Persistent Systems Reports $125.5 Million Revenue, 4.9% Q-o-Q Growth For Q2FY20

News Summary:

Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company’s audited financial results for the second quarter ended September 30, 2019, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended September 30, 2019:

Christopher O’Connor, CEO & Executive Director, Persistent Systems:

“We’ve been relentless in helping our customers see beyond their current needs. Our focus is on creating organic growth across the board and releasing constraints in our business processes. This quarter’s work included positioning our brand for customer recognition and success. We see positive outcomes from this focus and intend to be even more agile in addressing our customers’ needs and their business, ultimately helping them rise above their competition.”

Key Wins During the Quarter

Banking, Financial Services, and Insurance

• Consulting and platform development for a leading US-based independent retirement and college savings services provider
• Digital platforms to support business lines for a US-based direct writer of Surety and Fidelity bonds and insurances
• Product Lifecycle Management licensing engagement for an American manufacturing insurance company

Life Sciences & Healthcare

• Building care-coordination platforms to help payers adopt and embrace value-based reimbursements for a leading US-based healthcare platform provider
• Digitizing referral management and clinical services authorization process for a US-based not-for-profit, healthcare delivery system

Industrial

• Engineering Lifecycle Management licensing engagement for a French industrial group specializing in naval defense and marine renewable energy
• Engineering engagement in the robotics area for a provider of autonomous systems, simulators, industrial equipment and engineering services in the defense and security sector

ISV & Emerging Vertical

• Product engineering engagement to build a hybrid cloud management platform for an American multinational information technology company
• Big data and business intelligence licensing engagement for an American multinational information technology company
• Outsourced development center for one of the leading providers of home service plans in the US to help develop a digital customer engagement platform

Highlights

New Solutions

• Persistent Digital Bank Solution™
• Persistent Self-Sovereign Identity Solution™

Recognition

• OutSystems 2019 Most Valuable Partner of the Year Award
• IBM Business Partner Excellence Award for Engineering (ELM) Solutions
• Constellation ShortList™ Q3 2019 for Innovation Services and Engineering
• SHRM Excellence in Learning and Development Award

Client Outcomes

• Artel improves ROI by 30%, ensures reliable lab results and improved quality of life for patients
• Empirix helps mobile carriers monetize data with advanced analytics and cuts development time by 50%
• HM Land Registry leverages Blockchain to simplify home buying in England and Wales
• SWAYAM reaches millions of learners across India through a new cloud-based solution

Other Highlights

• Persistent, PCCM, and IISER Pune organize the first Cancer Genome Atlas Conference and Workshop in India
• First organization in India to receive the new edition of the Greenhouse Gas emissions certification

About Persistent Systems:

Persistent Systems (BSE & NSE: PERSISTENT) builds software that drives the business of our customers; serving software product companies and enterprises with software at the core of their digital transformation.

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit FLCS

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