CAST announces an Operating Margin above 10%, target of
|Financial products||0.5||(2.4)||+2.9||n / A|
|Net revenue||4.2||0.1||+4.1||n / A|
NEW YORK and PARIS, April 12, 2022 (GLOBE NEWSWIRE) — CAST today announced its audited financial results for fiscal year 2021. Operating profit rose sharply (+58%) to 5.1 M €, i.e. 11.4% of its 2021 turnover.
Most of the financial result is due to foreign exchange gains. The tax charge for 2021 amounts to €1.4 million and the net profit for the year to €4.2 million. The financial structure is solid with €16.6 million in available cash at the end of March vs €14.8 million at the end of December 2021.
The strength of EBIT is the result of a low-cost operating model, but above all the transformation plan initiated five years ago – investments in R&D, positioning of automated software intelligence for use cases with high growth (M&A, Migration to the Cloud, immediate productivity gains, Open Source risk management), development of SaaS subscriptions and limited-term recurring licenses, and development of partnerships with Cloud publishers, strategy consulting firms and system integrators of all sizes.
Based on these solid fundamentals and the market opportunity, CAST intends to pursue its strategy of transitioning to an increasingly recurring revenue and market penetration model by relying on its solid ecosystem of partners. CAST aims to double the growth of its average turnover over the next 5 years and to impose Software Intelligence as a must for anyone looking to regain control of their software assets.
The fiscal year 2022 budget includes significant investments to accelerate growth, while remaining profitable.
CAST is the leader in the software intelligence category. CAST technology can see inside custom applications with MRI-like precision, automatically generating insights into their inner workings: composition, architecture, transaction flow, cloud readiness, structural defects, legal risks, and of security. This becomes essential for faster cloud modernization, increasing software engineering speed and efficiency, better open source risk control, and accurate technical due diligence. CAST operates worldwide with offices in North America, Europe, India and China. Visit www.castsoftware.com.