2020 Second Quarter Revenue

2020 Second Quarter Revenue

Record €7.5m quarterly revenue despite the financial crisis
Strong 15% revenue growth
Record €6.1m bookings in Q2 2020

PARIS, France – 21 July 2020 | Sidetrade (Euronext Growth: ALBFR.PA), the
Artificial Intelligence platform dedicated to accelerating company revenue and
cashflow, reports a record-breaking second quarter, with remarkable growth in
revenue and orders despite the severity of the Covid crisis.

 

Olivier Novasque, CEO of Sidetrade, had this to say about Q2 2020 achievements:
Income and bookings achieved an unparalleled level this second quarter despite the overall state of
the economy. Even with all of our staff teleworking, we still achieved the best quarter of our history in
terms of sales, with €6.1m in new contracts signed. This performance is the fruit of years of work on
innovation, especially AI. Additionally, Sidetrade’s position perfectly meets the needs of today’s
businesses striving to boost and secure cashflow in an increasingly digital world. Current market
dynamics are actually strengthening our leadership position at home and abroad. I would once again
like to thank our teams for meeting the present challenges with creativity and dedication. I also want
to thank our customers for their continuing trust during difficult times.
Record €7.5m revenue growth demonstrates the resilience of the SaaS model
Sidetrade (million euros)

Revenue

 2020 Q2

7.5

 2019 Q2

6.6

 Variation

+15%
Following up on an excellent first quarter (+14%), Sidetrade kept-up the momentum, achieving 15% organic growth compared to Q2 2019 (€6.6m). Sidetrade’s Q2 2020 revenue was €7.5m, the highest in their history. Thanks to their SaaS business model, Sidetrade is weathering the crisis well. More than ever, the resilience of the company’s recurrent SaaS model allows them to stand strong. In fact, 89% of Sidetrade’s quarterly revenues are recurrent, one of the highest ratios in the software industry.
Record €6.1m bookings in Q2 2020
The Covid crisis has brought to light just how crucial it is to secure cashflow, which has been good for Sidetrade’s sales. In Q2 2020, Sidetrade demonstrated their capacity for adaptation and innovation by tracking the impact of the Covid pandemic on unpaid invoices. The freely accessible tracker showed changes in the payment behaviour of 3.7m businesses since the start of the year in the United Kingdom, France, Spain, Italy, Belgium and the
Netherlands.
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