Magaya Starts 2022 Strong, Surpasses Q1 Revenue Goals
Miami, FL – April 14, 2022 – Magaya Corporation, the leading provider of end-to-end logistics and supply chain automation software, today announced an exceptional start to 2022, surpassing its ambitious revenue goals and delivering solid revenue and profitability in the first quarter, a testament to its highly differentiated Digital Freight Platform and outstanding customer service.
Net new ARR accelerated revenue growth by more than 30% in the first quarter driven by new customers and an unprecedented net retention rate of greater than 98% as existing customers adopted more capabilities across the platform. Additionally, Magaya continued to increase EBITDA growth during the first quarter of 2022 and is committed to balancing growth and profitability.
Automation is the driving force of the logistics industry’s digital revolution and fundamental to driving efficiency, improving employee satisfaction, and strengthening customer relationships. These positive changes are necessary to successfully navigate today’s complex supply chains and establish a sustainable competitive advantage. The Magaya Digital Freight Platform is providing freight forwarders with the functionality and intelligence they need to do just that.
Business Highlights for Q1 2022 include:
- Released Quote Automation by Magaya, a revolutionary inland freight quote automation solution – the first of its kind to automate the manual process of receiving inland quote requests, gathering rates from multiple carriers, and preparing, formatting, and sending quotes using leading-edge AI technology.
- Added 74 new logos to the portfolio of global customers, including powerhouse brands such as Panasonic, Sysco International Food Group, and many more. Jointly with our reselling partner <cargonerds>, we also welcomed Röhlig Logistics as a new Magaya customer.
- Named an Inbound Logistics Top 100 Logistics IT Provider for 2022, now several years consecutively.
- Named to the Leader quadrant in three G2 Spring Grid Reports for Freight Management, Supply Chain Suites, and Warehouse Management.
- Announced a strategic reseller partnership with <cargonerds> to scale its global footprint.
- Magaya CEO Gary Nemmers named a winner of Supply & Demand Chain Executive’s 2022 Pros to Know Award, recognizing outstanding executives whose accomplishments offer a roadmap for other leaders looking to gain a competitive advantage with supply chain advancements.
“We set the bar high for ourselves with some ambitious revenue and product goals this year, so a strong Q1 gives us great momentum for the rest of the year,” commented Gary Nemmers, Magaya CEO. “It’s an exciting time for the logistics industry as we see an acceleration in the development and adoption of smarter, more efficient digitized solutions that make shipping better for all stakeholders, from the BCO to the freight forwarder, shipping lines, and more. Looking ahead, we feel confident in our market-leading position in delivering modern, digitized solutions that will continue to drive our future growth at scale.”
Magaya delivers a Digital Freight Platform that accelerates growth with flexible, interoperable, and modular cloud-based solutions designed to optimize and digitize end-to-end logistics operations and customer experience. Whether used together as an integrated digital freight platform or independently, Magaya solutions enable businesses of all sizes to streamline complex and redundant processes, enhance the customer experience, optimize productivity, reduce costs, and grow revenue. At Magaya, we are passionately devoted to ensuring our customers’ success through our innovative technology and comprehensive array of related professional services. We take great pride in our people, experts in the field of logistics automation, who are always willing to go the extra mile for our customers. There are no limits to your growth with Magaya. Visit magaya.com to learn more.