18/07/2023

Dye & Durham surpasses milestone of $100 million in annual recurring revenue

  • Result of organic sales growth, new internal contracted-sales initiatives and recent tuck-in acquisitions

TORONTOJuly 18, 2023 /CNW/ – Dye & Durham Limited (TSX: DND) (“Dye & Durham” or the “Company”), one of the world’s largest providers of cloud-based legal practice management software designed to make managing a law firm, organizing cases, and collaborating with clients easy, today announced it has surpassed $100 million in annual recurring revenue (“ARR”), a key marker of scale which positions the company strongly for future growth.

Dye & Durham reached the ARR milestone this week. This represents an increase of $33 million in the company’s ARR since the end of March and is the result of a mixture of strong demand for the company’s software products, new contracted-sales initiatives and the company’s recent tuck-in acquisitions in the legal practice management market. Dye & Durham has a stated goal of driving its ARR to more than 50% of total revenue by the end of fiscal 2026, while growing its annual adjusted EBITDA by 20-25% annually.

“Today is a major achievement for Dye & Durham and it’s especially impressive considering that our ARR stood at only $9 million in the first quarter of fiscal 2022,” said Dye & Durham CEO Matthew Proud. “We are focused on shifting our customer relationships from a single product-driven solution approach to a holistically consultative approach, building deeper and lasting partnerships to help legal professionals achieve more growth with less effort. This is a clear testament to the hard work, passion and dedication of our team and I’m excited to see us build on this momentum.”

About Dye & Durham

Dye & Durham Limited provides premiere practice management solutions empowering legal professionals every day, delivers vital data insights to support critical corporate transactions and enables the essential payments infrastructure trusted by government and financial institutions. The company has operations in Canada, the United KingdomIrelandAustralia and South Africa. Additional information can be found at www.dyedurham.com.

SOURCE Dye & Durham Limited

For further information: Media Relations: Morgan McLellan, VP, Global Communications, [email protected], 647-802-4825; Investor Relations: Ross Marshall, LodeRock Advisors Inc., [email protected], 416-526-1563

Go to Media

LATEST MEDIA

05/12/2024
Press Releases

Dye & Durham Partners with Robin AI to Enhance Customer Experience with Cutting-Edge AI Solutions in Unity

Robin AI and Dye & Durham to launch AI powered Unity Contract Draft and Review, and roll it out to Dye & Durham’s extensive customer-base in early 2025 Through internal built solutions…

Read more
04/12/2024
Press Releases

Engine Capital Fails Dye & Durham Shareholders and Proposes a Value Destructive Path for the Company

Engine plans to interrupt the Company’s momentum while it learns about the business and spends over a year implementing its plan Engine’s proposed Chair and Interim CEO has made disqualifying…

Read more
02/12/2024
Press Releases

Dye & Durham Publishes Investor Presentation ‘A Simple Choice for Shareholders’ Highlighting Company’s Track Record of Outperformance and Growth Ahead of 2024 Annual Meeting

Dye & Durham’s experienced and refreshed nominees, are leading an orderly transition to a new CEO, supporting the focused and engaged senior leadership team and driving strong organic growth Engine’s…

Read more
28/11/2024
Press Releases

Dye & Durham Forecasts Record Setting Quarter & Announces Upcoming Investor Briefing

$120-125 million Q2 FY2025 guidance range for revenue versus $110 million in Q2 FY2024 6-10% expected Organic Revenue Growth1,3 rate in Q2 FY2025 versus 2.8% in Q2 FY2024 Results are trending for the Company’s best quarterly revenue1 performance ever – clear…

Read more
26/11/2024
Press Releases

Dye & Durham Releases Letter to Shareholders and Files Management Information Circular Ahead of Upcoming Annual Meeting

Dye & Durham’s highly qualified Board and management team are focused on driving value for all stakeholders Engine Capital threatens to disrupt the Company’s progress, opposes the consideration of strategic alternatives, and…

Read more
26/11/2024
Press Releases

Dye & Durham Announces CEO Succession Plan

Matthew Proud to step down as CEO after transition period Comprehensive CEO selection process will be initiated to identify a successor Board and management team will continue to execute on Dye…

Read more
22/11/2024
News

Dye & Durham Announces a Decrease in Interest Rate Spread as a Result of Strong Business Performance

Interest rate spread on Company’s senior secured Term Loan B Facility decreased by 25bps to 4.00% Reduction in interest rate spread is a result of a lower Net Debt-to-Adjusted EBITDA ratio,…

Read more
20/11/2024
Press Releases

Dye & Durham Provides Update on Strategic Review Process

Will pause strategic review process until completion of the 2024 annual meeting and election of new board of directors TORONTO, Nov. 20, 2024 /CNW/ – Dye & Durham Limited (the “Company” or…

Read more
19/11/2024
Press Releases

Dye & Durham Accepts Engine’s Re-Submitted Nomination Notice

Board determined to waive deficiencies and accept Engine’s re-submitted nomination materials, in the interests of shareholder democracy Shareholders can decide for themselves which nominees they believe are best qualified to…

Read more
12/11/2024
Press Releases

Dye & Durham Releases its Value Creation Plan and Announces its Seven Highly Qualified Nominees for Election at the Upcoming Annual and Special Meeting

Value Creation Plan outlines path for driving sustained value for all stakeholders, and illustrates Dye & Durham’s track record of capital allocation Dye & Durham’s nominees have the right mix…

Read more
07/11/2024
Press Releases

Dye & Durham Comments on Competition Bureau Investigation

TORONTO, Nov. 7, 2024 /CNW/ – Dye & Durham Limited (the “Company” or “Dye & Durham“) (TSX: DND) today commented on the Competition Bureau’s (the “Bureau”) investigation into the Company’s position in the…

Read more
07/11/2024
Press Releases

Dye & Durham Reports First Quarter Fiscal 2025 Financial Results

Revenue up 5% to $120 million in Q1 FY2025, taking into consideration the TM Group divestiture  ARR1,2 up 43% to $156 million, representing 32% of total revenue Leveraged Free Cash Flow1 of $28 million and net cash…

Read more