DocuWare reaps benefits of Cloud strategy
April 16, 2018
DocuWare, a provider of cloud content services, has announced positive full-year fiscal 2017 financial results for the period ending 31 December 2017.
“In 2017, DocuWare experienced accelerated growth and increased profitability across its entire business,” said company Co-President Juergen Biffar. “Our total revenues of €44 million ($54.4 million) were up 18 percent from 2016, 20 percent after adjusting for foreign currency effects. Overall, our Cloud revenues grew nearly 140 percent, while our traditional new and add-on premise license sales increased 17 percent. We attribute this breakthrough year to our relentless customer-centric focus, highlighted by our product’s ease of use, and excellent execution from our large and growing partner base that continues to benefit from our structured sales and enablement programs.”
Other fiscal 2017 financial highlights include:
- Total cloud revenue of €4.1 million ($5 million), up 139 percent, and total cloud bookings of €6.5 million ($8 million), the majority of which will be recognized in 2018 and beyond.
- Added nearly 1,800 new customers, up 44 percent
- Consistent with our strategy to become a “cloud-first” company, 45 percent of new customers selected cloud, up from 29 percent in the previous year.
- Total order achievement (defined as license orders and first year maintenance plus the total contract value of cloud orders) was up 35 percent.
- Total deferred revenue of €19.2 million ($23.7 million), up 22 percent from year-end 2016.
- EBITDA margin of 12 percent, or €5.4 million ($6.6 million), while generating €9.7 million ($12 million) of additional cash.
- Cash flow from operations of €10.8 million ($13.3 million), driving an increase in the company’s cash position to almost €30 million ($37.1 million).
- A 96 percent cloud renewal rate in 2017
DocuWare explains that its Cloud “delivers the full functionality of an on-premises system and is used by companies of all sizes and industries worldwide.”
Biffar continued, “DocuWare offers the right range of features at an attractive price with minimal implementation effort. The compelling economies of scale of the Azure hosting platform and relatively low operating and support costs of the cloud give us a strong competitive advantage as we continue our transition into a cloud-first company. We want to express our thanks to all employees and business partners for their continued support of DocuWare and look forward to continued market momentum in 2018.”
Categories : City News
Tags : Cloud DocuWare Financials Growth
