Axway Software: Strong Revenue Performance in Q3 2023

In Q3 2023, as in the first 9 months of the year, Axway (Euronext: AXW.PA) recorded an excellent sales performance characterized by the dynamism of its subscription offerings which continued to grow at a sustained pace, both through the strengthening of long-term partnerships between Axway and several of its major customers, and through the acquisition of new references. Bookings were up 22% as compared to Q3 2022, driven by an increase in the number of transactions with new customers and a major 5-year expansion contract with a leading international financial institution on the Axway Financial Accounting Hub offering.

• →  Quarterly revenue up 11.3% organically1 and 2.7% overall
• →  Annual Recurrent Revenue (ARR) of €202.5m, up 10.4% on end-September 2022
• →  Subscription activity revenue up 50.7% over the quarter
• →  Acquisition of French company Cycom Finances and its PaE solution
• →  Full-year targets confirmed towards upper end in terms of both growth and profitability

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