Sidetrade sets new records in H1 2024
Sidetrade, a leader in AI-powered Order-to-Cash solutions, delivered standout results in the first half of 2024. Total bookings reached €7.42 million in New Annual Contract Value (ACV), up 25% from the same period a year ago. It’s a clear step up—and a strong base for the months ahead.
Revenue and subscriptions keep climbing
Revenue for H1 2024 rose to €24.8 million, a 19% year-over-year increase. Within that, SaaS subscriptions grew 18% to €20.5 million. The mix points to durable, recurring growth backed by a focused go-to-market motion.
Momentum across regions, led by the U.S.
Demand in the United States accelerated, with revenue up 40% year over year. The U.S. now represents 32% of total revenue. It also contributed about 45% of total bookings, signaling deeper traction in a key growth market.
Margins widen and profits rise
Sidetrade reported an operating margin of 15%, up from 12% in the first half of 2023—an increase of 44% year over year. Net profit came in at €3.6 million, up 64% versus last year. Together, these gains show a company leaning into efficiency while still growing.
AI investment, product depth, and scale
In H1 2024, Sidetrade doubled down on artificial intelligence, enhancing its Aimie product with Generative AI capabilities. Gross margin increased to 80% of revenue, pointing to effective cost discipline and the benefits of a more intelligent product stack.
Cash flow funding growth, not the other way around
Operating cash flow reached €6.2 million in H1 2024. That strength enabled Sidetrade to fully self-finance the SHS Viveon AG acquisition while maintaining a solid cash position of €24 million. Growth is being built on internally generated cash, not stretch financing.
Scaling in Europe, aiming higher by 2026
The acquisition of SHS Viveon AG is designed to deepen Sidetrade’s footprint in the DACH region. Leadership’s target remains clear: reach $100 million in revenue by 2026. Ambitious, yes—yet grounded in the momentum now in hand.
Frequently Asked Questions
What were the headline results for H1 2024?
Sidetrade reported revenue of €24.8 million, up 19% year over year, and total bookings of €7.42 million in new ACV, up 25%. Net profit reached €3.6 million, a 64% increase from last year.
How did the U.S. contribute to growth?
U.S. revenue grew 40% year over year. The U.S. now accounts for 32% of total revenue and approximately 45% of total bookings.
What do the margin and profit improvements show?
The operating margin rose to 15% (from 12% in H1 2023), a 44% year-over-year increase, and gross margin reached 80% of revenue. Net profit increased to €3.6 million, up 64% year over year.
How is AI—particularly Aimie—shaping the product?
Sidetrade continued to invest in AI, adding Generative AI capabilities to Aimie. These enhancements support operational efficiency and strengthen the value delivered to customers.
What’s the plan for expansion and funding?
Operating cash flow of €6.2 million in H1 2024 helped fully self-finance the SHS Viveon AG acquisition, with cash at €24 million. Sidetrade is using this platform to grow in the DACH region and is targeting $100 million in revenue by 2026.
