Sidetrade: 33% Increase in Revenue for Q3 2024

Q3 bookings at €1.52 million, in line for 2024

Strong revenue growth, up 33%, with SaaS subscriptions up 31%

Registration completed in France's public invoicing portal

Sidetrade rises to the Top 15% on EcoVadis

Sidetrade, the global leader in generative AI-powered Order-to-Cash applications, announced a 33% revenue increase for the third quarter of 2024.

Olivier Novasque, CEO of Sidetrade commented:

“To date, our continually robust organic growth, combined with the strategic relevance of our external growth through the consolidation of SHS Viveon, has triggered an impressive 33% increase in our revenue. The expected slowdown in bookings over the third quarter, which is traditionally the weakest period of the year, in no way affects our ambition to match or even exceed our all-time record for contracts won last year. That said, we are embarking on a strong trajectory and reiterate our confidence in stepping up double-digit growth for 2024 and further out.

Parallel to this, our official registration as a Dematerialization Platform Partner by France's Public Finance Department, and, in a different context, reaching the Top 15% of the EcoVadis ranking highlights our commitment to the environmental, social and governance responsibility. Performance, safety and efficiency are more than mere targets; together, they form the pillars that shape our future.

Quarter after quarter, our resilient economic model combined with our technological lead in AI and accelerated international growth – now with 68% of revenue achieved outside France – have enabled us to significantly upscale in next to no time, fast-tracking Sidetrade's development into one of the select few Order-to-Cash technology leaders worldwide.”

Q3 bookings at €1.52 million, in line for 2024
In Q3 2024, which is traditionally the weakest of the year, Sidetrade achieved bookings of€1.52 million in New Annual Contract Value (ACV), versus €2.49 million in the same period last year. As announced during the September 11 investor presentation, the expected slowdown in third-quarter bookings against a complex economic and political backdrop does not affect the Group's positive outlook for the full 2024 fiscal year.

In the first nine months of 2024, Sidetrade recorded €8.94 million for bookings in New Annual Contract Value (ACV), compared to €8.42 million year-over-year (+6%). Given the postponement of a number of new contracts in Q3 2024 – serving to bolster an already strong business pipeline for Q4 2024 – Sidetrade is expected to match or even exceed its historic bookings record on a full fiscal year basis, which was set in 2023 with €11.2 million achieved in new ACV terms.

Strong revenue growth, up 33%, with SaaS subscriptions up 31%

(1) includes €1.5m in recurring revenue from SHS Viveon
(2) includes €2.1m in revenue from SHS Viveon

In Q3 2024, Sidetrade achieved revenue of €14.9 million, representing an increase of 33% and up 14% on a comparable scope basis (excluding the recent acquisition of SHS Viveon). This strong performance is attributable to several key factors.

First, the robust momentum in revenue growth on a constant scope basis continues. As a reminder, in the first half of 2024, Sidetrade reported a 19% increase in its revenue with growth of 18% in revenue for SaaS subscriptions which was impacted by a 4% contribution from the CreditPoint Software business, consolidated as of July 2023. On a constant scope basis, growth in the Company's revenue was therefore 15%, with a 14% increase in revenue for SaaS subscriptions. In line with this performance, Sidetrade (excluding SHS Viveon) sustained vigorous momentum over Q3 2024, posting a 14% increase in its total Company revenue and 15% revenue growth for SaaS subscriptions, driven by a record performance for half-year bookings.

In addition, the consolidation of the SHS Viveon business – effective since July 1, 2024 – substantially contributed to this quarterly growth, delivering a positive impact of 19%. SHS Viveon generated revenue of €2.1 million in Q3 2024. Fully consolidated in the DACH region (Germany, Austria, Switzerland and eastern European countries), SHS Viveon's business represents a new growth driver for Sidetrade, with this geography now accounting for 14% of the Company's total revenue.

On the back of SHS Viveon's consolidation, international markets now represent 68% of the Group's revenue. With more than 70% of its workforce based outside France, Sidetrade is strongly positioned to capitalize on an increasingly globalized market, while leveraging a strong local presence in its strategic markets.

Lastly, North America delivered the strongest growth, with revenue up 30%, representing €4.1 million over the period. This market will continue to play a pivotal role in Sidetrade's growth trajectory.

Analysis of the Company's customer profiles (including the consolidated SHS Viveon) is underpinned by brisk growth of 53% in subscriptions with multinational corporations generating €2.5 billion-plus revenue. These contracts now account for more than half (52%) of Sidetrade's total subscriptions and are expected to remain an important growth driver in the quarters ahead. The acquisition of SHS Viveon has helped accelerate this momentum, thanks to the business' established portfolio of key accounts.

Registration completed in France's public invoicing portal

Under France's reform of electronic invoicing, Sidetrade was recently registered as a Dematerialization Platform Partner by the country's Public Finance Department.

While acknowledging that this initiative marks a step forward, Sidetrade does not regard it as providing a competitive advantage to its solutions and the Company is continuing to assess all options consistent with its targets for strategic development, both in France and internationally.

Sidetrade rises to the Top 15% on EcoVadis

Sidetrade recently secured a new Silver medal from EcoVadis, ranking among the top 15% of companies rated within its industry. This award recognizes the Group's social and environmental performance.

In September 2024, the Company reached a score of 70/100, placing it in the 91st percentile. This progress from its previous rating of 68/100 and its positioning in the top 25% underscore the Group's relentless focus on improving its sustainable operations. The EcoVadis score illustrates the strides taken to address environmental, social, and ethical issues, particularly through strengthened policies on cutting energy consumption and optimizing technical infrastructure.

Such recognition distinguishes Sidetrade as one of the sustainability leaders in its sector, enhancing its credibility with international clientele and partners while cementing its position as a responsible company committed to driving the transition towards a more sustainable economy.

Next financial announcement
Annual Revenue for 2024: January 21, 2025 (after the stock market closes)

Investor relations
Christelle Dhrif                00 33 6 10 46 72 00           [email protected]

About Sidetrade (www.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) provides a SaaS platform designed to revolutionize how cash flow is secured and accelerated. Leveraging its next-generation AI, nicknamed Aimie, Sidetrade analyzes $6.1 trillion worth of B2B payment transactions daily in its Cloud, thereby anticipating customer payment behavior and the attrition risk of more than 38 million buyers worldwide. Aimie recommends the best operational strategies, dematerializes and intelligently automates Order-to-Cash processes to enhance productivity, results and
working capital across organizations.
Sidetrade has a global reach, with 400+ talented employees based in Europe, the United States and Canada, serving global businesses in more than 85 countries. Amongst them: Bidcorp, Biffa, Bunzl, Engie, Expedia, Inmarsat, KPMG, Lafarge, Manpower, Opentext, Page, Randstad, Saint-Gobain,
Securitas, Sodexo, Tech Data, UGI, and Veolia.
Sidetrade is a participant of the United Nations Global Compact, adhering to its principles-based approach to responsible business.

For further information, visit us at www.sidetrade.com and follow @Aimie on LinkedIn.

In the event of any discrepancy between the French and English versions of this press release, only the French version is to be taken into account.

Attachment

• Sidetrade reports a 33% increase in 2024 Q3 Revenue.