Enterprise transformation platform provider Orbus Software has announced its financial results for the year to date (YTD) ending September 2023. The company reported substantial year-on-year (YoY) increases in annual recurring revenue (ARR), cloud revenue, and average deal size.
Financial and operational highlights for YTD FY2023:
- YTD FY2023 ARR increased by 32% YoY versus FY2022
- YTD FY2023 cloud ARR saw an increase of 69% versus YTD 2022
- YTD FY2023 average ARR deal value increased by 40% versus YTD 2022
- More than 65% of ARR is now on OrbusInfinity, the company’s SaaS platform
- The platform’s ARR is now 23x greater than in December 2020
This substantial growth highlights the continued global market demand for and value of services that provide a digital blueprint of an organization and support transformation initiatives. Orbus Software’s leading status in the industry has also been highlighted by leading industry awards including GP Bullhound’s Allstar Company Challenge 2023 and the UK tech awards 2023. The company was shortlisted for both and recognized as a leading scale-up in the European and UK tech community.
"Enterprise transformation is now a necessary and continuous discipline to ensure sustainable business success, improving decision-making, reducing risk, and saving costs," said Gareth Burton, CEO at Orbus Software. “Organizations worldwide are recognizing this need. We are proud to support their strategic initiatives and help them manage complex technology change in an increasingly competitive business landscape. We absolutely agree with McKinsey that this generation of business leaders will be transforming their enterprises for the rest of their careers."
Orbus Software is building on this success by working closely with Microsoft to develop new AI-powered features and solutions within OrbusInfinity. It looks forward to sharing further details, alongside its full analyst update for FY2023, in January 2024.