Sidetrade, the AI-powered Order-to-Cash (O2C) platform, once again announces double digit growth in Q3 2021, SaaS revenue up 16%.
Double-digit growth in SaaS recurring revenue, up 16%
|Q3 2021||Q3 2020||Variation (%)|
|SaaS revenue||6.8||5.9||+ 16%|
|Overall income||8.2||7.3||+ 13%|
2021 information is from consolidated, unaudited data.
Despite the third quarter traditionally being the weakest period of the year, we saw continued double-digit growth in Q3 2021 – a trend sustained from FY21 Q1 and Q2. In fact, overall income rose €8.2m in 2021 Q3, up 13% against 2020 Q3.
Bookings intake leaps 22%
Q3 saw a sharp rise in new bookings which are expected to generate €0.95m in annual recurring revenue (ARR) vs. €0.78m in 2020 Q3; a 22% increase. The total contract value (TCV) of these new subscriptions amounts to €2.42m for the firm contract period (not counting renewals).
Beyond SaaS orders, Sidetrade earned €0.63m via its services offerings (e.g., implementation, set-up, training) vs. €0.38m in 2020 Q3. All in all, total 2021 Q3 order intake represents an annual contract value (ACV) of €1.58m against €1.16m in 2020 Q3 (i.e., a 36% increase).
Nearly 60% of orders are international
With new deals penned in North America including Bunzl US, Trescal US (cross-sell), as well as Expedia and Kal Tire (upsell), new North American contracts represent 24% of the total this quarter, clearly sustaining the momentum developed earlier in the year.
Also notable was Sidetrade’s continued international expansion with prestigious groups such as Veolia (Veolia España and Veolia Water Technologies UK), as well as the Page Group with the roll-out of Sidetrade technology in Asia-Pacific. Overall, international SaaS orders represented 58% of the total this quarter, indicating Sidetrade’s enormous growth potential for the years to come.