Spirit Technology Solutions has continued its growth momentum as large contract wins and demand for its SMB products have helped its revenue increase three-fold.
In the year ended 30 June 2021, Spirit reported revenue of $104.5 million, up 200 percent from $34.9 million in the previous financial year. Underlying EBITDA also grew at a similar rate of 208 percent, reporting $11.5 million during the period.
Recurring revenue also increased to $27.2 million, up 33 percent from the first half. Spirit also reported sales total contract value for Q4 2021, saying it was a record $31.8 million.
“We continue to execute to strategy with these very strong results. Organic demand for the product set across data, cyber, managed services, voice and importantly Spirit’s bundled offering continues to be very positive,” Spirit managing director Sol Lukatsky said.
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