Questback Group published their Q1 2022 trading update Tuesday 3ed of May. The company reports overall strong key operational metrices, including 8% Annual Recurring Revenue growth (ARR) and a solid Net Retention Rate of 103%.
Growth in New Annual Recurring Revenue of 46%, growth of Sales to Existing Customers by 54 % and growth of Sales to New Customers by 20% compared to the corresponding period last year. Net retention rate, reflecting Questback’s ability to both retain and grow existing customer base, was 103% (91% in Q1 2021). Overall, y/y growth in total ARR per end of Q1 2022 was 8%, up from negative 3% per end of Q1 2021.
Questback CEO, Saeid Mirzaie comments; “Our work towards growth in our core business that started for 1,5 year ago is progressing according to plan, and Q1 really showed us the strength of our team’s dedication and execution. We are especially proud to have reached the milestone of a net retention rate of above 100% for the quarter, reflecting our customers’ trust in us. Going into Q2 we have continued strong belief in our plan and ability to execute on it, as shown by the strongest year-over-year ARR growth in more than a decade.”
