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Sidetrade: 2025 H1 revenue, up 19% at constant exchange rates
Globenewswire· 2025-07-16 15:43
Core Insights - Sidetrade reported strong revenue growth of 19% at constant exchange rates for H1 2025, driven by a 25% increase in SaaS subscription revenue [1][4][16] - The company experienced a 21% decline in new Annual Contract Value (ACV) compared to the record high in H1 2024, but bookings remained stable compared to H1 2023 [2][5][8] - The launch of the autonomous AI Cash Collection Agent and a global partnership with a leading Order-to-Cash services firm are expected to drive future growth [3][12][14] Revenue Performance - Total revenue for H1 2025 reached €29.3 million, an 18% increase on a reported basis [16] - SaaS subscription revenue rose to €25.4 million, reflecting a 25% increase at constant exchange rates [17] - Service revenue totaled €3.9 million, down 8% compared to H1 2024, attributed to fewer large-scale projects [19] Booking Trends - New Annual Recurring Revenue (New ARR) was €2.44 million, down 38% from H1 2024, with a notable rebound in Q2 2025 [6] - Service bookings remained stable at €3.44 million in H1 2025, reflecting strong expansion projects within the existing client base [7] - Only 30% of H1 2025 bookings came from New Business, with Cross-sell and UpSell deals accounting for 70% of total bookings [11] Strategic Initiatives - The introduction of the autonomous AI Cash Collection Agent is anticipated to significantly boost commercial momentum starting in 2026 [13] - The global partnership signed in June is expected to enhance pipeline growth across North America, EMEA, and APAC [14] - Sidetrade's multi-product platform strategy is effectively capturing incremental growth from existing enterprise clients [11] Market Position - The average initial contract period for new clients remained high at 44.5 months, indicating strong client confidence [10] - SaaS subscriptions from enterprise clients generating over €2.5 billion in revenue surged 42%, highlighting Sidetrade's penetration in the high-end market segment [18] - Nearly 90% of Sidetrade's revenue is recurring, positioning the company for sustained growth [4]