Jul 16, 2021
Flowscape reports strong growth in the UK market as offices reopens
The UK market is now slowly returning to normal after months of shutdown. As a result, Flowscape has seen a significant increase in order inflow in the UK. During Q2 order revenue reached 110, 000 GBP (SEK 1,3 MSEK) with yearly recurring revenue of 80,000 GDP (SEK 960,000)
"It is clear that the interest in smart office solutions has increased. We see many new requests for our solutions when a new vision of office work has begun to emerge. The UK has previously been very traditional regarding its office environment, and this is the first time we are seeing a mainstream movement towards flexible workplaces. As a result, there is no longer a need for large office spaces with permanent desks. Our solutions are often highlighted as an important step in making flexible workplaces possible.” Says Gary Bernstein, Country Director UK at Flowscape.
Following the announcement of UK: s Reopening plans, Flowscape has seen a large increase in the number of orders and the general order value in the UK, which aligns with trends in other markets. Due to the increased interest in “software as a service” solution, Flowscape has seen a noticeable increase in yearly recurring license revenue.
"The increase in license revenues follows Flowscapes overall strategy to increase the yearly recurring revenues when providing a software via subscriptions. Licenses are our main revenue driver over time and make us more resilient to market fluctuations as income becomes more stable and secure over time. We are now positive that our strategy works and will give us improved margins on each individual sale.” Says Peter Reigo, CEO, and founder of Flowscape.