Continued growth and profit – ambitious growth ambition announced

The fiscal year 2018 showed continued growth and profitability, FastPassCorp announced today to its shareholders. Some of the headlines are:

  • Recurrent revenue 85% of total revenue
  • continued growth in new large managed service providers using FastPass
  • continued growth in revenue from managed service provider according to strategy
  • Positive cash flow and the net result

Future ambition announced:

The company wants to add more value to customers and partners through new offerings in authentication, credentials, and trust, helping them to reduce the risks for data breaches. For the financial targets this means:

  • revenue to grow 150% for 2021 compared to 2018
  • Operating margin in 2021: 30-40%

Growth initiatives have been decided and are being executed on:

  • A new product offering to be developed: More programmers to be hired
  • Expand sales and presales to win more service providers and direct customers: Hiring process initiated
  • Improve WEB and e-mail marketing: New WEB manger from January 2019

The full corporate statement is available in Danish here FirstNorth Nasdaq

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