Quickie: DS gets closer to Medidata, reports CQ3 revenue up 11%
(This is the last one today, I promise!)
Dassault Systèmes just reported Q3 results that have non-IFRS total revenue up 10% to €914 million and software revenue of €798 million, up 11% as reported.
The press release mentions some big wins as well: DS reports that Toyota Motor Corporation is adopting the 3DEXPERIENCE platform, adding up to 40,000 users between now and 2023 and that 3DEXPERIENCE solutions will be used for engineering and manufacturing planning software for all new Advanced Development Programs in Aviation innovator Skunkworks at Lockheed Martin. We’ll need the earnings call to tell us exactly what people will be doing on the platform — and how much this might contribute to DS’ revenue.
DS has received US regulatory approval for its acquisition of Medidata, and now expects that to complete “in the coming days”. Assuming that acquisition closed before the end of October (meaning that Medidata will contribute revenue to DS for November and December), DS now sees 2019 non-IFRS revenue growth of 13% to 14% at constant currencies, to €4.015 to €4.055 billion.
Lots more to parse — more soon.