WeDo Technologies Announces FY2018 Results

WeDo Technologies – worldwide leader in revenue assurance and fraud management, continues to strengthen its market leadership in risk management software solutions following a successful FY2018, which included the acquisition of new customers, expanding its product portfolio and increasing its footprint across the globe and into new verticals.

FY2018 Financial Highlights include:

– Recurring revenue as percentage of total revenue remained stable at ~50%

– Orders increased to over 60 million – including 14% growth in managed services

– Order backlog was 42,8 million – a 9% growth vs 2017

– Strong year-on-year EBITA growth

FY2018 Operational Highlights include:

– Increased customer footprint with 12 new customers in Europe, MEA, North America, APAC and South America

– Further expanded its presence in telecom, while at the same time grew its global footprint in energy, retail, banking, insurance and healthcare

– Launched RAID 8.0 along with new product modules that feature AI, machine learning and advanced analytics capabilities

– Implemented new live installations of RAID.Cloud, its cloud-native SaaS solution

– Announced an agreement with Amazon Web Services

– Recognized by Gartner as a Vendor to Watch in its CSP Fraud Management Report

– Awarded the Market Leadership Award for Financial Assurance by Frost & Sullivan

Rui Paiva, CEO of WeDo Technologies,

/Public Release.