QUANTIQ Technology Ltd | 2020 Results Update, 13th January 2021
QUANTIQ Technology Ltd (“QUANTIQ”, or the “Company”), a leading Microsoft Dynamics consulting and digital services firm, today publishes its pre-audited financial results for 2021.
The Company continued its strong recent growth trajectory delivering 31% year-on-year revenue growth to £31.1m ($42m) with an operating income of £3.3m ($4.4m) and adjusted* earnings of £3.6m ($4.96m).
The business is split into two divisions of Professional Services and Managed Services with the smaller Managed Services division showing accelerated growth of 42% for the year. Across both divisions, the company reported engaging on 445 client projects during the year with a total of 97 new clients joining QUANTIQ through the period. SAAS software growth continued at 76% which more than offset the continued decline in perpetual software licensing.
Teammate headcount increased by over 50 heads to 270 heads with over 25 open positions at the end of the year. In addition, the firm expanded its technical engineering capabilities with the opening of a dedicated engineering centre in Hyderabad, India to add to the existing offshore Managed Services Hub in Manila, Philippines.
*adjusted earnings excludes certain non-operating costs and includes additional income streams.
Stuart Fenton, CEO & Founder, commented:
“Our strong performance in 2020 is in line with our original plan despite the COVID-19 pandemic. At the outset of COVID, we took a bold decision that the crisis would lead to greater market investments in cloud technology including business applications and decided to invest across the business in sales, marketing and increase delivery resources.
Our pipeline of business grew over 30% to well over £100m during the year and the business wins through 2020 will contribute to continued strong growth in 2021.”
“Our focus for the next three years is to continue to take market share through a combination of increasing skills, capability and capacity across more industry and geographic segments. We expect that a major focus on Managed Services, our nascent Azure practice and opening a USA operation in combination with many other tactics that are well executed should drive our revenue towards our next financial and market position goals.”
QUANTIQ are a specialist IT consulting firm headquartered in the City of London and supporting clients worldwide to digitally transform, creating seamless connected enterprises with unique IP & Microsoft Dynamics 365, Azure and Power Platform Technology. QUANTIQ is a privately owned company and are Microsoft Gold Partners and multi-year winners of the prestigious Microsoft Inner Circle.
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