How does a Saas company grow
Trend Micro grows with Software-as-a-Service
Trend Micro has released its 2020 business results. As the cybersecurity company writes in a press release, it grew by 7 percent in the fourth quarter of last year as well as in the full year. The growth took place across all business areas.
In the fourth quarter of 2020, the company had consolidated net sales of $ 450 million. Operating income was $ 114 million.
Trend Micro's press release does not specifically specify the amount of consolidated net sales for the full year 2020. It should be around $ 1.62 billion if you add 7 percent to consolidated net sales for 2019.
High SaaS demand due to accelerated digital transformation
Accelerated digital transformation and teleworking have played a role in the results. The need for Software-as-a-Service (SaaS) solutions in the cybersecurity area increased last year. The number of SaaS instances used grew by 66 percent year-on-year to 32.3 million. According to the announcement, the Saas customer base has grown by 18 percent.
"The events of 2020 will find their way into the history books and influenced all aspects of our lives," said Eva Chen, Trend Micro co-founder and CEO, commenting on the numbers. "In order to remain competitive and to support remote concepts, many companies accelerated their digital transformation. Cybercriminals also took advantage of the global exceptional situation. That is why it was all the more important that companies around the world step up their security efforts."
Trend Micro expects consolidated net sales of $ 1.75 billion for the current fiscal year (ending December 31, 2021). Operating income is expected to be $ 389 million and net income is $ 274 million.
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