The Ledger
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Legasys beats Big Four accounting firms in most head-to-head deals
“There are times when we win against the big fours as well. In fact not a few times, most of the times we win against the big four.”
Legasys revenue will shift from 85 percent one-time toward SaaS
“So in the last two months, I would say the breakup is roughly between 85% one time and 15% SaaS, but the number is going to shift towards the SaaS model in the coming years.”
Legasys SaaS business has 12 clients averaging 20 seats each
“We've got about a dozen clients, and on an average, each client would have a user base of say 20 users, depending on the Size and the nature of the business that they have.”
Legasys generates $5M to $6M in total annual recurring revenue
“We are somewhere between five to six million dollars all put together each year.”
Legasys serves about 500 customers in India and clients in 44 countries
“All put together. We have about 500 customers in in India, which is the primary market we serve today. And we are, we also serve customers in 44 other countries, but they have strong links back to India as their primary market.”
Legasys revenue remained flat year-over-year due to Indian tax reforms
“We were more or less in the same zone a year ago because the Indian economy had some strong headwinds in terms of regulatory changes, especially on the taxation side.”
Legasys plans to raise a $5M bridge round for product development
“So we've set aside some about five million as a bridge round before we go in for a bigger raise, and we would like to use that capital for funding some of the product development and sales expansion.”
Legasys generates an EBITDA margin between 12 and 20 percent
“It could range anywhere from 12 to 20% EBITDA.”
Legasys charges a flat $9 per user monthly
“Roughly about, say, nine dollars per user per month. And we do not distinguish between the type of users. So whether you're a general counsel or a company secretary or a regular compliance user or someone who's just kind of reporting the compliance of the syst…”