Sunday, September 19, 2021

Ideagen returns to profit

Ideagen, the software solutions provider, is in a “position of strength” according to audited final results for the year ended 30 April 2021.

The Nottinghamshire-based business posted a pre-tax profit of £0.8m, in comparison to a loss of £0.1m in the year prior.

Total revenue, meanwhile, increased by 16% to £65.6m, in comparison to £56.6m last year.

The results follow the acquisitions of Qualsys, Huddle and Qualtrax for a combined consideration of £54m.

Ben Dorks, Chief Executive Officer of Ideagen, said: “I am very proud of our performance in the past year despite the pandemic, which reflects our strong position and is testament to our commitment to becoming a SaaS business.

“We continued expanding our geographic presence with more than 6,000 customers around the world, made three acquisitions, and achieved strong ARR growth across a range of vertical markets.

“We approach the FY22 from a position of strength and look forward to building on this momentum by continuing to invest in our people, our products, and our customers.

“We have a highly cash generative business and this, when combined with the successful fundraising earlier this year and the extension of our debt facilities, puts Ideagen in an excellent position to fund organic growth and pursue our strategy of acquiring businesses that extend our leadership in compliance software for regulated industries.

“Our team’s dedication and resilience as well as the continued execution of our growth strategy give me great confidence about the current year and beyond.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.