PM Financial Half-year 2020
Press Release: orderbird AG’s Annual Recurring Revenue Grew 24% during Time of Unprecedented Challenges
Restaurateurs’ response to the coronavirus crisis includes accelerated adoption of digital tools and cashless payments
Berlin -- September 3rd, 2020
orderbird AG, the Berlin-based technology company focused on making independent restaurants more successful, announced today its unaudited financial results for the first half of calendar year 2020, stating that it finished the period with an Annual Recurring Revenue (ARR) run rate of EUR 10 million with expectations to finish the year at an ARR run rate of EUR 12 million.
ARR, which consists of Software-as-a-Service (SaaS) subscriptions, payment-processing commissions, and recurring contracts with partners for market data, was up 24% over the first half of 2019 and amounted to more than EUR 4.8 million for the six-month period ending June 30th, 2020.
“This year has been an unprecedented time of difficulty and challenge for the hospitality sector,” said CEO Mark Schoen. “But before and after the coronavirus lockdown, restaurateurs have been accelerating their adoption of modern digital solutions in order to survive and grow in this stressful environment. With our solutions, they easily conform to new fiscal and tax laws, accept cashless payments, and drive efficiency in their operations.”
Restaurants across orderbird’s main markets of Germany, Switzerland, Austria, and France were required to severely reduce their operations from mid-March until late May or longer, which generally meant limitation to only takeaway and delivery options as well as reduced opening hours. “During the lockdown, we reduced fees for our software, shifted resources to a free consulting hotline, and overnight became completely virtual with our operations,” added Schoen.
orderbird’s technology and processes have adapted well to the new realities of remote work and social distancing. The company’s native cloud infrastructure dramatically reduces the hardware footprint deployed to a customer’s venue and can be supported by orderbird engineers from anywhere in the world. orderbird’s sales and support processes disrupted old assumptions of the industry a decade ago and continue to be highly effective with the expert use of phone and internet instead of costly, inefficient onsite visits.
In April, the company launched MINI by orderbird, a new Android solution combining point-of-sale, printer, card acceptance, and fiscal compliance in one mobile device. “Our vision is for small businesses to get the same advantages from technology and financial services as their larger competitors,” said Jakob Schreyer, Founder and Chief Strategy Officer at orderbird. “MINI by orderbird gives smaller gastronomers, retailers, and service providers a powerful tool that is affordable and easy to use. MINI by orderbird improves speed of service, grows average ticket sizes through contactless card payment, and makes small businesses’ bookkeeping so much easier than before.”
The company will publish its audited financial results after the close of its fiscal year, which ends on September 30th.
About orderbird AG
orderbird (www.orderbird.com) offers intuitive software solutions and additional services for independent restaurateurs. The company has more than 15,000 active Software as a Service (SaaS) licenses in use in Germany, Austria, Switzerland and France. With Europe's leading payment-led, cloud POS system, restaurants, cafés, bars, and clubs can easily comply with rapidly changing fiscal laws, take mobile orders, accept cashless payments and digitally connect with trusted suppliers. orderbird AG was founded in 2011 and employs more than 100 people in Berlin and Vienna. Investors include Digital+ Partners, METRO Group, ALSTIN and Concardis GmbH.
orderbird AG | Ritterstraße 12-14, Aufg. 3 D-10969 Berlin, Germany
Press Contact: Laika Berlin