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  CAST company press release from 03/11/2021

  03/11/2021 - 11:40

CAST +15% in the third quarter - 2021 expected to be very profitable


Revenue in M€ 2021 2020 Variation % ATI*
Q1 8.98 6.63 +2.35 +35.4%
Q2 10.49 13.34 -2.86 -21.4%
Q3 8.57 7.45 +1.12 +15.1%
Total 28.05 27.43 +0.62 +2.3%

* At prevailing exchange rates

Paris, November 2, 2021

Good commercial momentum continued in the third quarter with revenues of 8.6 million euros, up 15% at current exchange rates compared to 2020. SaaS order intake of €1.6 million in the quarter, to be recognized as revenue in future subscription periods, should be added as a complement for a fair measurement of commercial performance.

In terms of partnerships, we note:

  • the conclusion of several transactions via IBM but also with Hitachi, Capgemini, DXC, CGI and HCL;
  • the renewal of the global contract for Ernst & Young's M&A - Tech Due Diligence practice; and two new contracts on the same subject with PwC North America and FTI Consulting.
  • CAST's inclusion in Amazon Web Services' global “ISV Accelerate” program, which is reserved for a limited number of software vendors and includes a financial incentive for AWS sales forces when CAST technology is used by AWS customers and partners to accelerate migrations to the AWS Cloud.

In terms of product strategy, we note the launch of a new version of a major CAST Highlight feature that automatically identifies the security and legal risks associated with the use of Open Source components (see https://finance.yahoo.com/news/cast-introduces-smarter-simpler-sca-143000880.html). SCA (Software Composition Analysis) is an extremely dynamic sub-market of Software Intelligence, notably accelerated by Joe Biden's recent Executive Order on Improving the Nation's Cybersecurity, which explicitly requires ensuring and certifying the integrity and provenance of Open Source components in all software products used by the US Government (Sec 4, "Enhancing Software Supply Chain Security").

CAST enters the last quarter with confidence to achieve a very profitable growth in 2021.The transformation of the portfolio during the fourth quarter and in particular the share of SaaS orders will determine the exact level of growth and profit under IFRS.

Finally, beyond 2021 CAST reaffirms its optimism for the future. After a few years marked by its transformation plan and then by Covid-19, CAST now has the necessary conditions to achieve the objective announced before the health crisis: growth of between 15 and 20% over 2022-2023.

Upcoming:

First half results on February 1, 2022, 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 www.castsoftware.com

ISIN: FR0000072894
Ticker symbol: CAS
Reuters: YAS.PA
Bloomberg: CAS.FP
CAST Headquarters
Corporate: +33 1 46 90 21 00
North America: +1 212-871-8330
Alexandre REROLLE
CFO
a.rerolle@castsoftware.com
AELIUM
Jérôme GACOIN
jgacoin@aelium.fr
01.75.77.54.65

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  Original Source: CAST