Sitecore Grows Revenue Over 100% Year Over Year With Expanding Global Enterprise Customer Base
Customer satisfaction remains high with over 98% of customers renewing their technical support and product upgrade agreements
San Francisco, November 4, 2008 - Sitecore, the leading provider of .NET Web Content Management Systems (CMS) and portal software, today announced at Ad:Tech that revenues have grown by over 100% over the prior fiscal year 2007-2008. This reflects the overall revenue for the company worldwide, with 95% of revenues coming from new license sales and 4% from training. Less than 1% of the revenue comes from professional services, underscoring Sitecore’s successful strategic focus on software development and the strength of its Partners in providing associated professional services. Over 98% of Sitecore customers worldwide renewed their technical support and product upgrade programs provided directly by Sitecore, a strong display of ongoing commitment and satisfaction.
Sitecore has been profitable in each of the past four years, while maintaining a strong triple digit annual growth rate. This by far exceeds the industry’s average of 15% annual growth, according to top analysts. The net profit for the company remains over 21% of revenues. The Sitecore offices in the United States and Canada represented over 50% of the company revenues, followed by the United Kingdom, Australia, Denmark and three other international sales offices all with strong revenue contributions. These full-service offices provide partner and customer training, product support as well as sales. The employee headcount doubled worldwide to over 120 employees with over 50% in technical and R&D positions.
Sitecore leverages a growing and strong Channel partner model, having over 300 partners worldwide, each with documented competencies in Sitecore and leading edge website design and technologies. The number of Certified Sitecore Developers globally providing technical services has expanded to over 2000, supporting the growth in new implementations. A major new training facility was opened in San Francisco, CA, in June of this year.
Customer wins this year include a broad group of customers, including the US Department of Defense, Sharp Electronics, Sherwin-Williams, ISS, Hershey, Hills Industries and Cirque Du Soleil. Sitecore CMS helps these and thousands of organizations around the world achieve compelling web experiences by providing powerful and flexible .NET website content management solutions.
“This represents another fantastic year,” observed Michael Seifert, CEO, Sitecore. “The achievements I am most proud of are our great customer satisfaction, strong enterprise customer expansion, triple digit growth and the best channel partners imaginable.” Seifert continues, “As for the future, our intellectual property is very strong with multiple pending patent applications. This will create a strong pipeline for more breakthrough products in the coming year.”
Sitecore’s technological advancements and expertise are also recognized in the industry. The company was selected for the 2008 “Cool Vendor Report” by prestigious international analyst and consulting firm Gartner, Inc. Furthermore, the Butler Group, noted analyst group headquartered in the UK, issued a strong and positive Sitecore review in October of 2008.
About Sitecore
Sitecore’s Web Content Management System (CMS) and portal software solutions enable companies to deliver compelling web experiences. Sitecore’s award-winning CMS software makes it easy for businesses to create and keep up-to-date dynamic, full featured Web sites of all types. Sitecore’s industry leading flexibility and scalability allows companies to better leverage their content to improve customer experience and drive business growth.
Thousands of public and private organizations, including national governments and Fortune 500 companies utilize Sitecore solutions for their Web sites. These organizations have created and now manage over 5000 dynamic Web sites with Sitecore including Microsoft, Sara Lee, Siemens, Toshiba, Omni Hotels, Computer Associates, WebTrends and Atlanta Falcons.
Media Contacts:
Rob Adler
Vantage Communications
415-984-1970 x104
radler@pr-vantage.com