Magaya Announces Strongest Quarterly Earnings to Date, Continues Business Momentum for Fiscal Year 2020
Magaya Corporation, the leading provider of end-to-end logistics and supply chain automation software, is proud to report its strongest quarterly earnings at the closure of Q3 2020.
DORAL, Fla., Oct. 5, 2020 /PRNewswire-PRWeb/ -- Magaya Corporation, the leading provider of end-to-end logistics and supply chain automation software, is proud to report its strongest quarterly earnings at the closure of Q3 2020. The company continued to execute its growth strategy, delivering strong revenue and profit growth for the quarter.
The record results capped a successful 9-month stretch marked by strong growth in customer engagements, key acquisitions, record annual recurring revenue, as well as industry recognition. The company's achievements this year illustrate how Magaya is serving a market need within an evolving industry.
"We're excited about the future of the industry. The supply chain and logistics industry will continue to grow and transform as organizations demand greater business value to adapt to new challenges," said Gary Nemmers, Magaya CEO. "The organic growth Magaya has experienced this quarter is a testament to the strength of our solution in helping freight forwarders, 3PLs, NVOCCs, and other logistics businesses build resilience, boost productivity, improve customer satisfaction, and grow revenues."
The company has accelerated its organic growth throughout 2020 by adding more than 235 new logos through organic growth, plus 205 more through acquisitions. Q3 has been a remarkable quarter for Magaya. The company acquired a pair of best-of-breed solution providers – ACELYNK and Catapult – deepening the strength of Magaya's offerings across the logistics software spectrum and cementing the company's position as a leader in the logistics industry. The company has already begun cross-selling the Magaya, ACELYNK, and Catapult solutions to its newly-combined customer base, executing on its vision for growth.
ACELYNK is a leader in customs compliance software for the logistics industry that offers a best-of-breed automation commercial environment (ACE-certified) automated broker interface (ABI) solution focused on compliance, security, and technology. Catapult is a preeminent provider of freight rate management software. The combined offering delivers an unmatched competitive advantage for current and future Magaya customers and enables the company to broaden its reach to new industries and market segments.
The company extended its core product line in new and innovative ways, releasing several new solutions and updates this quarter to help customers stay compliant, boost efficiency, and streamline operations. These include the QuickBooks Online® extension, In-Bond 7512, and AMS Query, to name a few.
Also on the product front, Magaya was recognized as a Leader in both the Summer and Fall 2020 Grid® Report for Warehouse Management by G2.com, Inc., the world's leading business solutions review website. Magaya Supply Chain achieved the coveted Leader ranking by receiving positive reviews, receiving high scores across the board in the area of customer satisfaction, with 9 out of 10 customers likely to recommend Magaya.
About Magaya Corporation
Magaya Corporation develops the leading platform in logistics and supply chain automation, delivering robust functionality to more than 1,700 freight forwarders, 3PL providers, NVOCCs, warehouse managers, and courier companies. Our Magaya Supply Chain solution, combined with our collection of apps and extensions, is a powerful ecosystem that enables logistics and supply chain businesses to streamline complex and redundant processes, optimize productivity, reduce costs, and grow revenue. At Magaya, we are passionately devoted to ensuring our customers' success through our innovative solutions and comprehensive array of related professional services. We take great pride in our people, experts in the field of logistics automation, who are always willing to go the extra mile for our customers. Visit https://www.magaya.com to learn more.
SOURCE Magaya
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