eXo financial results for Q3 – strong growth despite summer months


eXo achieves another great quarter despite the fact that the summer months are traditionally slower:

  • Cross-product bookings 30% above target
  • Fourth consecutive double-digit Q/Q growth since the new product launch

New annual contract value continues its growth trend with triple-digit growth Y/Y.

Interesting trends this quarter include:

  • Strong growth in the Americas business, bypassing Europe this quarter
  • eXo demonstrates negative churn of existing clients – the tendency is strong among the cohort of clients of the previous product version as well as among new clients

Sales profitability metrics remain stable, with a slight decrease in customer acquisition costs because of decreased marketing program budgets over the summer.

Revenue from subscriptions continue growing, with 17% growth Q/Q. Operating expenses decreased slightly, improving EBITDA.

Management expects the business growth trend to continue in Q4.

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