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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