Blockchain Press Releases
IFS delivers 38% YoY revenue growth with sharp rise in demand for its AI capabilities
- Mix of Cloud revenue up 55% YoY and ARR up 55% YoY signal robust forward performance.
- Software revenue up 44% YoY as IFS continues to lead in ERP, EAM, FSM and ESM.
LONDON, July 25, 2023 /PRNewswire/ — IFS, the global cloud enterprise software company, today announced its financial results for the first half of 2023 ending June 30th, with annual recurring revenue up a significant 55 percent year on year, cloud revenue up 55 percent and software revenue up 44 percent representing a 79 percent share of total revenue.
Despite the continued challenges posed by high inflation and monetary policy tightening, companies are further investing in technology. That said, with cloud, VR, RPA and IoT technology capabilities now seen as staple, the AI capability which IFS brings, embedded, natively to our customers is becoming a significant differentiator. This was confirmed in a recent IDC Info Brief* that indicated that capabilities that improve employee and asset productivity, build business resilience, and deliver faster time to value are more likely to secure the CFO’s share of wallet.
IFS’s roadmap remains firmly aligned to these trends with technology that accelerates intelligent insights and automation and optimizes people and assets. With AI well established throughout its automation, prediction, and optimization capabilities the company has seen a sharp increase in demand in H1 by both existing and new customers. As the new generation of AI matures, the company is set to accelerate innovation in this area and continue to deliver these capabilities in every new release.
Adding to the company’s H1 success, in June, IFS acquired Poka, extending its capabilities with connected worker technology to empower factory and field workers to work smarter, safer and drive productivity and efficiency. Poka’s customer base includes global brands such as Nestlé, Tetra Pak, Mars, Bosch and RioTinto. The acquisition positions IFS as the only vendor with leading ERP, EAM and FSM capabilities now able to digitally connect workers across the end-to-end value chain.
During his 5 years tenure at IFS, CEO Darren Roos’ north star has been to deliver what customers asked for. From exponentially growing the ecosystem to provide choice, to successfully integrating multiple acquisitions to add new capabilities. In that time, the company’s also completed its own transformation and shifted its products and services business model to now being fully subscription-based. The company’s H1 results show the dividends of this focus, with consistently high renewal rates across its products and services, combined with a notable increase in new customers.
IFS CEO Darren Roos commented: “These results are the culmination of 5 years of hard work in establishing our business as a thought leader and as a partner that has the agility to respond to the needs of its customers. Roos added: “We have consistently been able to adapt faster to market dynamics than much larger competitors. Our 37 percent, 5-year ARR CAGR, is a validation of our customer intimacy and focus,”. He concluded: “I am proud of the ongoing commitment from our employees and partners and of the trust customers have shown us. The success of our organic and inorganic growth strategies is evidenced by our results and by our rankings as leaders year after year by customers and analysts.”
IFS Chief Financial Officer, Matthias Heiden, commented: “The ongoing macro-economic challenges mean companies are thinking carefully about their technology investments and focus on what will help build business resilience. We see this reflected in the number of customers moving to IFS Cloud and in how customers are prioritizing when and where they extend their IFS footprint”. Heiden continued: “With annual recurring revenue up 55 percent year on year, software revenue up 44 percent Year on Year and our success services up 68 percent year on year, our H1 results are signals of a robust outlook.” Heiden concluded: “The traction we have seen in the US in the first half of the year points to solid market penetration and that the value IFS is delivering is resonating”.
Through its software and success services, IFS is making it possible for customers to buy and consume technology in the way that creates the most value for them, so they can deliver amazing Moments of Service™.
* Shaping the future of Manufacturing, see the IDC info brief here.
Financial* and Operational Highlights for H1 FY2023:
H1 FY2023 software revenue was EUR 392m, an increase of 44 percent versus H1 2022
H1 FY2023 recurring revenue was EUR 373m, an increase of 49 percent versus H1 2022
H1 FY2023 cloud revenue increased 55 percent versus H1 2022
H1 FY2023 total revenue was EUR 493m, an increase of 38 percent versus H1 2022
*Note: all figures based in Euros and reported in constant currency.
In line with WorkWave establishing itself as a standalone business at the end of Q2 2021, the performance reported above excludes WorkWave’s contribution to the IFS Group.
Additional highlights:
- IFS has added multiple new logos across all its core industries, with wins such as Havfram, Bang & Bonsomer, Felker Brothers, Behlen Mfg, and Apex Clean Energy.
- IFS was named a Leader in the Nucleus Research Enterprise ERP Technology Value Matrix, 2023
- IFS ranked #1 in a Gartner report for 2022 Global EAM Market Share by Revenue for the second consecutive year.
Learn more at https://www.ifs.com/about/financial-information
About IFS:
IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers-at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 5,500 employees every day live our values of agility, trustworthiness and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.
