Sage FY2023 Results
Strong growth in Sage’s cloud-native and cloud-connected portfolios helps us end 2023 on a positive note.
Sage Group recently published their annual results for the year ending 30-Sep-2023. In their own words:
Sage delivered a strong financial performance in FY23, including double-digit revenue growth, increased profitability and strong cash flows.
While the results are published at portfolio rather than product level, Orchid Business Partners can take encouragement from the numbers quoted below.
A big thank you to all Orchid partners who have contributed to this strong performance, which in turn continues to create new opportunities for Orchid’s range of Sage add-ons.
“Cloud Connected” Portfolio – 21% Organic Growth
Sage 300 is a significant contributor to the “Sage 200 franchise”, which in turn forms a core part of the “Cloud Connected” portfolio.
This tends to support anecdotal reports that Sage 300 continues to not just survive, but grow, defying the expectations of many over recent years!
“Cloud Native" Portfolio - 30% Organic Growth
The “continued strong performance” of Sage Intacct is a key reason for this success.
Given the simultaneous growth of the Cloud Connected portfolio, it's clear that much of the Sage Intacct growth is the result of new business, rather than migration from other products like Sage 300. We see this as a positive for all our partners!