Ideagen’s results signal eighth consecutive year of revenue and EBITDA growth
Ideagen, the supplier of quality, safety, audit, performance and risk management software to highly regulated industries, has just recorded its eighth year in a row of revenue and EBITDA growth.
The UK-based organisation, which has offices in Dubai, the United States and Bulgaria and operates a global partner network, has published its unaudited preliminary results for the year ended 30 April 2017. In that report, Ideagen confirms the business has increased revenues by 24% to £27.1 million. Adjusted EBITDA rose 26% to £7.9 million, while underlying organic growth remains at 10%.
The company witnessed success in its Software-as-a-Service (SaaS) business, where revenue increased by 133% to £4.8 million. Ideagen’s management said that success was down to significant investment in Ideagen Coruson, the company’s cloud-based Governance, Risk and Compliance (GRC) platform.
The Group’s acquisition strategy – which last year saw the purchase and integration of Covalent, IPI, PleaseTech and Logen to add further IP, customers and recurring revenue – has also exerted a substantial impact.