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INTACCT U.S. ARR UP 30 PERCENT Featured

 Annual recurring revenue for Intacct rose by 30 percent in the United States for the year ended September 30, Sage has reported.

U.S. Sage Intacct sales hit approximately $393.2 million over fiscal 2022. Total U.S. recurring revenue increased to slightly more than $1 billion, an increase of 16 percent over last year. North American revenue for fiscal 2023 rose to about $1.23 billion, up 15 percent over a year ago, up 14 percent organically. In the recent earnings webcast, CEO Steve Hare said growth was “well balanced between new and existing customers.” Hare said Sage plans to make Intacct available to more customers by extending its reach into new verticals and new geographies. Besides being sold in the United Kingdom, Canada and South Africa, Intacct has been introduced in France and a move into Germany is planned over the next few months. The CEO noted the cloud ERP product showed “particular strength in not-for-profit and constructions.” Besides reporting strong Intacct sales, executives also noted growth in Sage 200 (Sage 100 and Sage 300, in aggregate) and Sage 50, but gave no details. Total revenue of roughly $2.78 billion rose 12 percent from the prior year. Software subscription revenue grew by 17 percent, according to CFO Jonathan Howell.  The 2023 subscriptioon total translates to approximately $2.16 billion. In addition, the company is simplifying its reporting which had been a sometimes confusing matrix of total revenue and, recurring revenue and said that is driven by the fact 96 percent of revenue is recurring so the figures are converging.

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