Year-over-year revenue increased 64% in Q1 2021
Holmdel, NJ – April 29, 2021 – WorkWave®, the leading provider of industry-changing software solutions that enable field service companies to reach their full potential, today announced a 64% increase in revenue growth in Q1 2021 compared with the same period last year, reinforcing that its unique approach to creating a deep partnership with its customers continues to fuel its dominance of the field service software industry.
“Our roots as a company are founded not just upon an intimate understanding of service, but also on the deepest understanding of how service companies operate. Our customers know how to deliver superior service—what they want is more than just service software. What they both want and need is a partner that moves every area of their business ahead; a joint custodian of their business, equally responsible to help them improve it in tangible, measurable ways,” says David F. Giannetto, CEO of WorkWave. “This is why WorkWave is reinventing what it means to be a software provider. We are the partner that drives their growth, improves their operations, and maximizes their money. We must provide every advantage that helps them fight, win, and thrive against increasing competition. WorkWave must be their competitive advantage.”
“With deep partnerships at the forefront of WorkWave’s approach, the customer’s voice is at the heart of every initiative, empowering us to increase our net new customer base by 31% across all products in Q1 2021. This also led to a 144% increase in total bookings across our four core platforms, with recurring revenue holding strong with a year-over-year increase of 64%,” said Jana Hey, CFO of WorkWave. “This performance continues to demonstrate our deep understanding of how we are enabling our customers to grow their business, service their customers, and maximize their money.”
WorkWave’s strong Q1 2021 financial performance and profitability is an outcome of the tangible, measurable value that it is delivering to help its customers succeed. Across the remainder of 2021, WorkWave will continue to deliver solutions that are unparalleled in their capabilities, pushing the boundaries of how these capabilities connect to other processes, products, and services. This connectivity will enable organizations to multiply value exponentially by using software that seamlessly connects the organization to its customers through a tightly integrated web of products and partnerships that reinforce its commitment to help customers thrive even during these challenging times.
WorkWave’s Q1 2021 performance follows on strong results in 2020 that far outpaced its forecast. Built upon a strong product roadmap, a passionate team, and revolutionary thinking, this continued high level of performance recently resulted in EQT and TA Associates, the owners of WorkWave, elevating WorkWave’s status to a free standing company—a direct reflection of their confidence in the future success and growth of WorkWave.
For nearly 40 years, WorkWave has been building best practices into its market-leading field service and last mile software solutions to allow best-in-class companies to grow their business, service their customers, and maximize their money. Its solutions empower service-oriented companies to reach their full potential through scalable, cloud-based software solutions that support every stage of a business life cycle, including marketing, sales, service delivery, customer interaction, and financial transactions. WorkWave is a trusted partner for thousands of customers across a wide variety of industries, including pest control, lawn care, cleaning, HVAC, plumbing and electrical, and last mile delivery. WorkWave’s award-winning culture and solutions have been recognized in the SaaS Awards, the Cloud Awards, the American Business Awards, the NJBIZ Best Places to Work Awards, and the Stevie Awards for Great Employers. For more information, visit workwave.com.
Sr. Manager, Strategic Communications, WorkWave