hSenidBiz surpasses $4 m revenue segment
View(s):hSenid Business Solutions PLC (hSenidBiz), in its latest financial results for the third quarter of FY2025, has achieved a key milestone of US$4 million in exit-Annualised Recurring Revenue (ARR).
This marks a significant step in hSenidBiz’s journey as a leading HR technology provider in Emerging Markets across South Asia, Southeast Asia, Middle East and Africa. The PeoplesHR Cloud business continued to be the focus and primary engine of recurring revenue expansion, the company said in a media release.
Commenting on this achievement, Founder and Chairman Dinesh Saparamadu stated, “Our focus on expanding recurring revenue continues to strengthen our long-term value creation for all stakeholders. This milestone is a testament to our efforts in simplifying complex HR processes globally and helping organisations realise the true potential of its people.”
The company reported total revenue of Rs.431.3 million for the quarter, reflecting a 4 per cent growth in USD constant currency terms. However, in LKR terms, revenue declined by 5 per cent year-over-year, primarily due to the continued appreciation of the LKR against the USD. Despite this, the company’s focus on strengthening recurring revenue remained evident, with recurring revenue accounting for 67 per cent of total revenue.
The PeoplesHR Cloud business continued to drive top-line performance, delivering a year-over-year growth of 10 per cent. Subscription revenues within this segment comprised 84 per cent of PeoplesHR Cloud’s total, marking a solid year-over-year growth of 20 percent.
New deal closures for the quarter amounted to $255,968, with 99 per cent attributed to the PeoplesHR Cloud business. As new deal volumes remain below expectations, hSenidBiz has intensified efforts over the past two quarters to enhance demand generation and maximise the deal pipeline, expecting improved results in the coming quarters.
Commenting on the company’s progress, CEO Sampath Jayasundara said, “Our strategic focus remains centred on strengthening our recurring revenue streams, particularly through PeoplesHR Cloud. As we deepen our presence across our focus markets, we remain confident in our ability to capitalise on emerging opportunities and sustain our growth momentum.”
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