Cloud and Connectivity provider, Exponential-e, has been recognised in the Megabuyte50 awards as one of the best performing, privately-owned technology companies that is headquartered in the UK with current revenues of over £60 million. Of the 50 leading companies included in the analysis, Exponential-e ranked 16th overall and first among the 10 companies that were included from the telecoms and networking sector. Megabuyte's scorecard criteria examined factors such as revenue growth over three years, EBITDA performance and organic growth.
"The Megabuyte50 is one of the most rigorous growth awards that exists and breaking into the top 20 is a testament to our financial strength and stellar performance over the past three years," reflected Lee Wade, CEO of Exponential-e. "Increasingly, we are seeing that technology companies are forming a vital part of the UK's mid-market and we are proud to be recognised as a rapid-growth company that is pushing development of the industry and helping foster a more bullish attitude about the future of UK businesses."
The company was applauded for maintaining a consistent level in EBITDA margins with excellent operating cash conversions and all cash flows reinvested back into the business. Megabuyte50 also anticipates that Exponential-e will sustain its growth trajectory with the development of new services that support hybrid-Cloud deployments. Over the next financial year, Exponential-e will continue to maintain its focus on challenging the boundaries within IT and telecoms by investing 10 per cent in research and development and aiming to expand its current headcount to 370 by the end of 2015.
"As the UK looks to establish itself at the front of the digital economy, we are witnessing an increase in demand for technology that can help organisations to achieve growth and innovation," commented Lee Wade, CEO of Exponential-e. "We are determined to maintain double-digit growth by concentrating on developing solutions that help our customers to succeed. Our future growth will come from our ability to continue offering customers smarter, disruptive solutions that can be scaled globally through our Cloud presence."
The Megabuyte50 awards aim to shine a light on the best privately owned software, IT and telecoms services companies in the UK mid-market. Megabuyte uses a weighted proprietary analysis methodology for the award that gives a balanced reflection of each company and its performance. This award is the latest in a range of accolades for Exponential-e as it has secured inclusion in the London Stock Exchange's ‘1000 Companies to Inspire Britain' and was featured in the Investec Mid-Market 100 Index.