Esker’s Q1 revenue update confirmed that despite a small reduction in documents processed due to the COVID-19 disruption, revenues grew 17% y-o-y, with cloud-related revenues up 21% y-o-y. Management maintained its outlook for c 10% revenue growth in FY20 and highlighted that the crisis is bringing into focus the benefits of automating back-office processes. We maintain our forecasts, which were recently revised to take account of COVID-19 restrictions.
16 Apr 2020
Esker - Strong Q1 growth; FY20 outlook maintained
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Esker - Strong Q1 growth; FY20 outlook maintained
Esker’s Q1 revenue update confirmed that despite a small reduction in documents processed due to the COVID-19 disruption, revenues grew 17% y-o-y, with cloud-related revenues up 21% y-o-y. Management maintained its outlook for c 10% revenue growth in FY20 and highlighted that the crisis is bringing into focus the benefits of automating back-office processes. We maintain our forecasts, which were recently revised to take account of COVID-19 restrictions.