CAST : Q1 revenue up 35% - Confirmation of the strategy's relevance

Q1 revenue up 35%

(+40% at constant currency)

Confirmation of the strategy's relevance

* At prevailing exchange rates

New York and Paris, May 3, 2021

Pioneer and category leader in software Intelligence, CAST delivered an excellent first quarter that was marked, in particular, with many contracts with new clients and a diverse geographic distribution of revenue. The quarter also marks a milestone joint go-to-market agreement reached with Accenture, similar to the existing agreement with IBM Global Business Services, for faster, safer and easier application modernization and cloud migration of their clients' complex custom-build applications.

At the end of March, revenue was up sharply by 35% (+40% at constant currency) compared with Q1 2020. The investment plan implemented over the last few years therefore continues to bear fruit and has been successful in improving the go-to-market strategy using integrator partners, the maturity of the technology and the promotion of new uses for software intelligence, now focused on digital transformation, refactorig and shifting to Cloud, increased productivity of developers and pre/post M&A due-diligence techniques.

Besides the financial results, sales through partners allow for faster seeding and market penetration.

The foundation for a successful performance is now well established, with the perfect market-dynamics storm resulting in increased demand for software intelligence.

CAST confirms its targets of revenue growth exceeding 10% and profitable 2021 fiscal year.

Upcoming:

Publication of half-year results on July 28, 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 www.castsoftware.com.

Source Actusnews