Presenting the icetana Limited (ASX: ICE) 2021 Annual Report provides an opportunity to reflect on an extraordinary period for our company, and the world, since listing in December 2019. Like many companies our operations and plans for FY2021 were significantly impacted by the global Coronavirus pandemic, as were customers and partners in our key verticals.
In what has been a very difficult environment and market over the last 12 months, I want to recognize the focus and resourcefulness of management and the resilience of our employees that has enabled us to continue the company’s progress over the period.
Revenues were up 26% to $1.487m, with receipts from customers up to $2.1m for the year, and annualized recurring revenue (ARR) grew 88% to $1.3m, as we continue to shift the focus from perpetual licensing to a recurring revenue model. Renewals remained strong with 92% customer retention for the year, including significant expansions with several of our long-term customers.
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