After strong growth, the software company can count for the first time on an Annual Recurring Revenue (ARR) of €2.54 billion.
Visma announced this when presenting its financial figures for the second quarter. Although it still achieved an ARR of €2.4 billion in the first quarter, the new record of €2.54 billion represents a growth of 21 per cent year-on-year. Visma attributes the increase to more 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 driver of growth. Nine software companies were acquired in the second quarter. What is essential about these acquisitions is that they increased the presence to 33 countries. The quarter began in April with the acquisition of the SaaS platform Fiscozen for tax advice, making Visma active in Italy. It then expanded into Croatia by acquiring Moj eRačun, a provider of e-invoicing solutions.
In addition, the results of its earlier entry into France are becoming more visible. There, three acquisitions have been completed so far.
More than 89 per cent of second-quarter revenue came from cloud products and services. Exactly a year earlier, these represented 86 per cent of sales. Subscription-based SaaS products accounted for 76 per cent of total revenue, up 4 percentage points from last year.