WorkWave Achieves Continued Strong Performance With 36% Revenue Growth and 120% Net Revenue Retention in Q1 2023

The company continues to deliver superior performance across all areas of the business and all key metrics despite economic headwinds

HOLMDEL, N.J., April 26, 2023 /PRNewswire/ -- WorkWave®, a leading provider of SaaS software solutions that support every stage of a field service business's life cycle, maintained its market success with overall revenue growth up 36% year-over-year (YoY) and a 120% net retention rate in Q1 2023. Total software bookings growth is up 42% YoY, giving strong indications that WorkWave will approach the half-a-billion revenue mark this year.

"While many of our competitors continue to struggle against the current macroeconomic headwinds, WorkWave continues to perform well, maintaining a solid footing that allows us to protect our customers and employees, while strengthening our leadership position," said David F. Giannetto, CEO of WorkWave. "I continue to be impressed by the adaptability of the WorkWave team, and their ability to continue to progress our technology, improve our value proposition and deliver industry-leading innovation despite the diverse macro-challenges the world presents."

Key milestones from Q1 2023 include:

• WorkWave's annual Beyond Service User Conference this past January, bringing together over 1,000 customers, partners and WorkWave experts for multiple days of networking, educational sessions and engaging keynotes.
• The launch of ServMan Mobile 2.0, giving ServMan customers the power to operate from anywhere utilizing the new, modernized mobile app that streamlines workflow, greatly improves communication and enhances the overall customer experience. Further modernizations to the ServMan platform will come later this year.
• Kicking off the migration of TEAM Software's Timegate customers to its newly released next-generation cloud-based platform, TEAM by WorkWave. The first migrations to the new platform are already completed.
• WorkWave released its full-service Communication Center that streamlines and unifies end-customer interactions across multiple types of interactions to improve the customer experience, customer service and the greater workflow from lead to completion of service.
• Complete attribute tracking for marketing spend ROI with the release of Closed Loop Marketing, creating a strong connection between Sales Center and main platforms, supported by unified digital and print marketing services under the Coalmarch brand.
• Additional enhancements across WinTEAM work orders, TEAM by WorkWave reporting and analytics, Sales Center tracking, and RouteManager dispatching.

Katie Wood, Director of Finance and HR at Termio, has already found great success with WorkWave's Communication Center creating a better experience for her customers. "Communication Center has helped us to get more in touch with our customers and be able to provide an experience for them that they don't often get when it comes to pest control. [Communication Center] elevates our customers' experience," said Wood. "We've been really excited to see some of the metrics that we hold for ourselves that we're meeting and exceeding — those that we've never been able to do before."

To learn more about WorkWave and its product offerings, please visit workwave.com.

About WorkWave

As the field service software industry leader for over 40 years, WorkWave delivers technology and services to help field service companies to grow their business, service their customers and maximize their money. Its solutions support every stage of a business life cycle, including marketing, sales, service delivery, customer interaction and financial transactions. WorkWave is a trusted partner for thousands of customers across a wide variety of industries, including pest control, lawn care, cleaning, HVAC, plumbing and electrical, and last-mile delivery. WorkWave has been recognized as an Inc. Power Partner, a Top 100 Software Company, and a Cloud Award winner. For more information, visit workwave.com.

SOURCE WorkWave