Gary Read, CEO of Nimsoft, hints in his corporate blog that the software company is having another strong quarter. Of course: Things can certainly change over the next few weeks. But so far, so good according to Read’s blog.
In a December 5 entry, Read wrote:
“We are well and truly in to our end of quarter at the moment, which also happens to be our end of year — so doubly important. So far, things are gong well for the quarter — we’re happy with where we are at. A big law firm moved to Nimsoft after struggling with a larger vendor for the last year, a major network service provider also moved to Nimsoft, multiple more Managed Service Providers, a CableTV company and many, many others.”
Tricky Times
Read’s thoughts come at a key time in the managed services market. I’m hearing more and more reports from small MSPs that are struggling to retain and/or grow their recurring revenue base of recurring revenue.
While managed services remains a healthy opportunity for VARs, MSPmentor is careful not to hype the overall opportunities awaiting solutions providers. Despite the upside of recurring revenue engagements, MSPs must also remember that many small businesses are trimming back staff and the number of seats they need managed.
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In this economy I will take all the “clues” I can get from executives. It’s a strange time. No room for empty hype in this economy but still good to hear upbeat news from an executive helping to shape this industry.
Have any other msp-oriented companies reported financial results recently? If so what were the results and the general company moods?
Carl: Generally speaking, most MSP software companies are privately held and don’t fully disclose financial results.
From time to time you will see some press releases offering top-line information like revenue percentage growth, but net income data is hard to come by.
You can typically count on Nimsoft to issue that type of quarterly press release. Kaseya does so as well from time to time.
But in these challenging economic times, I suspect most MSP software providers will say less about their finances because they are playing things very close to the vest.