Essensys, the cloud software used by numerous flexible office firms, has announced its revenues have risen by 23% after its debut on the London Stock Exchange this year.
The companyโs pre-close trading update for the financial year ending July 31 found that the group revenue was at ยฃ20.5 million, higher than market expectations.
The Annual Recurring Revenue (ARR) run-rate grew by 27% from July 2018 to ยฃ17.3 million.
The groupโs U.S. business has continued to grow year-on-year by 67% to ยฃ5.5 million from ยฃ3.3 million in 2018.
โ2019 has been an important and exciting year for Essensys. We have a simple vision โ to power the worldโs largest community of tech driven flexible workspaces,โ said Mark Furness, CEO. โWe are delighted to provide a strong first trading update and we look ahead with confidence based on excellent pipeline visibility and good early progress with our plans to broaden and deepen our customer base, extend our geographic reach and accelerate product development.โ
