- Quarterly revenue of €66.3m, representing organic growth1 of 7.5%
- Subscription activity with organic growth of 59.6% to €23.7 million, i.e., 36% of total revenue
- ACV of new subscription contracts up by 71.6%
- Signature metric up 45.2% for the quarter
In Q1 2021, despite a global health and economic context that remained uncertain, Axway’s (Euronext: AXW.PA) business greatly accelerated compared to the previous year. While the quarter enabled the company to initiate internal reorganisations useful to its new strategic projections, it was above all a period of significant commercial momentum. In line with the company's ambitions and market trends, the Subscription business continued to grow at a very strong pace.
In line with 2020, a significant portion of business in Q1 2021 stemmed from Axway's broad existing customer base, but there was also a marked improvement in the acquisition of new logos. This was particularly true for the Amplify platform, which was adopted by three times as many customers in Q1 2021 as in the previous year over the same period.
With the Amplify API management platform set to be Axway's main growth driver for the coming years, an organisation specifically dedicated to capturing API market share was created. This new structure, which has led to a reorganisation of teams and targeted recruitment in the different regions where Axway operates, is part of a global initiative by the company to specialise its operational teams by product and customer portfolio. While there is no doubt that Axway plans to maintain a leadership position in its historical markets (MFT, B2Bi, AI Suite and others) by offering an exceptional customer experience and reliable, innovative solutions to its 11,000 customers, the company also seeks to continue accelerating its development and recognition in the API market, where it enjoys a particularly robust technological leadership status.
The company has continued to invest in marketing. Its Open Everything campaign has been effective in feeding the business pipeline, which has grown steadily over the first three months of the year. While in many countries it is still not possible to bring together the various market stakeholders under good conditions, Axway continues to evolve its business practices, marketing approach and engagement methods to better meet its customers’ needs. A key event of the year, the Axway Summit 2021, during which the company traditionally brings together its customers and partners, will therefore be held virtually in May for the second year in a row. This event will feature a series of regionalized virtual meetings that will allow Axway to showcase its customer-focused strategy and the value created by its various offerings.