Fifth Consecutive Year of Record Sales, Explosive Growth Continues into Q1 2020;
30% Annual Recurring Revenue Growth, 55% Five-Year CAGR
LOS ANGELES, April 09, 2020 (GLOBE NEWSWIRE) -- SmartFlow Compliance Solutions (SmartFlow), a leading software-as-a-service (SaaS) provider of software anti-piracy, business intelligence and monetization technology, today announced its fifth consecutive year of record sales for the 2019 fiscal year and continued dynamic growth in the first quarter of 2020.
Financial Highlights
- 30% growth in annual recurring revenue (ARR)
- 55% five-year compound annual growth rate (CAGR)
- Less than 3% annual gross churn in monthly recurring revenue (MRR)
“SmartFlow’s obsession with customer success paid dividends in 2019 as we reduced our annualized gross MRR churn rate from an already low 4% in fiscal 2018 to just under 3% in 2019,” remarks Ted Miracco, SmartFlow CEO. “We continue to strive for 100% customer retention and are redoubling investments in research and development to drive customer satisfaction and continue this trend.
“Our annualized net MRR churn rate was equally impressive –– minus 11%, as we continue to see growth in subscriptions from our existing clients. Across the board, we are experiencing strong demand, both by adding new customers and expanding the user community within existing accounts. SmartFlow’s software utilization data enables our clients to accurately measure the health and success of their software operations, which is especially important with COVID-19-based restrictions on travel and more people working from home. We see more and more clients leveraging SmartFlow technology for tracking evaluations, educational use, and license compliance, such that software monetization can be data driven.”
About SmartFlow Compliance Solutions
SmartFlow Compliance Solutions (SmartFlow) software monetization platform drives the license compliance programs for the world’s leading software companies. SmartFlow, by providing precise telemetry data that ensures users are properly licensed and authorized, helps clients make informed decisions on the best way to correct licensing problems and protect customers from unfair competition. With a solution for every budget, the data collected by SmartFlow’s innovative technologies provides business intelligence and sales information and organizes, analyzes, and interprets that data into meaningful market insights and quality lead generation. SmartFlow’s license compliance platform can improve productivity, reduce operational costs, and guard against downtime by preventing malware attacks and protecting brand names and reputations.
Engage with SmartFlow at:
Website: www.smartflowcompliance.com
Email: info@smartflowcompliance.com
Linkedin: https://www.linkedin.com/company/smartflow-compliance-solutions
Twitter: @SmartFlow_CS
For more information, contact:
Nanette Collins
Public Relations for SmartFlow Compliance Solutions
(617) 437-1822
nanette@nvc.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/06a44acc-9917-413b-9a37-1e055a578283