WeDo Technologies Announces FY2018 Results

WASHINGTON, April 2, 2019 /PRNewswire/ -- WeDo Technologies - worldwide leader in revenue assurance and fraud management, continues to strengthen its market leadership in risk management software solutions following a successful FY2018, which included the acquisition of new customers, expanding its product portfolio and increasing its footprint across the globe and into new verticals.

FY2018 Financial Highlights include:

• Recurring revenue as percentage of total revenue remained stable at ~50%
• Orders increased to over €60 million – including 14% growth in managed services
• Order backlog was €42,8 million – a 9% growth vs 2017
• Strong year-on-year EBITA growth

FY2018 Operational Highlights include:

• Increased customer footprint with 12 new customers in Europe, MEA, North America, APAC and South America
• Further expanded its presence in telecom, while at the same time grew its global footprint in energy, retail, banking, insurance and healthcare
• Launched RAID 8.0 along with new product modules that feature AI, machine learning and advanced analytics capabilities
• Implemented new live installations of RAID.Cloud, its cloud-native SaaS solution  
• Announced an agreement with Amazon Web Services
• Recognized by Gartner as a Vendor to Watch in its CSP Fraud Management Report
• Awarded the Market Leadership Award for Financial Assurance by Frost & Sullivan

Rui Paiva, CEO of WeDo Technologies, commented:

"2018 was a standout year at WeDo across the board. Our focus on investing in our product portfolio and driving innovation has resonated with the world's leading communications, energy, retail, banking, insurance and healthcare service providers.

"I'm especially pleased to see the increasing momentum that our RAID.Cloud SaaS solution is gaining in the marketplace as it shows the growing acceptance of cloud-based offerings by CSPs. I would like to thank our customers and partners who place their trust in us every day to deliver on our promises. Also, I would like to thank the WeDo team across the globe who have been instrumental in ensuring customer success and reinforcing our market leadership position."

WeDo's risk management solutions, spanning fraud management, revenue assurance and business assurance, provide a comprehensive set of tools to support CSPs' digital transformation strategies as they prepare for 5G and IoT. In addition to providing machine learning and AI capabilities, the RAID Risk Management platform is an on-premise / cloud-based platform that provides CSPs and blue-chip service providers with unrivalled scalability and flexibility.

About WeDo Technologies 

Founded in 2001, WeDo Technologies is the market leader in Revenue Assurance and Fraud Management software solutions to Telecom, Media, and Technology organizations worldwide.

WeDo Technologies provides Risk Management and Business Management software as well as expert consulting and analytics across 105+ countries, through a network of 600+ highly skilled professionals present in Europe, US, Latin America, Africa, Middle East and Asia Pacific.

WeDo Technologies risk management solutions analyze large quantities of data allowing to monitor and control processes ensuring revenue protection and risk mitigation, while business management solutions enable the automation and optimization of numerous business processes, such as incentive compensation, collections, and roaming management.

With over 200 customers - including some of the world's leading blue chip organizations - WeDo Technologies has long been recognized as a constant innovator in assuring the success of its customers along a journey of continuous transformation.

WeDo Technologies. Know The Unknown.

www.wedotechnologies.com

Contacts

QUEXOR GROUP INC.
Barbara Henris
bhenris@quexor.com 
Mob: +1-(703)-470-9446

WeDo Technologies
Sara Machado - Head of Marketing Communications
sara.machado@wedotechnologies.com
Tel. +351-210-111-400