CAST - Growth trajectory confirmed: +5.8%

Growth trajectory confirmed: +5.8%

* At prevailing exchange rates

Paris, November 2, 2020, at 5:45 p.m.:

The third quarter of 2020 brought a marked increase in Channel sales, representing almost 50% of license and subscription sales. Many transactions were completed via i) digital-transformation consulting firms with an eye to evaluating the risks and opportunities in connection with cost reduction and/or improving operating efficiency, ii) major Cloud providers (Azure and AWS, in particular) that see CAST technology as a means of identifying good candidate applications for their respective infrastructures and iii) large system integrators that recommend CAST Highlight and CAST Imaging to accelerate the process of modernizing applications. Of particular note for the third quarter is the signature of a major contract with a big US airline via a strategic partnership for Cloud refactoring and migration.

SaaS CAST Highlight sales exceeding €1.2M, compared with €0.3M for the third quarter of 2019, are not reflected in the revenue for the quarter that is essentially made up of sales from the prior quarters in accordance with the IFRS standards applicable to SaaS ("Software as a Service").

The pipeline is healthy, well-balanced and very geared toward modernization, agility, Cloud migration and cost reduction, all of which make it resilient in the current economic context. A significant portion is carried out through our network of partners for whom our “MRI for Software” represents a highly differentiated business enabler.

A year of profitable growth remains in the cards although we must read carefully in view of the current context.

Upcoming:

Publication of annual revenue on February 1, 2021, after market closes

CAST is the pioneer and category leader in Software Intelligence, providing insight into the structural condition of software assets. CAST technology is renowned as the most accurate “MRI for Software,” which delivers actionable insights into software composition, architectures, database structures, critical flaws, quality grades, cloud readiness levels and work effort metrics. It is used globally by thousands of forward-looking digital leaders to make objective decisions, accelerate modernization and raise the security and resiliency of mission-critical software.

Visit castsoftware.com.

Source Actusnews