Blue Yonder Announces Fourth Quarter 2020 Results
Blue Yonder Holding, Inc. (Blue Yonder), announced unaudited results for the fiscal fourth quarter ending December 31, 2020. SaaS (News - Alert) revenue saw significant growth, up 58% in Q4 and up 70% for the full year. SaaS annualized recurring revenue (ARR) ended 2020 at a record $343 million, up 54% compared to 2019. Since the company's SaaS transformation began in 2017, Blue Yonder achieved a high water mark of 85 customer go-lives in Q4 2020 - a 27% increase from the same quarter in 2019.
"Constantly changing public health patterns, workforce shortages, restrained mobility of consumers and the lack of actionable visibility into supply drove customers towards Blue Yonder's agile, autonomous supply chain solutions in 2020," said Girish Rishi, chief executive officer, Blue Yonder. "Our Luminate cloud platform delivered significant benefits to our customers' business operations. With 70% year-over-year SaaS revenue growth, 120% SaaS net revenue retention1 (NRR) and SaaS revenue backlog within line of sight of $1 billion, Blue Yonder is now past the sixth inning of our SaaS transformation."
Q4 2020 results (unaudited)
SaaS revenue was $74 million in Q4 2020, up 58% compared to Q4 2019, and was $257 million for the full year, a 70% increase year-over-year (YoY) as Blue Yonder saw strong adoption f its SaaS offerings. SaaS NRR remains strong at 120%. Q4 2020 SaaS revenue backlog was $832 million, up 24% YoY from $669 million in Q4 2019, and up 16% from $717 million in Q3 2020.
Q4 2020 total recurring revenue, or Subscription Revenue (SaaS, software term licenses, support, professional services subscription and hosting), was $176 million, up 10% compared to Q4 2019, and represented 67% of total revenue. Q4 2020 revenue was $262 million, up 1% YoY, driven by the company's business model transformation to SaaS.
Q4 2020 customer momentum
Blue Yonder added 47 net new customers in Q4 2020 for a total of 134 net new customers in 2020 and closed 31 deals over $500,000 in Q4 for a total of 66 in 2020. Some of the customers who selected or extended their footprint with Blue Yonder during the quarter include:
1 Net revenue retention rate includes impact of customer attrition and expansion year over year and excludes impact from new customers.
About Blue Yonder
Blue Yonder is the world leader in digital supply chain and omni-channel commerce fulfillment. Our intelligent, end-to-end platform enables retailers, manufacturers and logistics providers to seamlessly predict, pivot and fulfill customer demand. With Blue Yonder, you can make more automated, profitable business decisions that deliver greater growth and re-imagined customer experiences. Blue Yonder - Fulfill your PotentialTM blueyonder.com
"Blue Yonder" is a trademark or registered trademark of Blue Yonder Group, Inc. Any trade, product or service name referenced in this document using the name "Blue Yonder" is a trademark and/or property of Blue Yonder Group, Inc.
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