WorkWave Continues to Deliver Strong Performance with Over 50% Growth while maintaining 98% Gross Retention Rate

The company continues to showcase strong, well balanced performance in Q2'23 as it approaches half a billion in revenue

HOLMDEL, N.J., July 27, 2023 /PRNewswire/ -- WorkWave®, a leading provider of SaaS software solutions that support every stage of a field service business's life cycle, concluded Q2 2023 with strong, well balanced performance, delivering 51% growth in total software bookings, 54% growth in new customers and 98% gross retention rate, compared to the same period last year.

"WorkWave is now reaching a level of maturity where all areas of the business are best in class - our technology, services, and customer support, all consistently demonstrate that WorkWave is the right partner, especially as so many technology companies face real challenges," remarked David F. Giannetto, CEO of WorkWave. "Our consistent quarter-over-quarter performance underscores our commitment to our customers, as evidenced by our impressive customer retention and growth rates. We are both gaining more new customers, while retaining existing customers, and this is a credit to the entire WorkWave team that has been able to adapt and lead despite any changes in the markets around us."

In addition to exceptional retention and new customer growth rates for Q2, the company continued to achieve an overall positive performance with approximately 40% total recurring revenue growth year-over-year.

Recently, WorkWave announced the rollout of TEAM by WorkWave, the next generation of its Timegate platform across the North American and Europe, Middle East and Africa (EMEA) regions. TEAM by WorkWave is a streamlined, powerful ERP that enables cleaning, janitorial and security companies to more efficiently conduct their operations and more effectively scale and manage their business.

Additional key milestones from Q2 2023 include:

• ServMan by WorkWave launched online scheduling through an integration with ServiceBot to allow for easy, efficient and hands-off online scheduling, enabling ServMan customers to automatically capture leads and close sales faster.
  
  
• The launch of WorkWave Payments support in both Canada and the UK to further expand the value of WorkWave's fully integrated and automated payments platform.
  
  
• Further enhancements to WinTeam and TEAM by WorkWave, the enterprise solutions for cleaning, security and facilities management providers, including additional employee tools and an integration with Orka for additional labor management.
  
  
• Increased innovation to RealGreen's Mobile Live, including Spanish language support, the mobile application that improves technician productivity in the field and drives greater customer satisfaction through robust functionality.
  
  
• WorkWave opened registration and announced the keynote speaker for its 2024 Beyond Service User Conference which brings together over 1,000 customers, partners and WorkWave experts for multiple days of networking, educational sessions and engaging keynotes.

WorkWave remains committed to empowering its customers with the broadest and deepest field service software that optimizes operations, enhances customer experiences and drives business growth. 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.

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SOURCE WorkWave