Demand for IFS Cloud Drives Strong Q3 Performance for IFS

As customers achieve a faster time-to-value thanks to the improved implementation capabilities of IFS Cloud and as more partners implement IFS solutions, the contribution of software revenues now represents 72% of IFS's total revenues (an increase of 17% year-on-year).

The improvements across all key KPIs demonstrate IFS's continued growth, as well as an impressive revenue mix that ensures consistency and stability. Together with IFS's distinctive proposition for companies managing their assets and service needs, it provides a solid foundation for a strong end to the year.

Another noteworthy achievement of IFS is related to Service Management. IFS has once again proven to be successful in this area, and this achievement is also recognized by Gartner. They have named IFS a leader in the Magic Quadrant for Field Service Management for the sixth consecutive time. In Q3, IFS also won several tenders with their industrial asset and service proposition.

Darren Roos, CEO of IFS, says the following about this: "At its core, IFS is a technology-driven software company, and the investments we have made - and continue to make - in IFS Cloud and our customer-centric services are proving themselves in these excellent results. The strong growth in software revenues is due to attracting new customers, but also to our engagement with our current customers, whose ongoing success is of utmost importance to us. I am proud of the work our team has done to stand out in the market with our industrial resources and service capabilities, which continues to create positive momentum."