• 45% increase in Annualised Recurring Revenue to $49.8m
• 42% growth in paid users to 1.65m
• Maintained profitability and positive cash flow

Dropsuite's FY 2024 results highlight the company's highly scalable and sustainable business model, delivering a strong uplift in recurring revenue whilst maintaining positive cashflow and profitability. The company's continued momentum is driven by an environment of increasing cyber-attacks, the scalability of its product suite, its partner-led business model, and excellent client service. Dropsuite saw a 45% increase in Annualised Recurring Revenue to $49.8 million, and a 42% growth in paid users to 1.65 million. The company's partner-led business model has been a key driver of this growth, allowing for better scaling across sales, support and marketing, and a diversified revenue base. Dropsuite continues to invest in R&D, product development, and global expansion to ensure its solutions and customer service remain best-in-class. The company was recognized as the Microsoft 365 Backup Leader by InfoTech Software Reviews for the fourth year in a row. Dropsuite ended the year with $28.6 million in cash and no debt, providing flexibility to continue investing for growth.

Dropsuite remains confident in its product and service offerings, and looks to continually update and improve them. The company's advantage in the market can be attributed to its seamless partner integration, exceptional user experience, cutting-edge cloud platform, and highly responsive team. With a strong partner network, ample opportunity for growth, and a leading solution, Dropsuite anticipates the partner-led business model will continue to drive scalable and profitable growth.