Company sees over 30% subscription revenue growth in 2024 and ARR, representing 70 consecutive quarters of ARR growth
ATLANTA & HELSINKI–(BUSINESS WIRE)–RELEX Solutions, a provider of unified supply chain and retail planning solutions, announced it closed 2024 with continued growth across key corporate performance metrics including subscription revenue, annual recurring revenue (ARR), and customer growth. In 2024, RELEX saw over 30% year-over-year (YoY) growth of both reported Subscription revenue and ARR with ARR growth accelerating towards the end of the year. The fourth quarter of 2024 represented the 70th consecutive quarter of ARR growth for RELEX.
Growing customer base
In 2024, RELEX signed new customers in key verticals such as food & beverage, health & beauty, pharmaceutical, household goods, and electronics. RELEX added 64 net-new customers, and closed over 200 customer agreements, including Carturesti, dm-drogerie, East of England Co-op, El Corte Inglés, Empik, Fortnum & Mason, Healthy Options, Hornbach Baumarkt, MONOPRIX, OXXO LATAM, PetValu, Prisma Peremarket, System U, Thalia, Takko Fashion, Wesco.
RELEX also saw a 40+% increase in customers that chose to expand their business with RELEX to capture additional business value in 2024, demonstrating the tangible, measurable value retailers, manufacturers, and consumer goods companies gain when working with RELEX. In addition, the company had an all-time-high Net Promoter Score (NPS) rating of 62 globally. The average NPS score for a SaaS company is around 40; RELEX consistently scores well above the industry average each quarter.
Delivering innovation
RELEX also continued to invest in innovation in 2024; reinvesting over 25% of its revenue into R&D, surpassing the industry average of around 15%. In 2024, RELEX introduced several new AI-driven capabilities across its supply chain and retail planning portfolio.
These include:
- AI-driven price optimization solution that integrates seamlessly with the RELEX promotion planning solution
- CO2 Analytics which automatically tracks and reports CO2 emissions of purchased goods, aiding compliance with new regulations
- RELEX Mobile Pro app which improves in-store efficiency and sales
- Rebot powered by OpenAI GPT-4 which boosts productivity and decision-making
- RELEX True Inventory which improves inventory accuracy and store efficiency
Growth in manufacturing business
Since announcing the acquisition of Optimity in January 2024, RELEX has established a fully dedicated and synchronized team across sales, delivery, engineering, customer success, and support. The integration with Optimity has been successful, seamlessly incorporating its advanced production planning, production scheduling, and distribution optimization capabilities into the RELEX platform. Additionally, several existing customers have purchased production planning and optimization solutions, to unite upstream and downstream planning, and improve operational efficiency. Some of the customers that have selected or expanded their use of RELEX for production planning, production scheduling, and distribution optimization capabilities include: Lumene Group, Oniverse, Rituals, and Specialty Bolt & Screw.
“RELEX achieved remarkable results in 2024. Our sustained growth, innovations, and the trust of our expanding customer base are a testament to the hard work and dedication of our team and the trust instilled in us by our customers,” said Mikko Kärkkäinen, Group CEO and Co-founder, RELEX Solutions. “We remain committed to delivering measurable value and driving continuous improvement for our customers in retail and manufacturing sectors.”
About RELEX
RELEX Solutions provides a unified supply chain and retail planning platform that aligns and optimizes demand, merchandising, supply chain, operations, and production planning across the end-to-end value chain. We help retailers, manufacturers, and consumer goods companies like ADUSA, AutoZone, Coles, Dollar Tree and Family Dollar, M&S Food, PetSmart, and The Home Depot drive profitable growth across all sales and distribution channels, leading to higher product availability, increased sales, and improved sustainability. Learn more at: https://www.relexsolutions.com/customers/
Contacts
For more information, please contact:
Jolene Peixoto
Vice President of Communications
RELEX Solutions
[email protected]
Savannah Yawn
Communications Manager
RELEX Solutions
[email protected]
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