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SAGE Q1 REVS ROSE 1.4 PERCENT Featured

Sage had revenue of about $610.7 million for the first quarter ended December 31, an increase of 1.4 percent year-over-year. And no matter how you slice it, the overall growth is nowhere near the pace of other financial software companies that have reported the December quarter.

The information was in the company’s recent trading update in which it provides revenue, but not earnings figures.  Sage said recurring revenue in the most recently ended quarter rose 4.7 percent to roughly $414 million. North American receive was approximately $218.6 million, an increase of 6.4 percent over last year’s corresponding period. Sage said the results on this continent came principally from the performance of its cloud-based Sage Intacct.  Cloud native revenue, which includes Intacct and Sage People, increased 27 percent. CFO Jonathan Howell said the webcast of the results, company is now “seeing numbers of our Sage 50 base moving to Intacct.” License revenue, which falls under the category software related services and processing, was off 24 percent to about $53.3 million, a trend Howell notes will continue with the move to the cloud and subscriptions. Howell said subscription revenue increased 11 percent to about $414 million. Howell said outside North America, there was roughly $1.4 million in annual recurring revenue outside North America.

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