IFS reported software and net revenue. In the recent announcement, the company said first half cloud revenue was up 20 percent from last year’s corresponding period. It also said software revenue is now 82 percent of the total. Maybe this is a change reflecting the new CEO, Mark Moffat, who was hired in January. Among the limited details divulged, IFS said it has added 170 logos to its customer base.
IFS LIMITS FINANCIAL DETAIL Featured
IFS said its annual recurring revenue reached $927 million for the half ended June 30, up 24 percent year-over-year from the first half of 2023. But the privately held ERP vendor gave out no additional revenue details while in prior periods.
