12/11/2023 A 26% year-over-year increase in ARR growth brings Nextway Software its best-ever result. This comes three years after Thomas Hougaard-Enevoldsen took the CEO seat and crafted the forward-looking Nextway ‘27 strategy.
With a declared vision of being the go-to partner for organizations in insurance and finance that depend on mission-critical enterprise document management, Nextway has achieved its best financial result yet.
ARR (Annual Recurring Revenue) is the primary measurement for any modern software company. Maintaining a steadily increasing double digit organic growth for a mature software company that serves Medium and Large Enterprises, is First Class.
Major new customers, solid expansions with existing customers, combined with continued low churn, yields a progressively growing ARR-base. A solid ARR base to fuel future success.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also showed a robust 52% increase, despite adjustments in income recognition from the growing SaaS (software-as-a-service) offering – Nextway.cloud.
EBT (Earnings Before Tax), grew with an impressive 100% percent over the year before, reaching €1,192K.
All leading to the best ever financial result recorded in the group’s 37 years long and successful history.
“We reached this milestone only because of our new focused strategy and the immense joint effort of 65 dedicated colleagues in 6 countries”– says Thomas Hougaard-Enevoldsen, CEO of Nextway.
Becoming a leader in Enterprise Document Management
With their Nextway’27 strategy, Nextway is paving the way to lead in eDMS solutions for companies where document, content, and process management are mission critical. Annual Recurring Revenue from their Next® Digital Workplace software grew significantly in all strategic geographies and industries:
+18% ARR over all
+22% ARR in Finance
+23% ARR in Insurance
– showcasing the impact of the Nextway’27 strategy.
“Last year's success is a combination of major new customers in both the Nordics and in DACH choosing us as their core eDMS partner, many existing customers expanding their usage of Next®, and very few customers leaving our platform – adds the CEO.
A strategic partnership with Salesforce, leading to Next® eDMS being certified to the Salesforce AppExchange has contributed significantly to last year’s success. A partnership both parties expect much more from in the years to come.
On top of this, Nextway has expanded its international team, welcoming more experts with solid industry knowledge from the industries in focus – Insurance and Finance.
Other industries also win
Historically, Nextway has catered to various industries beyond finance and insurance, and customers in these sectors continue to play a crucial role. In fact, the increased focus on Insurance and Finance positively influences other clients.
CEO Thomas Hougaard-Enevoldsen highlights, "We actively sought feedback from our customers in diverse sectors, and they appreciate our work with Insurance and Finance. For them, this means that reliability and security are by no means a concern."
“More and more companies within Insurance and Finance recognize the importance of reliable and efficient enterprise document management, as the foundation for their ever-changing IT landscapes.
Once you have a solid digital foundation in place, there is no limit to the efficiency gains you can achieve through automation and AI.
For organizations with millions of valuable documents and digital records, this is essential. My plan for Nextway Software is therefore to do even better. Significantly better!” – concludes the CEO.
About Nextway Software
Nextway makes companies more efficient and people’s lives at work easier. Replacing processes that involve paper, pdfs, spreadsheets, and emails, with their easy-to-use software, Next® Digital Workplace.
Since 1986, Nextway has served customers from all over the world through a network of certified partners and own offices throughout Europe.
+358 50 356 7076
Jørn M. Christensenjmc@nextway.software
+45 26 77 66 40
+49 177 6506222
+41 78 671 79 02