Sidetrade Reports 2024 Results: Revenue Up 26%, Profit Increases 40%
AI-powered Order-to-Cash solutions provider Sidetrade announced its 2024 annual results, showing a 26% increase in revenue and a significant rise in net profit. The company's operating margin exceeded 15%.
Sidetrade, a provider of AI-powered Order-to-Cash applications, has reported its financial results for the fiscal year 2024. The company announced a 26% increase in revenue, reaching €55.0 million. Net profit saw a 40% surge, amounting to €7.9 million, while the operating margin improved to 15% of revenue, a 45% increase.
The company's growth was supported by a 13% rise in Annual Contract Value (ACV) to €12.73 million. SaaS subscriptions grew by 22%, contributing to a 16% organic revenue increase when excluding the impact of the SHS Viveon acquisition. The acquisition of SHS Viveon, finalized in June 2024, added €4.4 million to the revenue in the second half of the year, expanding Sidetrade's presence in the DACH region and increasing international revenue share to 65%.
Sidetrade highlighted its continued investment in research and development, particularly in advancing its artificial intelligence capabilities. The company anticipates that its AI agent technology, exemplified by its Aimie platform, will drive greater autonomy and optimization within business processes.
Looking ahead, Sidetrade emphasizes its strategic positioning for continued global expansion and technological leadership in the Order-to-Cash software market, driven by its AI-centric approach.