FADEL Issues Trading Update Indicating Strong FY23 Results with YOY Revenues Up 10%
NEW YORK, Feb. 7, 2024 /PRNewswire-PRWeb/ -- FADEL®, innovator of brand compliance and rights and royalty management software, has announced its pre-close 2023 fiscal year trading update based on unaudited management accounts, with year-on-year revenue up 10% and recurring revenue up 31%. Further, prudent management of costs should ensure FADEL reaches EBITDA breakeven earlier than previously forecast.
- Further, prudent management of costs should ensure FADEL reaches EBITDA breakeven earlier than previously forecast.
- 2023 brought big wins for FADEL in the consumer goods industry, with powerhouse net-new clients including PepsiCo, Kimberly-Clark, Sanofi, and Philip Morris.
- These successes further solidify FADEL's position as an industry leader, providing a strong platform for future opportunities.
- FADEL's significant incline in recurring revenue, encouraging pipeline, and upcoming professional services engagements, underpin confidence in revenue growth plans for 2024.