And the company is again starting to think about M&A, CEO Mike Reinhart said during this week’s earnings call. “Our goal is to continue to expand through organic and inorganic means,” Reinhart said, noting Quisitive is engaging with some serious targets. Revenue reached $12.7 million, compared to $5 million in last year’s corresponding period. Reinhart said the company is concentrating on improving operations consolidating back office functions, including consolidating CRM systems. CFO Michael Murphy noted organic growth was up 25 percent with Quisitive sitting on a healthy sales pipeline. Executives also noted it is benefiting from customers shifting to the cloud triggered by the COVID-19 pandemic.
Estimated reading time: 0 minutes, 43 seconds
MENLO BUY AIDS QUISITIVE RESULTS Featured
The purchase of reseller Menlo Technologies earlier this year helped Quisitive more than double its revenue for the third quarter ended September 30. Toronto, Ont.-based Quisitive also benefited from revenue from its LedgerPay line.