Company produces significant ARR growth and first profitable quarter in its history
Nuxeo, the leading cloud-native Content Services Platform, announced several notable growth benchmarks, including 33 percent year-over-year (YOY) revenue growth for the first half of 2020, and 36 percent YOY revenue growth for the second quarter of 2020. The company achieved this continued momentum despite the ongoing COVID-19 pandemic and resulting difficult business conditions.
“The COVID-19 pandemic has been extremely disruptive for many of our customers and has created numerous new challenges for how they operate their businesses,” said Eric Barroca, CEO of Nuxeo. “It has also reinforced the need for digital transformation, making it clearer than ever that enterprises must make content and information more accessible to not only survive, but thrive in this challenging environment. In these unfortunate times, we are pleased to be able to help our customers to overcome these new challenges and are grateful to have achieved such outstanding revenue results.”
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On top of strong revenue growth, Nuxeo posted the second-best quarter for new subscription business in the company’s history. Other milestone growth accomplishments include the following:
- New ARR up 54 percent for 1H’20; 102% for Q2’20
- Cloud ARR up 72 percent for 1H’20; Nuxeo Cloud ARR is now 33% of total ARR
- EBITDA profit for Q2’20; first profitable quarter in company history
Nuxeo attributes this success to innovative products and continued customer success with its technologies. Key product developments in the first half of 2020 included:
- A new, “point and click” interface for Nuxeo Insight to enable business users to configure, train, deploy and operate custom AI/ML models
- Enhanced retention management functionality to allow records managers to administer file plans and easily configure retention rules and policies
- A low-code, visual design paradigm for Nuxeo Studio that empowers developers to quickly create user interfaces by simply “dragging and dropping” Nuxeo web elements
- Nuxeo Transformation, a new, separately scalable cloud microservice for performing compute-intensive renditions and transformations on large volumes of content or assets
- A continuous integration/continuous delivery (CI/CD) pipeline, including a fully versioned API, for its Nuxeo Cloud service to support seamless upgrades and frequent product enhancements
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These product and revenue milestones come on the heels of several recent accolades that further validate the company’s continued momentum. Earlier in August, Inc. announced that Nuxeo had secured a spot on the magazine’s annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. In addition, the company has been recognized with a number of new awards, including the following:
- Named a ‘Leader’ in the 2020 Aragon Research Globe for Enterprise Content Platforms;
- Included in KMWorld’s first-ever AI 50 list;
- Leader in G2 Grid® Report for Enterprise Content Management (ECM) Summer 2020;
- Received highest overall rating among ECM vendors in SoftwareReviews 2020 Emotional Footprint Awards.
“Achieving these impressive results in the midst of a global public health crisis demonstrates the enduring appeal of Nuxeo’s approach in helping enterprises to modernize their information infrastructure to better respond to changing market conditions,” said Chris McLaughlin, chief product and marketing officer at Nuxeo. “With every business now forced to rethink how they continue to operate, bring new products to market, and engage with their customers, we are very committed to helping our customers to prosper in an increasingly and now unavoidably digital world.”
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