Solid first half performance. Strong SaaS growth.
10+% full-year profitable growth objective reaffirmed.
|Revenue in M €||2021||2020||Variation||% ATI*|
* At prevailing exchange rates
New York and Paris, July 28, 2021:
Pioneer and category leader in Software Intelligence, CAST delivered a robust performance over the half-year with numerous new references and a good geographical distribution of turnover. The second quarter was marked in particular by the signing of an important global agreement with Microsoft, which renews and expands the previous agreement, with the objective of joint penetration of 200 large accounts over the next twelve months, by identifying the strategic applications most suited to move to cloud, then accelerating and securing the technical transformations necessary for their migration to Azure.
For a fair appreciation of commercial performance, it is important to stress that:
- Sales at the end of June were up + 2.9% at constant exchange rates (unfavourable impact of the euro / dollar parity of - € 1.1 million).
- The base effect of the second quarter of 2020 is unfavourable, with the sale to Accenture of an industrialization software license in the amount of several million euros.
- € 2.2 million of billable SaaS subscriptions did not account to IFRS revenue for the period.
The transformation plan carried out in recent years therefore continues to bear fruit, with the main success factors being ratcheting up the OEM-based go-to-market strategy, strong increase in SaaS sales (30% of value of Software transactions vs being 20% in same period last year), and sustained focus on applying Software Intelligence as an enabler of faster digital transformation and migration to cloud, enhanced pre/post M&A technical due diligence, and taming the complexity of software systems supporting critical processes.
Beyond the turnover generated, sales via partners bode well for rapid expansion, and the improvement in operational efficiency is expected to result in positive operating income over the half-year.
The foundations for good execution are now firmly in place, perfectly aligned with major market trends, all in favour of a growing need for Software Intelligence.
CAST confirms its growth objective above 10%, profitable for the 2021 financial year.
First half audited results on 14 September 2021 after market close
CAST is the pioneer and category leader in Software Intelligence, providing insight into the structural condition of software assets. CAST technology is renowned as the most accurate “MRI for Software”, which delivers actionable insights into software composition, architectures, database structures, critical flaws, quality grades, cloud readiness levels and work effort metrics. It is used globally by thousands of forward-looking digital leaders to make objective decisions, accelerate modernization and raise the security and resiliency of mission critical software. Visit castsoftware.com.