CONTACT:
IFS Press Contacts:
EUROPE / MEA / APJ: Adam Gillbe
IFS, Director of Corporate & Executive Communications
Email: [email protected]
Phone: +44 7775 114 856
NORTH AMERICA / LATAM: Mairi Morgan
IFS, Director of Corporate & Executive Communications
Email: [email protected]
Phone: +1 520 396 2155
The following files are available for download:
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IFS H1 Results |
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https://mb.cision.com/Public/855/3809234/a9b9f160ecbc1b63.pdf |
H1 Results Final |
View original content:https://www.prnewswire.co.uk/news-releases/ifs-delivers-38-yoy-revenue-growth-with-sharp-rise-in-demand-for-its-ai-capabilities-301884858.html
Blockchain Press Releases
MEXC Announces Listing of Hyperlane (HYPER) with a 165,000 HYPER and 50,000 USDT Prize Pool
VICTORIA, Seychelles, April 21, 2025 /PRNewswire/ — MEXC, a leading global cryptocurrency exchange, announced the Hyperlane (HYPER) listing on April 22, 2025(UTC).To celebrate this significant addition to the exchange, MEXC is launching a special event with a prize pool of 165,000 HYPER and 50,000 USDT for new and existing users.
Hyperlane is the first permissionless, universal interoperability protocol dedicated to building a truly open and decentralized cross-chain communication infrastructure. As “The Open Interoperability Framework,” it enables anyone to freely expand, utilize, and customize the network, allowing developers to easily and securely build cross-chain applications and token bridges. To date, Hyperlane has connected over 140 blockchains, processed nearly 9 million cross-chain messages, and bridged more than $6 billion in volume through its Warp Routes.
$HYPER is the native token of the Hyperlane ecosystem, with an initial total supply of 1 billion tokens. It plays a critical role in securing the protocol through staking, rewarding validators for verifying cross-chain messages, incentivizing user-driven activity, and enabling community governance over protocol development.
To celebrate the listing, MEXC will launch an Airdrop+ event with substantial rewards for users:
Event Period: April 21, 2025, 10:00 – May 01, 2025, 10:00 (UTC)
Benefit 1: Deposit and share 120,000 HYPER (New user exclusive)
Benefit 2: Spot Challenge — Trade to share 15,000 HYPER (For all users)
Benefit 3: Futures Challenge — Trade to share 50,000 USDT in Futures bonus (For all users)
Benefit 4: Invite new users and share 30,000 HYPER (For all users)
MEXC has established itself as a leading exchange by consistently offering users early access to high-potential crypto assets. In 2024 alone, the platform listed 2,376 new tokens, including 1,716 initial listings. According to the latest TokenInsight report, MEXC led the industry with 461 spot listings between November 1, 2024, and February 15, 2025. During this period, the exchange maintained a high listing frequency, consistently ranking among the top six platforms, demonstrating its agility in capturing emerging market trends. MEXC will continue to expand its asset offerings and help users seize timely opportunities in the fast-moving crypto market.
For full event details and participation rules, please visit here.
About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC
Risk Disclaimer:
The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.
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Blockchain Press Releases
Introducing Clementine Bridge: Citrea Deploys First Complete BitVM Bridge Design on Testnet
Citrea’s Clementine Bridge marks the first time that a fully programmable layer is tested for settling on Bitcoin.
GEORGE TOWN, Cayman Islands, April 21, 2025 /PRNewswire/ — Citrea, the first ZK rollup to enhance capabilities of Bitcoin blockspace and enable Bitcoin applications (₿apps), has successfully deployed its Clementine Bridge, the first complete BitVM bridge design on Bitcoin Testnet. Citrea has also recently revealed Clementine’s whitepaper, marking the first real-world implementation of a BitVM-based bridge which extends BTC’s utility to decentralized finance in the most Bitcoin-secured and native way possible. With Clementine’s testnet deployment, Bitcoin is for the first time tested for optimistically verifying a fully programmable layer. The Clementine whitepaper is currently the only documentation of how to use BitVM in a bridge design with clear solutions toward a secure and efficient bridge implementation.
Despite being the world’s largest digital asset, BTC has struggled to build relevance in decentralized finance. A secure bridge between Bitcoin and a secondary layer has always been a bottleneck for using BTC in a programmable environment. This problem has forced users to either keep Bitcoin as a passive store of value or rely on custodians for using BTC in financial activities. Citrea’s BitVM-based Bitcoin bridge Clementine solves this by enabling the safest and most trust-minimized way to bridge BTC and extend its utility to decentralized finance.
Citrea’s Clementine bridge marks a historic moment for Bitcoin and a new beginning for BTC’s utility. “It felt like magic when we saw all the bridge components work smoothly in our internal tests and that any malicious act is stopped by a single honest actor,” said Ekrem Bal, Co-Creator of Citrea. “We’re now ready to test Clementine in a real Bitcoin Testnet environment and make it more battle-tested for Citrea mainnet.”
