- Result of organic sales growth, new internal
contracted-sales initiatives and recent tuck-in
acquisitions
TORONTO, July 18,
2023 /CNW/ - Dye & Durham Limited (TSX: DND)
("Dye & Durham" or the "Company"), one of the world's largest
providers of cloud-based legal practice management software
designed to make managing a law firm, organizing cases, and
collaborating with clients easy, today announced it has surpassed
$100 million in annual recurring
revenue ("ARR"), a key marker of scale which positions the company
strongly for future growth.
Dye & Durham reached the ARR milestone this week. This
represents an increase of $33 million
in the company's ARR since the end of March and is the result of a
mixture of strong demand for the company's software products, new
contracted-sales initiatives and the company's recent tuck-in
acquisitions in the legal practice management market. Dye &
Durham has a stated goal of driving its ARR to more than 50% of
total revenue by the end of fiscal 2026, while growing its annual
adjusted EBITDA by 20-25% annually.
"Today is a major achievement for Dye & Durham and it's
especially impressive considering that our ARR stood at only
$9 million in the first quarter of
fiscal 2022," said Dye & Durham CEO Matthew Proud. "We are focused on shifting our
customer relationships from a single product-driven solution
approach to a holistically consultative approach, building deeper
and lasting partnerships to help legal professionals achieve more
growth with less effort. This is a clear testament to the hard
work, passion and dedication of our team and I'm excited to see us
build on this momentum."
About Dye & Durham
Dye & Durham Limited provides premiere practice management
solutions empowering legal professionals every day, delivers vital
data insights to support critical corporate transactions and
enables the essential payments infrastructure trusted by government
and financial institutions. The company has operations in
Canada, the United Kingdom, Ireland, Australia and South
Africa. Additional information can be found at
www.dyedurham.com.
SOURCE Dye & Durham Limited