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QUISITIVE’S CLOUD REVS UP 96% Featured

 

 Dynamics reseller Quisitive showed the impact of its acquisitions as revenue grew by 94 percent for the year ended December 31 and revenue for its Global Cloud Solutions grew 96 percent year-over year.  

The growth reflects the full impact acquisitions of Mazik Global in April 2021 and Catapult Systems in November 2021. Total revenue reached $187.3 for 2022, compared to $96.7 million for 2021.  Global Cloud Solutions revenue reached $137.3 million last year, up from $70 the prior year. The remainder of revenue came from Global Payment Solutions, which hit $50 million in last year, an 87.3-percent rise from $26.7 million in 2021. Quisitive cut its year-over-year loss by 44.6 percent of $9.3 million from $16.8 million. During the earnings webcast for 2022, CFO Scott Merriwether noted that the company expects the first quarter to be the weakest for 2023 because of businesses evaluating the macro economy. “We still expect double digit growth from cloud for 2023,” he said. While some deals have slipped, they are been more because “large deals are taking a little longer to get through,” the approval process, Merriweather said. He noted the company is seeing strong growth in managed services and healthcare.

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