Opinion
Aleman: Low-code platforms cannot build complex business applications
“While low code is great, it's not very capable of building complex business applications. It's usually only used for very small point applications.”
Opinion
Aleman: Major IT vendors lack up-to-date low-code offerings
“Nearly all of those vendors at Dell want to move into this market into the space of low code software development, don't have a current or don't have an up to date offering.”
Prediction Not checkable as stated
Aleman: Outside funding could return Servoy to 100% annual growth
“We believe that with an additional funding round, we could put the growth rate back to a hundred percent year over year.”
Insight
Aleman: PaaS platform churn drops once customers build applications requiring rewrites
“So we typically see churn at the start of getting a new customer on board. Once you're, or into the platform, once you've developed a bunch of applications, the stickiness is is very good. Also because you would have to redo your applications.”
Disclosure
Aleman: Servoy is on track for $30M ARR, targeting $40M next year
“Well, so this year we're going to do a 30, so for next year, if we, we're happy if we're going to hit 40 with our existing cash flow without external funding, and then we believe we're ready to make the next step.”
Disclosure
Aleman stepped down as CEO after his COO asked for the job
“So I've been CEO of the company for 15 years. And two years ago, my CEO came to me, and he'd been managing the company for me for about five, six years. And he came to me and he said, I want your job. I think I can do it better.”
Assertion Not checkable as stated
Aleman: 80% of Servoy's Revenue Is Recurring
“I would say 80% of our revenue today is is recurring.”
Disclosure
Servoy Charges Software Companies a Percentage of Their End-Product Pricing
“So we price around the usage of the platform. So with a, typically with corporate users that can be on a per user basis with software companies, we typically charge as a percentage of what they charge for their products.”
Assertion Not checkable as stated
Aleman: Servoy charges software company clients 2% of their total revenue
“Now, if you look at software companies, then because they're paying a percentage, that can also vary depending on their own size. So usually, in reality, it's around two percent of their total revenue.”
Assertion Not checkable as stated
Aleman: $5,000/month is low-end average for ISVs, typical for corporate clients
“I would say that it's on the low end of our average. If you look at ISVs, it's sort of on our average when I look at corporate clients.”
Assertion Not checkable as stated
Aleman: Servoy stabilized at 30% revenue growth without outside funding
“In the past five years, we've sort of stabilized that at around 30%, and that's the revenue rate at which we can grow. Without doing external funding”
Assertion Not checkable as stated
Aleman: Servoy has been profitable for 15 years
“We have a healthy revenue within a company where we've been profitable since 15 years as an organization.”
Disclosure
Aleman: Servoy raised only $1M in total outside capital
“One million in, in external financing, everything else by the founders.”
Disclosure
Aleman: Servoy achieves negative net revenue churn with 3% annual logo churn
“That's our revenue churn is negative. So a lot of current customers are growing. Our logo revenue has been fairly stable at three percent in the past years.”
Assertion Not checkable as stated
Aleman: Servoy recovers customer acquisition costs in 12 to 14 months
“Our customer acquisition cost is, is about one year of new revenue that they bring in. So in about 12 to 14 months, we recover from customers that are onboarding onto onto the platform.”
Disclosure
Aleman: Servoy may pursue strategic partnership or VC next year
“Next year would not be unlikely for us to start looking at Either a strategic partner or a, or classic venture capital to further accelerate the growth.”
Assertion Not checkable as stated
Aleman: Servoy serves over 1,000 customers
“So today we're serving a little bit more than a thousand customers and growing at the moment.”
