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IFS REVS RISE 33 PERCENT Featured

Revenue for IFS increase by 33 percent year-over-year to approximately $792.2 million for the third quarter ended September 30. The Linköping, Sweden-based ERP vendor also said software revenue reached about $631.4 million, an increase of 37 percent from last year’s corresponding period.

IFS said its figures were reported in constant currency. IFS gave the increase in cloud revenue as 54 percent and annual recurring revenue as 49 percent. The company headlined its press release saying revenue for driven by strong demand for AI, but did not discuss that demand into any specific features of its products. In a prepared statement, CEO Darren Roos said,The macro interest and appetite for AI bodes well for IFS with its AI architecture, IFS.ai, that extends the value of AI across all its capabilities and throughout a customers’ businesses.”

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