Increase in SaaS Revenue
SaaS revenue reached 73% of recurring revenue, up from 68% the previous year. SaaS ARR increased by 15% year-over-year.
Successful Partner Strategy
48% of ARR bookings were partner-driven, with contractual changes to reduce the time between booking and SaaS revenue recognition.
Microsoft Partnership Advancement
Sylogist elevated its partnership status with Microsoft to a managed software development company, increasing visibility and collaboration opportunities.
Financial Health and Cash Flow
The company ended Q3 with $14.1 million in cash and added approximately $10 million in free cash flow this quarter.