BEVERLY HILLS, Calif.--(BUSINESS WIRE)--SmartFlow Compliance Solutions (SCS), a leading software anti-piracy and cybersecurity company, today announced record sales for the 2016 fiscal year with strong growth in revenues, bookings and backlog. Year-over-year sales growth was 73 percent.
These bookings included both major new customers and significantly larger renewals with existing customers, who use SmartFlow to identify unlicensed versions of their software and track usage data that can be leveraged to take necessary corrective or legal action against intellectual property (IP) theft and copyright infringement.
In the quarter, the company began shipping SmartFlow Enterprise 2016, its flagship product for large companies that want to start or enhance an in-house compliance program. The company also offers SmartFlow Professional 2016, an entry-level compliance management system for small and medium-sized software companies. Sales of the SmartFlow Enterprise and SmartFlow Professional software as a service (SaaS) licenses accounted for 63 percent of 2016 revenues, with 36 percent of the revenue coming from licenses for the proprietary SmartFlow Software Development Kit (SDK), which includes the company’s enhanced Tamper Detection Kit (TDK).
Since its launch in January 2014, the number of clients deploying SmartFlow’s technology has expanded significantly. In 2016 the SmartFlow customer base expanded by over 78 percent with SmartFlow technologies currently protecting approximately $10 billion in licensed software applications worldwide. SmartFlow has shipped its SDK in over 500 software products, empowering licensors to identify IP theft and establish an effective in-house license compliance program to recover revenues lost to piracy and other unauthorized use.
“Software piracy is a global problem and with 39 percent of software installed globally in 2016 without proper licensing, this issue is not going away,” said Ted Miracco, CEO of SmartFlow. “We’re excited about the huge demand SCS has experienced in 2016 as software companies understand the urgent need to combat software piracy. We look forward to helping many more software companies establish compliance programs in 2017.”
“Our outstanding growth numbers for 2016 reflect the SCS commitment to developing cutting edge technologies and delivering exceptional customer service,” said John Hoang, CFO. “Major new customers are in the pipeline for 2017 and we are well positioned for continued growth and financial stability, enabling the company to invest heavily in R&D to enhance software security and reduce the impact of malware.”
About SmartFlow Compliance Solutions
SmartFlow Compliance Solutions (SCS) was created to help software vendors combat piracy and under compliance with automated tools that minimize the resources needed to identify software abuse and to generate revenue recovery & sales. Over a decade in development, the company’s innovative SmartFlow identification and analysis software represents the best practices of license compliance programs within the world’s leading companies, providing clients with insight on how incompliance and piracy are affecting their business, customers and profits. For more information, connect with SmartFlow on: LinkedIn, or follow us on Twitter @SmartFlow_CS
SmartFlow Professional 2016, SmartFlow Enterprise 2016, SmartFlow SDK and SmartFlowCQ are trademarks of SmartFlow Compliance Solutions, Ltd. All other trademarks are the rights of their owners.