SugarCRM Revenue Doubles
OK, folks. The VAR Guy has been spending a ton of time writing about SugarCRM, the open source application provider. And for good reason: Annual revenue will hit $15 million this year, cash flow is now positive and company insiders are focused on a longer-term plan, The VAR Guy hears.
Although Reuters misidentified SugarCRM’s CEO (It’s John Roberts, not John Bolton), the newswire reports that SugarCRM was cash-flow positive in its most recent quarter. And over the long haul, SugarCRM is eying two key revenue targets: $25 million and $100 million, our tipster hears.
Company insiders tell The VAR Guy that they feel like they have a pretty clear path to $25 million over the next year or so — but the real challenge will be building out a staff infrastructure that will take the company to $100 million in revenue.
SugarCRM’s marketing and sales leaders are also meeting regularly with peer open source companies to discuss key growth strategies. The key takeaway from the meetings: Generally speaking, SugarCRM believes it is growing faster than most open source companies, with MySQL being the one major exception, The VAR Guy hears.