With the introduction of BitVM by a Bitcoin developer Robin Linus, verifying computations on Bitcoin and building Bitcoin-secured bridges became a possibility. Very soon after its introduction, Citrea team became a core contributor of BitVM and later a founding member of BitVM alliance, where BitVM’s fundamental technology of executing a fraud proof of a zero-knowledge (ZK) proof on Bitcoin was developed collaboratively. Although accomplishing a ZK proof verification on Bitcoin was a prerequisite, there were still critical problems to address to implement this fundamental technology securely and efficiently into a Bitcoin bridge design. A detailed breakdown of this can be found in Clementine’s whitepaper.
Clementine’s design and whitepaper introduce novel solutions to two main research topics in BitVM-based bridge implementation, namely Bitcoin chain fork selection and capital efficiency of operators. These topics have been critical to solve as they ensure both the bridge’s security and efficiency. Citrea’s Clementine bridge offers clear solutions to both of these problems:
- Bitcoin Chain Fork Selection: This is related to ensuring that the bridge follows the longest Bitcoin chain. It has been an open research topic where the BitVM creator introduced superblocks approach but its security was later found to be broken. Citrea introduces a new Bitcoin Light Client design that uses succinct Header Chain Proofs of Bitcoin. These proofs are aggregated by operators into a single BitVM proof.
- Capital Efficiency of Operators: This has been another limitation of implementing BitVM efficiently into a bridge design. With Citrea’s approach to non-standard Bitcoin transactions, operators can now process hundreds of withdrawals in parallel with a single collateral. Disproving only one withdrawal is enough to stop other malicious withdrawal processes.
Clementine’s design relies on zero-knowledge proofs, Bitcoin data availability, a novel Bitcoin Light Client design and BitVM. In the case of a malicious act, an honest watchtower provides a proof of the longest Bitcoin chain. Then the operator generates a proof verifying Citrea’s state, watchtowers’ challenges and payout for the withdrawal. If the operator is malicious, it won’t be able to generate such proof, resulting in slashing the operator. Clementine has three main bridge actors to ensure the system’s integrity:
- Signers enforce BitVM spendings by managing peg-ins through presign transactions
- Watchtowers are tasked with monitoring operators and challenging any malicious behavior by sending a proof of longest Bitcoin chain
- Operators, a group of profit-seeking entities, temporarily cover users’ withdrawals and are later reimbursed with presigned transactions.
Citrea: Bitcoin’s Application (₿app) Layer
Citrea extends Bitcoin’s utility without sacrificing its security. With zero-knowledge technology, Citrea enables Bitcoin to function as a fully programmable layer. With its Bitcoin bridge Clementine, Citrea offers the safest and most trust-minimized way to bridge BTC to a fully programmable secondary layer.
For the first time in its history, Bitcoin Network will be able to support diverse on-chain applications and its utility will be extended to decentralized finance.
Apply to Citrea’s unique incubation program ‘Citrea Origins‘ to build ₿apps.
For more information, please visit: Citrea website | Citrea X Account
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PANAMA CITY, April 21, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, announces the listing of EPT, the native token for Balance.fun, for both spot trading and also on the BingX Xpool. The spot listing will commence on April 21 at 12:00 (UTC) while the Xpool launch will start on April 22 at 10:00 (UTC). BingX users can stake BTC and EPT in Xpool, though new users will have an additional option to stake USDT to win a bigger share of the reward pool that includes 2,000,000 EPT Points. The first 1000 new users who stake a minimum of 100 USDT will also be able to earn an additional bonus voucher worth 100 USDT.
EPT is the governance token of Balance, an AI-powered web3 experience infrastructure designed for the masses. This new digital asset will fuel the new Balance Platform to create an open and inclusive gaming ecosystem for both gamers and developers with fairness at its core. With the integration of AI and blockchain technology, games can be built and marketed more easily while allowing players to benefit from the enhanced and diversified gaming experience.
Users of the existing Epal platform can transfer their EPT tokens to BingX, enabling a reliable method to trade EPT or, alternatively, purchase EPT for governance purposes. Having a solid exchange to further explore the vast world of cryptocurrencies, this new listing further empowers both Epal and Balance users in the process.
Vivien Lin, Chief Product Officer of BingX, shared her thoughts on the new trading option and Xpool listing: “I think providing users with these new trading and early investment options is our responsibility as a responsible cryptocurrency exchange since some of our users rely on us to introduce such projects with such numerous functions across multiple subcategories”.
Visit bingx.com to join the Xpool starting April 22 and start trading EPT on spot from April 21. Whether you’re a gamer, builder, or crypto enthusiast, this is your chance to be part of a new decentralized chapter in entertainment.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information, please visit: https://bingx.com/
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View original content:https://www.prnewswire.co.uk/news-releases/bingx-brings-balance-ept-to-spot-with-a-200-million-ept-xpool-302433296.html
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