FloQast Achieves $100M in Annual Recurring Revenue

Revenue milestone marks a transformative year for FloQast, highlighting significant growth, product innovation, and numerous accolades

LOS ANGELES, Feb. 06, 2024 (GLOBE NEWSWIRE) -- FloQast, a Finance and Accounting Operations Platform created by accountants for accountants, today announced it has attained $100 million in Annual Recurring Revenue (ARR) - a historic milestone showcasing robust growth and market leadership in more than a decade of growth for the company. This accomplishment marks a transformative year for FloQast, highlighted by an expanding customer roster, international expansion, and numerous accolades.

"Reaching the $100M ARR milestone is a testament to the incredible dedication and hard work of the entire FloQast team,” said Mike Whitmire, co-founder and CEO at FloQast, CPA. “When we started this journey, $100M ARR was our ambitious financial goal — I literally wrote it on a whiteboard next to my desk — and hitting it is an extraordinary achievement that we are immensely proud of. This accomplishment is the result of a collective effort, and we wouldn't be here without the day-to-day contributions of every team member. We look forward to carrying this growth into 2024 and beyond.”

Throughout the year, FloQast achieved remarkable success, unveiling an array of accomplishments:

• Product Innovation: The company introduced all-new Variance Analysis and Compliance Management solutions, bolstering its Accounting Automation Platform and addressing evolving industry needs.
• Educational Initiatives: FloQast launched free public CPE/CPD courses through FloQademy, providing valuable educational and entertaining resources for accounting professionals.
• Logo Growth: FloQast now powers more than 2,600 accounting teams, including Twilio, Los Angeles Lakers, Zoom, and Snowflake, among other notable organizations.
• Global Expansion: FloQast expanded its presence to Australia and New Zealand with an office in Sydney, and also extended its presence into the DACH (Germany, Austria, and Switzerland) region, further extending its reach to new markets.
• Certified Integrations and Growing Ecosystem: FloQast announced its certified integration with SAP S/4HANA Cloud, Public Edition, and availability on the SAP® Store.
• Creative Brand Strategy: FloQast unveiled an all-new brand strategy, reflecting the company's commitment to innovation and modernization in the accounting industry.
• Business Accolades: FloQast secured a place on the Deloitte Fast 500 list, made its debut on the Inc. 5000 list, and earned a spot among the highest-scoring businesses on Inc. Magazine’s Annual List of Best Workplaces for 2023. It was also named to Newsweek’s 1000 Excellence Index.
• Dynamic User Conference: FloQast hosted TakeControl: Charting the Future of Accounting, FloQast’s fifth-annual user conference, providing insights into how accounting and finance functions are evolving in today’s world
• Customer Recognition: FloQast was named to G2’s 2023 Best Software Awards for Global Software Companies list, solidifying its position as a top global software provider, and maintained the top ranking as the number-one-rated solution on the G2 Report for Financial Close Management for five consecutive quarters.
• Best Workplace Honors: FloQast earned the distinction of being named a “Best Place to Work” for the seventh consecutive year by the Los Angeles Business Journal. Fortune also recognized FloQast as a Top Workplace in Technology and honored the company on its Best Medium Workplaces list, underscoring FloQast’s commitment to fostering a positive and innovative work environment. FloQast was honored as a Great Place to Work™ in both the US and UK, showcasing the company's dedication to creating exceptional workplaces globally, and was ranked among the highest-scoring businesses on Inc. Magazine’s Annual List of Best Workplaces for 2023.
• Culture Building: FloQast is hosting FloQast GO 2024 in Las Vegas from February 5-8, an all-company kickoff event filled with fun activities and educational sessions for the entire FloQast team.
• Growing Team: The FloQast team continues to grow, with more than 600 employees at the conclusion of 2023.

This collection of achievements underscores FloQast's commitment to excellence, innovation, and continued growth in the ever-evolving landscape of accounting workflow automation.

About FloQast
FloQast, a Finance and Accounting Operations Platform created by accountants for accountants, enables organizations to operationalize accounting excellence. Trusted by more than 2,600 accounting teams – including Twilio, Los Angeles Lakers, Zoom, and Snowflake – FloQast was built by accountants, for accountants to enhance the way accounting teams work. FloQast enables customers to streamline and manage the Financial Close, Finance and Accounting Operations, and Compliance Programs. With FloQast, teams can manage every aspect of the month-end Close, reduce their compliance burden, stay audit-ready, and improve accuracy, visibility, and collaboration throughout the financial function. FloQast is consistently rated #1 across all user review sites. Learn more at FloQast.com.

Contact:

Kyle Cabodi

FloQast Director of Corporate Communications

kyle.cabodi@floqast.com

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