The company diversifies its offerings to meet market demands,
delivering on its ambitious growth strategy and making positive
inroads into the 2024 financial year
NEW
YORK, April 30, 2024 /PRNewswire-PRWeb/
-- FADEL®, innovator of brand compliance and rights
and royalty management software, has today announced its audited
full-year results for the year ended December 31, 2023, with revenue up 10% on FY22 to
$14.5 million and recurring revenue
up 31% on FY22 to $11.4 million.
At the time of our IPO in April 2023, we presented an ambitious growth
strategy to the market, based around investing in our technology
and people. I am extremely proud to report that we have delivered
on that in our first financial year as a listed company.
FADEL has made great strides during the year. In addition to its
successful IPO, the Company has achieved exceptional client wins of
powerhouse net-new clients including PepsiCo, Kimberly-Clark,
Sanofi, and Philip Morris. FADEL has also made an encouraging start
to the 2024 financial year, evidenced by the strong bookings in Q1
2024 and the pipeline momentum with leading consumer brands,
publishers, and content owners across Europe, the US, and globally in Q2 2024.
"At the time of our IPO in April
2023, we presented an ambitious growth strategy to the
market, based around investing in our technology and people,"
commented Founder and CEO Tarek
Fadel. "I am extremely proud to report that we have
delivered on that in our first financial year as a listed
company."
FADEL has expanded its product portfolio – under Brand Vision
and IPM Suite – to meet the needs of existing clients and
strategically penetrate new territories and markets. About these
investments, Tarek noted "During 2023, we achieved exceptional
client wins in the Brand Vision space. These successes not only
validate our investments in the Brand Vision product and our
go-to-market strategy but also propelled a 31% growth in total
recurring revenue. This substantial growth contributed to our
overall revenue increase of 10% year on year. Additionally, the
launch of LicenSee (under IPM Suite) marks an exciting milestone
for our company. With its launch, we are poised to capitalise on a
burgeoning mid-market opportunity, further solidifying our position
as a leader in the industry."
FADEL is also pleased to confirm that the Annual Report and
Accounts for the year ended December 31,
2023, has been posted to shareholders and can be found on
the Company's website at https://investors.fadel.com/.
About FADEL
FADEL®, innovator of brand compliance, rights
management, and royalty billing software, has worked with some of
the biggest names in media, life sciences, fast-moving consumer
goods, publishing, high-tech, and advertising. By automating talent
and content rights management across videos, photos, ads, music,
products, and brands, and streamlining the processing of licensing
royalties, FADEL's cloud-based solutions have empowered businesses
to significantly maximize revenues and increase process
efficiencies. Founded in 2003, FADEL is headquartered in
New York City, and also operates
offices in Los Angeles,
London, Paris, and Lebanon. For more information, visit
fadel.com.
Media Contact
Devi Gupta, FADEL, 6467366083,
dgupta@fadel.com, https://fadel.com/
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SOURCE FADEL