orderbird AG announces investment in Payment Facilitation to enable innovation for customers and even greater growth
Annual Recurring Revenue grew by 26% in 2020 while Generating Positive Operating Cash Flow
Berlin, March 18th, 2021 – orderbird AG, Europe’s leading provider of cloud-based point-of-sale systems with integrated payments, announced today the audited financial results for its 2020 fiscal year, stating that it grew Annual Recurring Revenue (ARR) more than 26% over the prior fiscal year while also generating EUR 1.8 million in operating cash flow.
“Last year brought unprecedented challenges for gastronomers and retailers as well as the companies that serve them,” said Mark Schoen, CEO of orderbird. “But businesses have been accelerating their adoption of our modern digital solutions and cashless-payment services in order to adapt and grow in this difficult environment.”
Despite restaurants across orderbird’s main markets of Germany, Switzerland, Austria, and France being required to limit their operations to delivery and takeaway during the Spring coronavirus lockdown, monthly card-payments volume processed through orderbird’s payment solution grew 94% from September 2019 to September 2020. Consumers and restaurateurs are both seeing benefits from the acceleration of card usage in the hospitality sector, including greater convenience, speed and hygiene -- especially when integrated with a point-of-sale system specially built for the needs of food service.
orderbird’s ARR, which consists of Software-as-a-Service (SaaS), payment-processing commissions and recurring contracts with partners for market data, totaled more than EUR 10 million for fiscal 2020, which spanned from October 2019 to September 2020. The business finished the 12-month period with an ARR run rate of EUR 11.4 million. While sustaining this growth and expansion of its business, orderbird also achieved an EBITDA of EUR 0.5 million, the company’s first profitable year by this measure since its founding in 2011. Cash flow from operating activities was EUR 1.8 million, which was a further economic validation of orderbird’s powerful SaaS business model.
“Sustainability is a main driver of our operational decisions,” added Schoen. “When businesses choose to work with orderbird, they expect us to serve their needs for years to come, providing excellent service and investing in innovation that is highly relevant to their businesses.”
Because of this need for market-focused innovation, orderbird invested more than EUR 1.1 million of its operating cash flow back into new technologies and has decided to increase its level of investment into research and development this year to become a Payment Facilitator. Being licensed as a Payment Facilitator and financial institution will give orderbird flexibility to tailor its products and processes around card-acceptance solutions and other financial services to best address the needs of independent gastronomers and retailers.
“We are committed to bringing the best possible payments experience to our customers and their guests,” said Schoen. “Trends in the market tell us that consumer spending is higher and more frequent when payment is faster and more convenient. This is part of our mission to make independent restaurants and retailers more successful.”
orderbird plans to launch its first Payment Facilitator-enabled financial services early next year.
About orderbird AG
orderbird (www.orderbird.com) offers intuitive software solutions and additional services for independent restaurateurs and SMBs in Germany, Austria, Switzerland and France. The company has more than 15,000 active Software-as-a-Service (SaaS) licenses in use and is thus the leading provider of cloud-based point-of-sale systems with integrated payments in Europe. With orderbird PRO, Europe's leading iPad POS system in the hospitality industry, restaurants, cafés and bars can easily and intuitively take mobile orders, flexibly invoice and generate tax compliant reports with one click. With the new family member MINI by orderbird, orderbird is expanding its range of integrated POS solutions to include a mobile all-in-one cash register. The smart Android solution combines POS software, card reader, receipt printer and barcode scanner in one device and fulfills all requirements of the KassenSichV. orderbird AG was founded in 2011 and employs more than 110 people in Berlin and Vienna. Investors include METRO AG, ALSTIN, Digital+ Partners und Concardis GmbH.