Sidetrade (ALBFR) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenue rose 33% year-over-year to €14.9 million, with SaaS subscriptions up 31% to €12.5 million, driven by organic growth and the SHS Viveon acquisition.

• Bookings for Q3 reached €1.52 million in new ACV, down from €2.49 million last year, but nine-month bookings increased 6% year-over-year to €8.94 million.

• International markets now account for 68% of revenue, with North America delivering 30% growth and €4.1 million in Q3 revenue.

• Sidetrade completed registration as a Dematerialization Platform Partner in France and rose to the top 15% on EcoVadis for ESG performance.

Financial highlights

• Q3 2024 revenue: €14.9 million (+33% year-over-year); SaaS subscriptions: €12.5 million (+31%).

• Excluding SHS Viveon, revenue grew 14% and SaaS subscriptions 15% year-over-year.

• SHS Viveon contributed €2.1 million in Q3 revenue and €1.5 million in recurring SaaS revenue.

• Bookings for the first nine months: €8.94 million in new ACV (+6% year-over-year).

Outlook and guidance

• Management expects to match or exceed the 2023 record of €11.2 million in new ACV for the full year.

• Double-digit growth trajectory reiterated for 2024 and beyond, supported by a strong business pipeline.