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Home News

London Flexible Office Software Firm Optimistic After Trading Update

Aayat AlibyAayat Ali
August 14, 2019
in News
Reading Time: 1 min read
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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 company’s pre-close trading update for the financial year ending July 31 found that the group revenue was at £20.5 million, higher than market expectations.

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The Annual Recurring Revenue (ARR) run-rate grew by 27% from July 2018 to £17.3 million.

The group’s U.S. business has continued to grow year-on-year by 67% to £5.5 million from £3.3 million in 2018.

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Yardi Kube automates flex and coworking operations

“2019 has been an important and exciting year for Essensys. We have a simple vision – to power the world’s largest community of tech driven flexible workspaces,” said Mark Furness, CEO. “We 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.”

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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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