IFS the global enterprise applications company, has posted its financial results for the first quarter that ended March 31, 2019.
Net revenue for the quarter increased 29% to US$154 million on the back of a remarkable 67% growth in licence revenue, mainly driven by a massive influx of new customers across the globe. These outstanding results confirm both the capabilities of IFS’s offering and the company’s focus on providing sensible enterprise applications that deliver value.
Adjusted EBITDA grew by nearly 70% during the quarter. While increased revenue was the major driver behind the increase in profits, IFS has focused on significantly reducing the historical investments in the parts of the business which were either non-core, or not contributing value to customers. This singular focus on what customers appreciate—and what they need to continue to challenge their respective industries—remains the guiding principle at IFS. IFS sees the opportunity to continue to incrementally expand its margins as the business grows to scale.
