Visma reaches milestone of EUR 2.5 billion in annual revenue

After strong growth, software company can count on annual recurring revenue for the first time (ARR) of EUR 2.54 billion.

Visma made the announcement while presenting its second-quarter financials. While it had achieved ARR of €2.4 billion in the first quarter, the new record of €2.54 billion represents a 21 percent increase year-on-year. Visma attributes the increase to increased sales to existing and new customers. The company welcomed 270,000 new customers in the first six months.

Acquisition strategy

Expansion through acquisitions is also seen as a growth driver. Nine software companies were acquired in the second quarter. What is significant about these acquisitions is that they increased the presence to 33 countries. The quarter began in April with the acquisition of tax advisory SaaS platform Fiscozen, which made Visma active in Italy. It then expanded into Croatia with the acquisition of Moj eRačun, a provider of e-invoicing solutions.

In addition, the results of the earlier entry into France are becoming increasingly visible. There, three acquisitions have been made there so far.

Cloud products and services accounted for more than 89% of revenue in Q2, up from 86% a year earlier. Subscription-based SaaS products accounted for 76% of total revenue, up 4 percentage points from a year earlier.

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