The video communications provider, Pexip, today presented its annual recurring revenue (ARR) for the third quarter of 2020.
- Pexip’s subscription base measured in ARR reached USD 72.8 million in Q3 2020, up from USD 42.8 million in Q3 2019, representing an increase of 70%.
- The Company reported an increase in ARR of USD 7.0 million for Q3 2020, compared with USD 2.7 million in Q3 2019.
- In addition, the customer base acquisition announced in July is expected to have an overall impact on ARR of USD 2 to 3 million. Most of the bookings are expected to happen in Q4 2020. USD 0.4 million was booked in Q3 2020.
- Net revenue retention rate, showing the percent of retained revenue from existing customers, was 115% year-on-year, including churn of -10% year-on-year. Net new sales accounted for 55% of the year-on-year growth.
- ARR from Infinity, Pexip’s software platform, grew 55% year-on-year, and ARR from Pexip’s Cloud Service grew 101% year-on-year.
- The Company continues to track ahead of its plan to reach USD 300 million in ARR by 2025. […]