Nextway Software steams ahead

1/20/2025 With a year over year growth in excess of 20%, the fiscal year 23/24 was in line with the ambitious 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 content management, Nextway has set out on an ambitious growth journey.

Maintaining a consistent and profitable organic growth in ARR (Annual Recurring Revenue) above 20% for a mature software company that serves Medium and Large Enterprises is Best in Class.

Despite overperforming on every single parameter, Nextway recorded declining earnings in 23/24, simply due to the shift in principles of income recognition, when more and more of the business is SaaS (Software as a Service). EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for 23/24 was €1.215K and EBT (Earnings Before Tax) €377K.

“The transition to primarily provide our eCMS offering as “Software as a service” has an expected short-term effect on our reported financial results due to different income recognition principles. We have overperformed on all growth targets and expectations for the financial year 23/24”  – says Thomas Hougaard-Enevoldsen, CEO of Nextway.

Executing on the strategy

In the financial year 23/24 Nextway continued to execute the Nextway’27 strategy. This resulted in substantial agreements with significant new clients within the Insurance and Finance industries.

“Alm. Brand Group – the second biggest insurer in Denmark - chose Nextway as the sole partner for enterprise document management. We are of course humble to be trusted by Alm. Brand with all their mission critical documents, and proud that our SaaS offering – Nextway.Cloud – was approved by the authorities for critical outsourcing” – says Thomas Hougaard-Enevoldsen, CEO of Nextway.

Nextway achieved its growth in 23/24 with numerous new customers, in the Nordics and the DACH region, who all chose Nextway as their core eCMS partner, at the same time as many existing customers expanded their use of their Nextway solution. And with a clear majority of customers opting for Software as a Service – Nextway.Cloud.

New ownership

Right after closing 23/24, Main Capital Partners – a specialist B2B software investor out of the Netherlands – became the new majority owner of Nextway. This marked an important step in the plan to ensure the future success Nextway and serves to further boost the already ambitious Nextway’27 strategy.

“For us in the management team, this is a dream come true. We have appreciated the time of being founder-owned, but we have also identified that to secure a future with continued growth, a succession was needed“ – says Thomas Hougaard-Enevoldsen, CEO at Nextway Software

Further growth ahead

With the Nextway’27 strategy and Main Capital as new majority owner, Nextway is well on the way to becoming a leading European supplier of mission-critical Enterprise Content Management. The plan is to grow organically and make several strategic acquisitions throughout Europe in the years to come.

“We are excited about the partnership with Nextway and committed to supporting their journey ahead. Nextway’s strong organic growth and strategic vision for international expansion in Northwestern Europe position them for continued success. We see significant opportunities for enhancing their product offerings and exploring new markets through a targeted buy-and-build approach. ” – says Jonas Bäckman, Sr. Investment Manager at Main and Chairman of the Board at Nextway.

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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.

For more information visit www.nextway.software or the official Linkedin page.