Home Artificial Intelligence Correction: Sidetrade: 2020 Q3 Revenue up 14%

Correction: Sidetrade: 2020 Q3 Revenue up 14%

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Continued double-digit growth. Q3 revenue up 14%.

Sidetrade (Euronext Growth: ALBFR.PA), the Artificial Intelligence platform dedicated to accelerating company revenue and cashflow, once again announces double-digit growth, with 2020 Q3 revenue up 14%.

Olivier Novasque, founder, and CEO of Sidetrade, had this to say:

“Even in the midst of a deep-seated health crisis, in a quarter which tends to be slower than the rest of the year, we managed to achieve double-digit growth. More than ever, in this period of unprecedented uncertainty, Sidetrade has shown the resilience of its SaaS growth model. Our Artificial Intelligence offerings are tailored for today’s global businesses. This is a vast market with untapped potential, and we intend to take the lead.”

Continued double-digit growth. Q3 revenue up 14% 

Sidetrade
(millions of euros)
2020 Q3 2019 Q3 Variation
Revenue 7.3 6.4 + 14%

2020 information from unaudited consolidated data.

Following up on two excellent quarters, Sidetrade continues with outstanding double-digit growth in Q3, a period which in fact tends to be the slowest in the year. 2020 Q3 revenue was €7.3m, up 14% against the same period last year.

Key events

The period saw several prestigious new clients come on board, including Azets (international auditing and accounting) for their Northern European operations; K2 Partnering Solutions (recruitment of technology consultants) for their British and US operations; and a promising pilot project for Vinci Construction in France.

One of the most exciting events in the quarter was confirmation that the American group Tech Data would be rolling out Sidetrade technology for all their business in the US, as well as in 26 European countries. This is no small feat, to say the least, considering that Tech Data is a multinational leader in the distribution of IT products and services, with revenue of 36.78 billion USD and ranked 88th on the Fortune 500. The go-ahead stems from the successful 2019 pilot phase in the US, France and Switzerland. On an annual basis, this new client represents an additional B2B transaction flow of around $45b to be managed in the Sidetrade cloud, making Tech Data one of Sidetrade’s biggest accounts.

In other news, Midcap Partners, a broker and investment bank specialized in small and midcaps, initiated coverage of Sidetrade on 9 October 2020, considerably boosting Sidetrade’s visibility to European and North American investors. You can read the report by Midcap Partners on the Investors page of the Sidetrade website.

Sidetrade confirms their perspective of double-digit growth in FY2020.

 

Next communications

2020 Annual Revenue: 26 January 2021 (after stock market closes)

  Investor & Media relations

Christelle Dhrif               +33 6 10 46 72 00           cdhrif@sidetrade.com

 About Sidetrade (www.ww.sidetrade.com)

Sidetrade (Euronext Growth: ALBFR.PA) accelerates company revenue and cashflow. Its Artificial Intelligence, Aimie, is able to recognize and anticipate customer behavior in order to recommend, in real time, the best strategies for sales and finance teams. Aimie reinforces three pillars of the customer journey: sales development, loyalty and collection speed. Sidetrade has a global reach, thanks to its 250 talented employees based in Paris, London, Birmingham, Dublin, and Amsterdam. Used in 80 countries, Sidetrade’s technology enables more than 2,700 businesses of all sizes and from all sectors to be more competitive.

For further information, visit us at www.sidetrade.com and follow us on Twitter @Sidetrade.

In case of a discrepancy between the French and English versions of this press release, only the French version should be deemed valid.

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