LEDAS FY19 Revenue Up by 20%
NOVOSIBIRSK, Russia, Feb 13, 2020 – LEDAS Ltd., a leading provider of software development and consulting services for the engineering market, released some of its 2019 financial results. Fiscal year 2019 saw a 20% overall increase in privately-owned LEDAS’ revenues, thanks mostly to growth in the US market and a higher demand in digital medicine services.
LEDAS has grown steadily, increasing its revenues threefold over the last five years, as first reported last year. For a third consecutive year, the United States proved to generate nearly half of LEDAS’ software R&D service revenues, 49% in 2019. Sales in the US market grew 25% year-to-year, greater than the overall growth worldwide of 20%. Europe (primarily Germany, France, and Switzerland) came in second with a solid 34%.
LEDAS’ foundational software niche is in computer-aided design (CAD) and manufacturing (CAM). Over the last several years, the company had augmented these traditional sectors to serve a broader market. New sectors include research and development (R&D) into digital medicine, 3D Web and cloud solutions, building information modeling (BIM), and additive manufacturing (3D printing).
Sales in digital medicine, where LEDAS now has five customers, most from the US, reached a record high, providing 39% of LEDAS revenues. Traditional CAM and additive manufacturing was the second largest revenue source, with most customers originating in Europe.
In 2019, LEDAS was the key participant in several customer projects that added to the company’s long-term experience and core competencies. These included fundamental geometric and mathematical modules for general-purpose 3D kernels and solvers, and platforms that form the building blocks of contemporary 3D modeling solutions. These projects generated 18% of LEDAS’ revenues.
“It was very good year for us, because we extended our businesses, revenues, and areas of expertise,” said Alexey Ershov, CEO of LEDAS. “We even expanded our working space, thanks to our recent relocation to larger offices.
“We are approaching 20 long-term customers worldwide, and our business benefited from diversification across geographies and industries,” he added. “We are looking forward to further growth, as these new areas of expertise are in bigger markets and so the demand for experienced software professionals is higher.”
To learn more about LEDAS, visit our Web site at www.ledas.com.