Magaya Closes a Successful First Half of 2022 With Strong Financial Performance
Magaya Corporation, the leading provider of end-to-end logistics and supply chain automation software, today announced a strong second quarter 2022, meeting its ambitious revenue target and further demonstrating positive momentum, a result of the strength of its business model and strategy.
Magaya Corporation, the leading provider of end-to-end logistics and supply chain automation software, today announced a strong second quarter 2022, meeting its ambitious revenue target and further demonstrating positive momentum, a result of the strength of its business model and strategy.
With a continued focus on its core strengths and attention to operational excellence, Magaya delivered another solid financial performance for the first half of 2022. Following on its Q1 success, Magaya achieved net new revenue growth for Q2 in alignment with the growth plan of 30%, while maintaining an outstanding customer retention rate of more than 92%.
“We remain focused on delivering solutions that help our customer base build a stronger business by digitizing operations that enable resiliency.” – Gary Nemmers, Magaya CEO.
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As logistics service providers and their customers pivot from previous pandemic-era challenges to address rising inflation and an impending economic downturn, it becomes more important than ever to find new ways to boost resiliency, efficiency, and agility. The Magaya Digital Freight Platform provides the unified foundation logistics service providers need to make smart use of digitization and automation to overcome the latest challenges at hand.
Business Highlights for Q2 2022 include:
- Added 17 new logos to the portfolio of global customers, including Scoular, The Port Group, and others.
- Named once again to the Leader quadrant in three G2 Grid Reports for Freight Management, Supply Chain Suites, and Warehouse Management.
- Announced a strategic reseller partnership with cargonerds to scale its global footprint.
- Released enhancements for role-based security, attachment configuration, and shipments fields in the 11.5.5 version of Magaya Supply Chain.
- Enhanced automation capabilities of Magaya Customs Compliance to expedite the creation and submission of Air AMS, ACAS, and Type 86 entries by uploading one Excel document for all three fillings.
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“We are very cognizant of ongoing challenges in the wider macro environment as well as the hurdles standing between logistics service providers and the complete digitization of their logistics processes,” commented Gary Nemmers, Magaya CEO. “We remain focused on delivering solutions that help our customer base build a stronger business by digitizing operations that enable resiliency. The outlook for the balance of the year remains positive, as we expect fundamental trends in digitization to continue.”
