Thursday, May 01, 2014

Prepping for ReadSoft User Conference, May 14-16

Looks like I'm heading down to this year's ReadSoft User Conference, May 14-16 New Orleans.. Should be a good, fun and productive event. I'm expecting to get an overview on ReadSoft's direction through a combination of attending the sessions, one-on-one interviews with ReadSoft executives and partners, and some good ole' Nawlins networking.

I visited the ReadSoft offices almost a year ago and came away with this overview of their basically two-pronged strategy: expanding their capture and P2P practices. It will be interesting to see how that strategy has evolved over the year, under the guidance of Andrew Pery, who was working for ReadSoft as a consultant when I visited last year, and was later named the company's first CMO.

ReadSoft is coming on an improved first quarter that included 27% YOY growth in software license sales and a 9% increase in overall revenue. ReadSoft's EBITDA was improved, but the ISV still lost money. According to President & CEO Per Ã…kerberg CEO, as quoted in the press release on the Q1 financials, "Our EBITDA result and our margins have taken clear s teps in the right direction....A gradual change in the reporting of our revenues from our support and maintenance agreements has affected this quarter’s result negatively compared to first quarter last year. This effect means no lost revenue but only a time delay in the reporting of these revenues."

2 comments:

FTI Tech said...

How did the conference turn out? Are there any similar ones this year?

DIReditor said...

Conference went great. There were more than 200 people there, and I got some good insight into the proposed acquisition by Lexmark, as well as new developments with ReadSoft's e-invoicing network and XBOUND capture platform. Let me know if you'd like to read the article I wrote and I'll send it over.