/biz/ - Business & Finance

>We are growing rapidly, with total revenue of $156.7 million in the fiscal year ended April 30, 2020 compared to $91.6 million in the fiscal year ended April 30, 2019, representing year-over-year growth of 71%. Over the same period, our subscription revenue grew to $135.4 million from $77.5 million, a 75% increase. The bulk of our revenue accrues from subscription software, accounting for roughly 86% of our total revenue. We incurred net losses of $69.4 million and $33.3 million in the fiscal years ended April 30, 2020 and 2019, respectively.
>The average initial contract value with our largest 15 Entities was $12.8 million. On average, each of these Entities has purchased an additional $26.1 million in product subscriptions and services from us to date as they expanded existing use cases and added additional use cases to their roadmaps.
>We have established strategic relationships with technology leaders including AWS, Baker Hughes, Fidelity National Information Services, or FIS, Google, IBM, Microsoft, and Raytheon. These world-leading technology companies can marshal tens of thousands of talented resources to establish and serve NAK customer relationships at global scale.
>The bulk of our revenue is generated from subscriptions to our software, accounting for roughly 86% of our total revenue. We currently have four primary revenue sources:
•Term subscriptions of the NAK Suite, usually three years in duration.
•Term subscriptions of NAK Applications, usually three years in duration.
•Monthly runtime fees of the NAK Applications and customer-developed applications built using the NAK Suite, usage-based upon CPU-hour consumption.
•Professional services fees associated with training and assisting our customers.