The revenue of New Cloud Technologies (NOT), the developer of the MyOffice software, at the end of 2023 decreased by 43.8% compared to the previous year, reaching approximately 1.9 billion rubles. writes about this RBC Referring to the company’s reporting.
The company suffered a net loss of 5.2 billion rubles instead of last year’s profit of 386.5 million rubles. Before this, NOT had shown a loss for several years but managed to make a net profit in 2022. In the same year, revenue increased by 295%, reaching 3.3 billion rubles.
NOT’s activity is to develop office solutions. The company was founded in 2013 and its share in Kaspersky Lab’s capital was 61.05% in 2019. HOT products include Text, Documents, Presentation, Mail, Table, Calendar, Contacts platforms, Mailion enterprise mail, and Squadus digital workspace.
At the beginning of March 2024, NOT products were used by 11.1 thousand organizations, including such large companies as VTB, Rosgvardia, Russian Post, Russian Railways and others.
According to a company representative, the decline in NOTE rates is due to several factors. He noted that the import substitution rate in office software has generally decreased, leading to an 18.1 percent decrease in purchases in 2023 compared to the previous period.
The lack of funds for purchasing software from government and semi-government organizations also had a negative impact. The company hopes to budget for import substitution of Russian office software in 2024. A representative of NOT noted positive sales dynamics in the first quarter of 2024, pointing to a significant increase in sales of MyOffice licenses and an increase in the average invoice for transactions.
Previously Mishustin in the name Avoid excessive optimism.