Business
Dye & Durham surpasses milestone of $100 million in annual recurring revenue
Dye & Durham surpasses milestone of $100 million in annual recurring revenue Dye &a...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n \n \n \n Dye & Durham surpasses milestone of $100 million in annual recurring revenue\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Dye & Durham surpasses milestone of $100 million in annual recurring revenue\n \n \n Canada NewsWire\n \n \n \n \n \n \n Result of organic sales growth, new internal contracted-sales initiatives and recent tuck-in acquisitions\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n July 18, 2023\n \n \n /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\n \n $100 million\n \n in annual recurring revenue (\"ARR\"), a key marker of scale which positions the company strongly for future growth.\n \n \n Dye & Durham reached the ARR milestone this week. This represents an increase of\n \n $33 million\n \n 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.\n \n \n \"Today is a major achievement for Dye & Durham and it's especially impressive considering that our ARR stood at only\n \n $9 million\n \n in the first quarter of fiscal 2022,\" said Dye & Durham CEO\n \n Matthew Proud\n \n . \"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.\"\n \n \n \n About Dye & Durham\n \n \n \n Dye &...