Financial Year 2021 Annual Report
2021 continued a trend of exciting growth
Read our full FY21 annual consolidated financial statements and MD&A
Word from the President
“Fiscal 2021 was the first full year of implementation of our five-year strategic plan which focuses operational efforts and investments on our two high-growth platforms, Unified Commerce and Strategic Sourcing. Tremendous progress was achieved on many fronts and we’re proud of all that was accomplished by our employees. Product innovation, accelerated product development cycles, implementation of our organic growth plan, attraction and retention of top talent, strengthening of the executive team, changes on the Board of Directors as well as a stronger balance sheet are all accomplishments that position us favorably for the second year of implementation,” said Luc Filiatreault, CEO of mdf commerce. “The final quarter of fiscal 2021 continued a trend of exciting growth. We achieved solid revenue growth while also investing in our foundation to support our aggressive growth plan. We continue to win new customers and execute on large customer deployments. We are encouraged by the solid performance of our US-based Strategic Sourcing platform, and our overall sales pipeline continues to expand in tandem with our product offerings.”
At the heart of this plan is our transformation to a high-growth, cloud-based, SaaS commerce technology business.
Transformation on-track one year in
The past year marks the first, of our five-year strategic plan. At the heart of this plan is our transformation to a high-growth, cloud-based, SaaS commerce technology business. During an unprecedented global health and economic crisis brought on by the COVID-19 pandemic, we have remained focused on delivering to the needs of our clients and creating value for our stakeholders. Our success is driven by our employees, and we celebrate their many accomplishments during our transformational journey. The management team is confident that our talented team will meet new challenges as we move forward into the second year of our strategic plan. Overall, we are pleased with our year one progress.
Transformation on-track one year in
At the heart of this plan is our transformation to a high-growth, cloud-based, SaaS commerce technology business.
The past year marks the first, of our five-year strategic plan. At the heart of this plan is our transformation to a high-growth, cloud-based, SaaS commerce technology business. During an unprecedented global health and economic crisis brought on by the COVID-19 pandemic, we have remained focused on delivering to the needs of our clients and creating value for our stakeholders. Our success is driven by our employees, and we celebrate their many accomplishments during our transformational journey. The management team is confident that our talented team will meet new challenges as we move forward into the second year of our strategic plan. Overall, we are pleased with our year one progress.
About mdf commerce
mdf commerce inc. (TSX:MDF) enables the flow of commerce by providing a broad set of SaaS solutions that optimize and accelerate commercial interactions between buyers and sellers. Our platforms and services empower businesses around the world, allowing them to generate billions of dollars in transactions on an annual basis. Our Strategic Sourcing, Unified Commerce and emarketplace platforms are supported by a strong and dedicated team of approximately 700 employees based in Canada, the United States, Denmark, Ukraine and China. For more information, please visit us at mdfcommerce.com, follow us on LinkedIn or call at 1-877-677-9088.
About mdf commerce
mdf commerce inc. (TSX:MDF) enables the flow of commerce by providing a broad set of SaaS solutions that optimize and accelerate commercial interactions between buyers and sellers. Our platforms and services empower businesses around the world, allowing them to generate billions of dollars in transactions on an annual basis. Our Strategic Sourcing, Unified Commerce and emarketplace platforms are supported by a strong and dedicated team of approximately 700 employees based in Canada, the United States, Denmark, Ukraine and China. For more information, please visit us at mdfcommerce.com, follow us on LinkedIn or call at 1-877-677-9088.
FY21 in numbers
Amounts below are expressed in Canadian dollars
FY2021
total revenue
%
growth year-over-year
Total FY21 revenue: $84.7M
Unified
Commerce
%
growth year-over-year
Total FY21 revenue: $37.3M
Strategic
Sourcing
%
growth year-over-year
Total FY21 revenue: $32.7M
emarketplaces
(25.3%)
year-over-year
Total FY21 revenue: $14.7M
Results
$5.7M
Adjusted EBITDA*
($7.6M)
Net Loss
emarketplaces
(25.3%)
year-over-year
Total FY21 revenue: $14.7M
Results
$5.7M
Adjusted EBITDA*
($7.6%)
Net Loss
* Non-IFRS measures. Additional details for these non-IFRS measures can be found in our Management’s Discussion and Analysis for the year ended March 31, 2021.
our strategy is focused on
five transformational pillars
Becoming a single SaaS company
Accelerating product development
Scaling customer acquisitions
Ongoing merger, acquisition and integration
Ongoing merger, acquisition and integration
Cultivating culture, talent and productivity
FY21 of mdf commerce:
get the full picture*
* Certain statements in our continuous disclosure documentation constitute forward-looking statements. Additional details to this effect can be found in our Management’s Discussion and Analysis for the year ended March 31, 2021.