- Attained cashflow break-even and profitability for the first time
- Became EBITDA positive
- Achieved revenue growth of ~65% on an adjusted basis
- Reduced outstanding debt balance by 40%
- Delivered over 100 digital engagement projects
2018 was the strongest year in Kurtosys’ history. The company attained cashflow break-even for the first time in May and became EBITDA positive in June. We achieved both milestones well ahead of plan while managing to increase revenue growth by ~35%, and ~65% on an adjusted basis (excluding the termination of legacy products). Throughout the year, we heavily invested in product, pushing out new features every two weeks while simultaneously making significant investment in customer support and operations to improve our customer experience. Lastly, with strong cash flow, we reduced our outstanding balance by 40%.
Kurtosys enables financial services firms to reduce time-to-market for websites, marketing documents and content portals by over 50%. We delivered over 100 digital engagement projects on our platform during 2018 heralding a new execution record for Kurtosys. Our customers are now able to deliver projects faster and with less execution risk.
Product innovations continue to drive improved performance. Our platform has expanded significantly after setting aggressive targets for our roadmap at the beginning of the year. Our focus was on militant execution. During the year, we launched our distribution portal technology, a brand new Production Centre for marketing document production and many new feature enhancements requested by our global customers. In addition, we launched our portfolio construction portal which incorporated capabilities required by sales and marketing teams in the institutional space.
Separately, we extended our integrations with key platforms including Salesforce and marketing automation systems such as Eloqua, Pardot, Hubspot and Marketo, and we introduced our Single Sign-On architecture. We invested in and strengthened our infrastructure and ensured that we can offer our customers best in class technology with regards to disaster recovery, monitoring and alerting and security surveillance. Our investment in advancing our platform and technology significantly paid off, and most importantly, our customers benefited from our investment.
This year we laid the foundation for an outstanding 2019 in which we’ll continue to invest in our product roadmap and increase customer satisfaction and utility. We expect to repay our outstanding debt balance, build a substantial cash reserve, increase profitability and grow revenue on an adjusted basis by 30%+. Meanwhile, we anticipate to significantly expand in our field sales team and channel expansion opportunities positioning us for strength into the future.
We are tremendously proud of the Kurtosys team for these unprecedented achievements, and for all the results we’ve delivered for our customers in 2018.