A record quarter fuelled by growth in cloud-based solutions
A record quarter
Esker Q1 2019 consolidated sales revenue amounted to 24.1 million euros, a 18% increase over Q1 2018 (14% based on a constant exchange rate). The difference between constant currency growth and reported growth is mainly due to the strong improvement of the U.S. dollar against the euro. The average euro/dollar ratio was 1.14 in the first quarter of 2019 compared with 1.23 in the same quarter of the previous year.
Esker has, once again, experienced its most successful quarter in company history. Esker’s activity continues to be driven by cloud-based activities. Revenue from SaaS-based automation solutions increased by 17% over the quarter, representing 89% of the company’s business. This performance reflects the implementation of numerous contracts signed in previous quarters as well as the development of Esker’s existing customers.
SaaS-based traffic and subscription revenues increased by 20% while consulting grew by only 8%. This difference is due to the onboarding efforts for new implementation partners as well as the integration of new Esker consultants. This effort will accelerate the startup of newly signed customers and the continuation of strong growth momentum for the quarters and years ahead.