Estimated reading time: 0 minutes, 46 seconds

IFS REVENUE JUMPS 29 PERCENT Featured

Roos DarrenIFS reported this week new customers drove its revenue for the first quarter ended March 31 up 29 percent from last year's corresponding period to $154 million. The Sweden-based software company said it had a “massive influx of new customers across the globe”.

IFS CEO Darren Roos said in a prepared statement said results “massively” outpaced the market. IFS translated overall revenue to dollars but did not translate the components in its official announcement. The announcement said that there was a 67-percent increase in license revenue. There must be a difference in terminology here as IFS also said, “more net-new IFS customers chose to deploy their IFS solutions in the cloud than ever before.”  In any event, License revenue was approximately $31.3 million. Maintenance revenue was about $47.5 million, up 17 percent over last year’s corresponding period while consulting revenue of roughly $54.3 million increased 25 percent over a year earlier. The company also said it had a 67-percent increase in EBITDA.

Read 866 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.