Monday, August 27

SugarCRM Revenue Doubles

By The VAR Guy 2 comments

OK, folks. The VAR Guy has been spending a ton of time writing about SugarCRM, the open source application provider. And for good reason: Annual revenue will hit $15 million this year, cash flow is now positive and company insiders are focused on a longer-term plan, The VAR Guy hears.

Although Reuters misidentified SugarCRM’s CEO (It’s John Roberts, not John Bolton), the newswire reports that SugarCRM was cash-flow positive in its most recent quarter. And over the long haul, SugarCRM is eying two key revenue targets: $25 million and $100 million, our tipster hears.

Company insiders tell The VAR Guy that they feel like they have a pretty clear path to $25 million over the next year or so — but the real challenge will be building out a staff infrastructure that will take the company to $100 million in revenue.

SugarCRM’s marketing and sales leaders are also meeting regularly with peer open source companies to discuss key growth strategies. The key takeaway from the meetings: Generally speaking, SugarCRM believes it is growing faster than most open source companies, with MySQL being the one major exception, The VAR Guy hears.

SugarCRM executives are currently touring the world to promote the company’s open source wares to new customers and partners. The VAR Guy attended one of the events last week. Here’s a recap.

Comments (2)

  1. […] has experienced record growth in recent months. And MySQL continues to monitor financial markets for an opportune time to launch a potential […]

    TechIQ » Archive » Is Open Source Recession-Proof?, November 13th, 2007 at 10:48 am #
  2. […] They enjoy “first mover” advantage in the open source CRM space. They’re growing fast. And SugarCRM’s location near Silicon Valley allows the company to work closely with open […]

    TechIQ » Archive » Corporate Name Changes Done Right, December 14th, 2007 at 11:17 am #

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