Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

IFS continues to deliver strong 2022 financial performance with Q3 Year-to-Date results


News provided by

IFS

27 Oct, 2022, 08:23 GMT

Share this article

Share toX

Share this article

Share toX

  • Annual Recurring Revenue increases by 38% YoY
  • Cloud Revenue grows at 104% Vs. 2021 Q3 YTD
  • Third consecutive high performance quarter cements IFS leadership in core capabilities

LONDON, Oct. 27, 2022 /PRNewswire/ -- IFS, the global cloud enterprise software company, today reported its financial results for Q3 year-to-date (YTD) ending September 30, 2022. IFS posted strong financial performance with Annual Recurring Revenue (ARR) increasing by 38 percent year on year (YOY) and cloud revenue growth of 104 percent Vs. 2021 Q3 YTD. The company attributes its continued success to its dogmatic commitment to delivering a frictionless experience to its customers and a product strategy that meets real market demand, and provides the capabilities business leaders are looking for today to mitigate risk, and tomorrow, to future proof their business.

IFS also posted an increase in Software revenue of 26 percent versus Q3 YTD 2021: the increase in bookings has been driven by a combination of new customer names accounting for 44 percent of new ACV, and existing customers upgrading to IFS Cloud at an increased pace with the IFS Momentum upgrade program.  

The company's ability to differentiate by providing embedded innovation such as AI, ML, IoT, automation and advanced analytics across ERP, EAM, and FSM in a composable way means companies have a real choice when it comes to their business and digital transformation requirements and the pace at which they execute on this, without having to compromise on functionality; a value proposition that is resonating in the company's target industries.    

These differentiators have also earned IFS unrivaled recognition by leading analyst firms such as IDC, Gartner and Forrester over the years. More recently, IFS was listed as #1, per Gartner's "Global EAM Market Share 2021 by Revenue" report, and named the "Leader for the seventh consecutive time in 2022 Gartner Magic Quadrant for Field Service Management. The company was also named a "Leader in IDC MarketScape for Worldwide SaaS and Cloud-Enabled Manufacturing ERP" for 2022.  

Additionally, IFS has also been named as a Gartner Peer Insight Customers' Choice for EAM in 2022. These accolades speak to IFS's dedication in supporting its customers to meet their business goals and that IFS Cloud and IFS's Success Services are more relevant than ever.

Darren Roos, CEO of IFS, commented: "Our compelling proposition and genuine commitment to our customers continues to serve us well in driving growth for IFS. We are uniquely positioned in the industry with the best asset and service management capabilities". Roos continued: "We are seeing more and more companies recognize that the ability to orchestrate their assets, people and customers on a single, composable platform across EAM, FSM & ERP helps them to deliver amazing moments of service to their customers. This is a real differentiator."  Roos concluded: "I am grateful to our extended team of partners and employees for staying true to our pledge to add value and continue to innovate and deliver our best to all our customers when it matters most to them."

Constance Minc, CFO of IFS, said: "Our performance over the first nine months of this year has been exceptional. ARR has increased by 38 percent compared to Q3 2021. This demonstrates the health and resilience of our business." Minc added: "Over the last few years, we have transformed our revenue model, which is not a simple undertaking but underpinned by IFS Cloud's leading capabilities, our teams have stayed focused on delivering quarter after quarter, and these latest results are evidence of this."

Following the acquisition of Ultimo, now rebranded IFS Ultimo, IFS has further extended its share of the EAM market. IFS Ultimo is a flexible and easily deployed EAM solution that caters for companies looking for a best-of-breed, point solution for asset management.

Also, in Q3, IFS was proud to announce the winners of its Change for Good Awards 2022. Now in their second year, the awards recognize and celebrate sustainability excellence throughout the IFS ecosystem. Winners included Volvo Group, Technogroup, Cape Air, and Tucson Electric Power. The initiative was complemented in October with new ESG functionality launched in the latest release of IFS Cloud.

Financial and Operational Highlights for Q3 2022 YTD (January-September 2022):

  • Annual Recurring Revenue SEK 5.0bn, an increase of 38 percent YoY
  • Q3 YTD 2022 Software Revenue SEK 4.5bn, an increase of 26 percent versus Q3 YTD 2021
  • Q3 YTD 2022 Recurring Revenue SEK4.2bn, an increase of 46 percent versus Q3 YTD 2021
  • Q3 YTD 2022 Cloud Revenue increased by 104 percent versus Q3 YTD 2021

*Note: all figures are based in Swedish Krona and reported in constant currency. Cloud includes all of IFS Cloud (including IFS Cloud Remote) and cloud deployment of other products.

In line with WorkWave establishing itself as a standalone business at the end of Q2 2021, the performance reported above excludes WorkWave's contribution to the IFS Group.

Learn more at www.ifs.com/corp/company/financial-results   

About IFS:

IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build, and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers-at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of 5,000 employees every day live our values of agility, trustworthiness and collaboration in how we support our 10,000+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.

Contact information

EUROPE / MEA / APJ: Adam Gillbe

IFS, Director of Corporate & Executive Communications

Email: press@ifs.com

Phone: +44 7775 114 856

NORTH AMERICA / CANADA / LATAM: Mairi Morgan

IFS, Director of Corporate & Executive Communications

Email: press@ifs.com

Phone: +1 520 396 2155

The following files are available for download:

https://news.cision.com/ifs/i/ifs-social-earnings-q3ytd-930x423-2022-002,c3106474

IFS Social Earnings-Q3YTD 930x423 2022 002

https://mb.cision.com/Public/855/3655883/86a8010a63d3d8d6.pdf

Q3 FR 2022

Modal title

Also from this source

IFS acquires TheLoops to launch the Industrial AI workforce - the first agent platform built for mission critical operations

IFS, the leading provider of enterprise cloud and Industrial AI software, today announced the acquisition of TheLoops, a cutting-edge innovator in...

IFS Appoints Industry Veteran Mark Buongiorno as President of Aerospace & Defense, to Accelerate Strategic Growth

IFS, the leading provider of enterprise cloud and Industrial AI software, today announced the appointment of Mark Buongiorno as President, Aerospace...

More Releases From This Source

Explore

Computer & Electronics

Computer & Electronics

Cloud Computing/Internet of Things

Cloud Computing/Internet of Things

Computer Software

Computer Software

Computer Software

Computer Software

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.