Recurly sees pay-as-you-go subscription models continuing to accelerate
Recurly sees no end in sight for pay-as-you-go subscription models. See our press release below.
Recurly to Exceed $10 Billion in Transaction Payment Volume as Pay-As-You-Go Subscription Models Accelerate
Consumer and Business Behavioral Shifts Unlock New Revenue Streams for Subscription Companies; Recurly Now Cash-Flow Positive
SAN FRANCISCO, Nov. 17, 2021 -- Recurly, Inc., the leading subscription management and billing platform, today announced that it will exceed $10 billion in annualized transaction payment volume this year, representing a 40% increase over the prior year. This milestone comes on the heels of Accel KKR (AKKR) taking a majority stake in the company. Additionally, Recurly announced that it is cash-flow and EBITDA positive, with year-over-year net revenues up 37% and gross margins of 74%.
Recurly enables subscription providers to build relationships with their subscribers in a way that results in optimal growth. Consumers are increasingly interested in paying only for what they’ve consumed, and Recurly predicts massive adoption of this standard across the B2B and B2C spectrum. Unlike other enterprise subscription billing platforms that require massive efforts to implement and tend to manage contractual terms, Recurly is purpose-built to capitalize on this more fluid “pay-as-you-go” trend, with its customers now able to deliver an even more convenient and frictionless payment experience to their subscribers – resulting in growth in new customer segments, international markets, and monetization opportunities.
Continue reading the full press release.