Sidetrade: Outstanding 26% growth in Revenue for 2024

Solid Q4 2024: subscription bookings up 33%

New record for bookings, year-over-year

Strong revenue growth in 2024, up 26%, with SaaS subscriptions up 22%

Consolidated expansion in Europe with the acquisition of SHS Viveon
Revenue up 36% in the United States
65% of revenue in international markets

Sidetrade rises to the Top 15% in EcoVadis ratings

Sidetrade, the global leader in AI-powered Order-to-Cash applications, announces 26% revenue growth for the 2024 fiscal year.

Olivier Novasque, CEO of Sidetrade, commented:

“Following a downturn in the third quarter, we finished the year with a return to dynamic growth for fourth-quarter bookings, posting slightly more than €2 million in new annual recurring revenue (ARR), significantly up by 33% year-over-year. Except for Q3, we successfully aligned three out of four quarters throughout the year, with slightly over €2 million in new ARR per quarter. As a result, we achieved a new annual record for bookings. Figures aside, this dynamic confirms three structural trends that will propel Sidetrade’s trajectory in the months and years ahead. 1/ Our technological lead in AI, now boosted by generative AI capabilities, positions us to secure very large global accounts. 2/ Sidetrade is firmly establishing itself as the go-to partner for multinational companies, with a 44% growth in subscriptions from companies with revenue exceeding €2.5 billion and nearly 80% of total subscription revenue coming from those generating over €1 billion. 3/ The United States is and will continue to act as a vigorous growth driver for the Group, registering nearly half of the year’s bookings (46%) and with impressive revenue growth (+36%). To this end, and in anticipation of the expected market environment on both sides of the Atlantic, we decided to focus most of our business investments for 2025 on North America, where we see considerable growth potential. 2024 heralded a milestone in our development, buoyed by a promising start in generative AI-powered Order-to-Cash applications, not to mention our stronger leader position in Europe following the acquisition of SHS Viveon, and lastly, a marked acceleration in our US expansion. Looking ahead to 2025 and beyond, Sidetrade is on track to deliver another year of growth and profitability.”

Solid Q4 2024: subscription bookings up 33%
Sidetrade ended Q4 2024 with bookings of €2.08 million in new ARR, a substantial increase of 33% versus €1.56 million in the same period last year. Parallel to this, services bookings, with almost all invoiced within 12 months of their signing, totaled €1.72 million, up 29% on the same period the previous year (€1.33 million).

Overall, new Annual Contract Value (ACV) – combining new yearly subscriptions and related services – totaled €3.8 million, representing a sustained increase of 31% versus €2.89 million in Q4 2023.

New record for bookings, year-over-year (ACV up 13%)
Despite a sharp decline in Q3 2024, Sidetrade succeeded in setting a new full-year record for bookings, both in terms of total new subscriptions and related services. For the fiscal year 2024, new contracts amounted to €6.53 million in subscriptions in new ARR, up 6% from the €6.18 million reported in 2023, with services bookings of €6.2 million, i.e., growth of 21% versus the €5.1 million recorded in the previous fiscal year.

On balance, new ACV totaled a never-before-seen €12.73 million, compared to €11.30 million year-over-year (+13%).

The United States played its full role as a growth driver, with a 36% increase in subscription bookings, accounting for 46% of the total. In addition, the Northern Europe region – mainly driven by the United Kingdom – kick-started a positive upturn with €0.74 million in subscriptions for 2024, representing a 20% increase on 2023 and indicating potential for further growth in 2025.

In the 2024 fiscal year, bookings in subscriptions by new customers (“New Business”) accounted for 63% of the total, while 18% of total bookings were driven by Cross-selling for new entities within a Group. Lastly, Upselling of additional modules to existing customers represented the remaining 19% of bookings.

