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Thursday 22 July 2021

Geographic and partner growth at dotdigital

dotdigital logoThe signals from dotdigital Group’s full year trading up date for the year to 30 June 2021 are that revenue is expected to increase 23% to £58.1m, with adjusted EBITDA described as being “comfortably ahead” of expectations. 

The shift towards digital marketing during COVID-related restrictions played to the strengths of the marketing automation and customer engagement provider. The company benefitted during the first half  with the acceleration continuing through the second half as conditions started to normalise.

dotdigital is operating to three strategic goals: product innovation, geographic expansion and strategic partnerships with progress across all three. Recurring revenue from enhanced product functionality and upgrades increased by 31% to £18.9m and there was revenue growth in all key regions, including 23% in EMEA to £44.6m. With just 19% growth to $12.5m, the America’s lagged comparatively, while APAC was the star delivering 47% growth to $7.7m. 

The company derives part of its revenue from data connectors from strategic partners and revenue from this area expanded 14% to £25.5m underlining the importance of the partner network. Likewise, there was progress with its Magento and Shopify partners – revenue from Magento customers reached £13m, (up 11%), far exceeding the £2.1m (79% increase) from Shopify, and the £0.4m (up 249%) from BigCommerce, although joint go-to-market and marketing initiatives are being developed. Revenue from a Microsoft Dynamics connector is also taking off. Currently at £4.3m, the company believes Dynamics represents a significant opportunity. dotdigital’s offerings are attuned to market and consumer sentiment and with its partner network is has opportunity to continue is expansion.

Posted by: Angela Eager at 09:19

Tags: software   tradingupdate  

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