 | 8.57 | 7.45 | +1.12 | +15.1% |
| T4 | 16.19 | 13.57 | +2.62 | +19.3% |
| Total | 44.24 | 41.00 | +3.24 | +7.9% |
* Current exchange rate
| Turnover in M€ | 2021 | 2020 | Variation | % TCC* |
| Licenses | 18.21 | 17.55 | +0.66 | +3.8% |
| maintenance | 11.30 | 11.14 | +0.16 | +1.5% |
| SaaS Subscriptions | 6.28 | 4.72 | +1.56 | +33.0% |
| Services and others | 8.45 | 7.59 | +0.86 | +11.3% |
| Total | 44.24 | 41.00 | +3.24 | +7.9% |
* Current exchange rate
The year 2021 ends with growth of 7.9% (+8.9% at constant exchange rates) thanks to a very dynamic 4th quarter, at +19.3%. The closing and audit work has not been completed, but the 2021 operating margin should be around 10%, up on 2020.
Software sales are up 34% in the fourth quarter and 13% over the year. They are not fully reflected in the 2021 turnover with in particular €4.3 M of CAST Highlight subscriptions to be recognized in 2022. This reflects the dynamic of the SaaS activity over the year which amounts to €8 M ( Subscriptions sold up +32% compared to 2020). In addition, sales made with partners again represent more than 50% of the total for the year. Finally, market penetration continues to accelerate with more than 200 new customers.
The total annual recurring revenue can be estimated at around €22 million by adding the recurring SaaS revenue (annual value of subscriptions sold in 2021 for at least 12 months), the recurring Licensing revenue (annual value of temporary software licenses of 1 year or more sold in 2021), and recurring maintenance revenue (software maintenance revenue expected for 2022, excluding maintenance associated with new transactions).
The financial structure is solid, with nearly €15 million in cash available at December 31, before collection of end-of-year invoicing, and debt limited to €5.1 million.
CAST’s Software Intelligence technology is now embedded in the commercial offers of the three cloud giants, AWS, Azure and Google, as well as in the cloud migration offers of many integrator partners. The cross approach of these partnerships with the direct sales force of CAST allows direct access to market much faster. Finally, the success of CAST Imaging (doubling of sales vs. 2020) and CAST Highlight is confirmed, which now represent nearly 2/3 of software sales.
The transformation plan set out five years ago (change of market access model and repositioning) has been successful. CAST is now focusing on the continued growth of recurring revenue, resulting in particular from a switch to annual subscription.
Strengthened by the operational dynamics, and in light of the very good strategic alignment with the major market trends for which Software Intelligence is a ‘must-have’ – migration to the cloud, m&a, software risks linked to the use of software ” open-source and remote work… CAST forecasts accelerated growth in 2022.
Next meeting :
Publication of annual results on April 12, 2022 after market close
CAST is the pioneer and market leader in Software Intelligence. Its software analysis, measurement and mapping technology – the product of an investment of more than 120 million euros – enables all players in the digital business to make informed decisions, manage their teams, prevent software risks, and deliver robust, reliable and secure applications. Hundreds of companies trust CAST to increase customer satisfaction and reduce costs, delays and risks. Founded in 1990, CAST is listed on Euronext and operates in North America, Europe, India and China.
For more information: www.castsoftware.com.
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