Strong revenue growth in 2024, up 26%, with SaaS subscriptions up 22%

Sidetrade (€m)	2024	2023	Change
SaaS subscriptions	45.5 ⁽¹⁾	37.3	+22%
Revenue	55.0 ⁽²⁾	43.7	+26%

(1) includes €3.0m in recurring revenue from SHS Viveon
(2) includes €4.4m in revenue from SHS Viveon

In 2024, Sidetrade achieved annual revenue of €55.0 million, representing a year-over-year increase of 26% and up 16% on a comparable basis (excluding the acquisition of SHS Viveon completed in June 2024), which is underpinned by solid internal momentum. These outstanding results are due to several factors:

Sustained organic growth

Excluding the contribution of SHS Viveon, Sidetrade expertly demonstrated its ability to sustain growth. Total Company revenue (excluding the acquisition) increased by 16%, while SaaS subscriptions were up by a sizeable 15%. In particular, this performance was bolstered by a record first-half for bookings. In parallel, the Group’s Services business achieved remarkable growth of 24%, notably thanks to deployment projects signed worldwide.

Strategic acquisition of SHS Viveon

Following its consolidation on July 1, 2024, SHS Viveon delivered revenue of €4.4 million, serving to accelerate Sidetrade’s growth momentum. Fully consolidated in the DACH region (Germany, Austria, Switzerland and eastern European countries), SHS Viveon’s business accounted for 15% of the Company’s total revenue in H2 2024. This new geography is now an established growth driver for the Group.

A fast-expanding global presence (65% of revenue)

Sidetrade is extending its foothold worldwide, which validates international expansion as one of its strategic pillars. The consolidation of SHS Viveon has propelled the share of revenue generated outside France to 65%, a significant development testifying to the Group’s successful expansion.
What’s more, with 70% of its workforce based abroad, Sidetrade has proven its ability in expanding in global markets while upholding close ties with local customers, fostering trust and effectiveness.

Remarkable performance in North America (+36%)

Of all the Group’s geographies, North America posted the strongest growth for 2024, up 36% and accounting for €16.6 million in annual revenue. This strategic market will continue to play an important role in fulfilling Sidetrade’s ambitions for development.

Rise in subscriptions from multinationals: a growth driver for Sidetrade
Analysis of Sidetrade’s customer profiles, which is enhanced by the consolidation of SHS Viveon, is underpinned by impressive growth of 44% in subscriptions with multinationals generating €2.5 billion-plus revenue. These contracts now account for 50% of Sidetrade’s total subscriptions, proving critical to the Company’s development strategy.

More generally, subscriptions with multinationals achieving €1.0 billion-plus revenue now represent 79% of the total portfolio, cementing Sidetrade’s strengthened position as the partner of choice among large corporations.

The acquisition of SHS Viveon substantially contributed to this performance, providing an established portfolio of key accounts and widening the scope for Sidetrade with major companies in the DACH region. With this expanded customer base, Sidetrade is firmly positioned to sustain demand and fully capitalize on these new opportunities over the next few quarters.

It should be noted that all multi-year Sidetrade contracts are routinely indexed to inflation (the Syntec for Southern Europe, the UK CPI for Northern Europe and the US CPI for the United States). This measure alters the total price of SaaS subscriptions each year by reference to changes in these price indices, without the need for contract renewals.

Sidetrade rises to the Top 15% in EcoVadis ratings

2024 marked a new milestone for Sidetrade in terms of social and environmental performance as the Group was awarded a Silver medal from EcoVadis. As a result, the Company now ranks among the top 15% rated within its industry.

With a score of 70/100 – an improvement from 2023 – this medal recognizes the Group’s efforts to shrink its energy footprint while optimizing infrastructure. This success reaffirms Sidetrade’s status as a responsible partner in the transition towards a sustainable economy.

Sidetrade looks ahead to the fiscal year 2025 with confidence and a clear vision, and has the resources to fulfill its ambitions.

Next financial announcement
Annual Results for 2024: March 26, 2025 (after the stock market closes)

Investor relations
Christelle Dhrif 00 33 6 10 46 72 00 cdhrif@sidetrade.com

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 @Sidetrade 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.

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