Annual Report 2017: Siteimprove Reports 52% Growth As It Expands Global Footprint
May 30, 2018
Copenhagen, Denmark – May 30, 2018 – Today, Siteimprove announced its 2017 full year financial results, marking yet another year of solid progress for the company. The year was a success, in terms of both financial performance and significant progress made in expanding and improving the functionality of the Siteimprove Intelligence Platform.
For the sixth consecutive year, Siteimprove achieved strong growth in 2017, increasing its annual revenue by 52% to USD 45 million. This was driven by continued strong demand in established key markets such as the US and the Nordics. Newer Siteimprove subsidiaries in countries such as France, Italy, Spain, and the Netherlands, however, also contributed particularly well in moving the company forward.
In 2017, the global reach of the company’s core product grew by an impressive 31% to nearly 6,500 customers with a total of more than 135,000 users. This was driven by strong interest from both private and public organizations, whose core operations increasingly depend on maintaining an effective digital presence. Moreover, continued focus on digital accessibility, including stricter legislation in this field, also influenced Siteimprove positively.
Commenting on the 2017 result, Chief Executive Officer Morten Ebbesen says, “2017 marked yet another record-breaking year, and the growth we are seeing is possible thanks to a combination of passionate employees and satisfied customers. In 2017, the number of employees grew by 23% to 467. Meanwhile, our customer satisfaction, which is best demonstrated by our Net Promoter Score, showed a score of 56. This places us among the best tech companies in our industry and also explains why we have a customer retention that currently lies above 91%.”
In 2017, Siteimprove noted a net loss of USD 6.8 million, which is fully in line with management expectations considering the investments made in laying the foundation for additional growth. This includes significant cross-departmental investments, increased spending on marketing and core product development. Furthermore, we have also invested substantially in building a stronger presence in local markets around the world.
- In 2017, net revenue increased by 52% to USD 45 million (2016: USD 28 million)
- The total number of customers grew by 31% in 2017 to nearly 6,500 customers. More than 135,000 users worldwide now use Siteimprove
- In 2017, a net loss of USD 6.8 million was noted in line with management expectations considering an overall high investment level to prepare Siteimprove for more growth
- Cash ﬂow from operating activities amounted to USD 6.3 million (2016: USD 1.6 million)
- By December 31, 2017, Siteimprove employed 467 employees globally, representing an increase of 23% compared to year-end 2016
Siteimprove transforms the way organizations manage and deliver their digital presence. With the Siteimprove Intelligence Platform, you gain complete visibility and deep insights into what matters, empowering you and your team to outperform the status quo with certainty every day. With a worldwide customer base of more than 6,000 customers, Siteimprove serves dozens of markets from offices in Amsterdam, Berlin, Copenhagen, London, Minneapolis, Oslo, Sydney, Toronto, and Vienna. For more information, visit siteimprove.com.