Prodware Group Revenue H2 2016 Update
Prodware's revenue in 2016 stands at €176m, versus €181.8m in 2015. This represents a fall of 3.2%. Revenue remained basically stable on a comparable basis, nudging down just 0.8%.
The change in the sales model to Saas explains this slight drop in revenue. The Saas model leads to much lower immediate revenue, but will contribute to recurring revenue.
Sales in Saas rose from €12.6m in 2015 to €18.5m in 2016 (a 46.6% increase) and now represent a little over 10% of overall revenue, versus 7% in 2015.