![]() This cadence of regular updates is expected to continue in 2023 and beyond. Products – Sopheon’s product development team produced a series of important release updates throughout the year as Accolade continued its move to a SaaS-based model. Both Acclaim Ideas and Acclaim Products, which are available as online self-service offerings, saw strong signup activity after the launch in September 2022. Acclaim Projects also generated net new Sopheon customers, as well as being cross-sold into a number of Accolade accounts, further expanding the company’s footprint. Capping off a wonderful year, the largest order in the history of the company was secured from Team Submarine, a grouping of submarine programs within the Naval Sea Systems Command (NAVSEA). Also, another 10% of the Accolade installed base converted from perpetual to SaaS licenses, continuing the company’s transition to a SaaS recurring revenue model. ![]() All new customers, including two major life sciences companies, are contracted on a SaaS basis. These included landmark new accounts such as German Aerospace Centre (DLR), Nice-Pak, DAP Global, Royal Air Force and Eckes-Granini. These new products, Acclaim Projects, Acclaim Ideas, along with the internally developed Acclaim Products, expanded Sopheon’s total addressable market by almost $2B USD.Ĭustomers – Sopheon experienced a 60% increase in the acquisition of new Accolade customers compared to 2021. The quick and successful integration of ROI Blueprints and Solverboard resulted in the freshly branded Acclaim family. M&A – Sopheon made two significant acquisitions that enabled the company to fulfill the market demand for InnovationOps tools and products. Additionally, it noted that annual recurring revenue (ARR) at the end of 2022 was up 17.5% over the previous year, and EBITDA improved to $6.9M, beating market expectations. In a challenging market environment, earlier this year Sopheon reported overall revenues of $36.5M, comfortably exceeding market expectations on a constant currency basis. Sopheon holds a prominent position as a leader in the InnovationOps market, and we’re proud of our contributions to customers as they change the world with stunning new innovations.”įinancials – Sopheon delivered strong financial performance while absorbing two acquisitions, transitioning its core business model and launching a family of new products. ![]() ![]() By expanding our end-to-end capability to operationalize innovation, Sopheon has significantly expanded our addressable market, and we are well-positioned to capitalize on a variety of opportunities in 2023. “We delivered impressive financial results, launched new products, expanded our customer base and integrated two acquisitions. “It was a remarkable year for Sopheon,” said Greg Coticchia, chief executive officer of Sopheon. Sopheon enables market leaders worldwide to implement an InnovationOps approach that empowers executives, leaders and team members to predictably drive innovation and new product development in their businesses. The company posted strong commercial and financial performance, launched a new product family, and continued its transition to a software-as-a-service (SaaS) based business model. PITTSBURGH, Ma(GLOBE NEWSWIRE) - Sopheon, the InnovationOps software company, announced highlights for 2022.
0 Comments
Leave a Reply. |