Sngular’s 2021 Year-End Numbers Exceed the Company’s IPO Projections

Sngular’s 2021 Year-End Numbers Exceed the Company’s IPO Projections

May 28, 2024

  • Sngular reports revenues of nearly €60 million for 2021, and a 15% net margin.
  • A mere three months after it began trading on the BME Growth exchange, Sngular is now on the IBEX Growth Market® 15 index, which lists the companies with the highest trading volume on the BME Growth exchange.

Madrid, April 4, 2022.- According to its recently released audited financial statements, Sngular closed its 2021 fiscal year with record revenues of €59.2 million, a 30.2% increase over fiscal year 2020. The company also reported an EBITDA increase of 36.1% to €8.7 million and a 23% increase in its headcount.

These results demonstrate the ongoing consolidation of the company’s leadership position in the technology industry.

Sngular, which went public on the BME Growth exchange on Dec. 1, 2021, has already become part of the IBEX Growth Market® 15 index, which lists the 15 companies with the highest trading volume on the BME Growth exchange. At the close of trading on April 1, the company’s market capitalization was €225.104 million.

José Luis Vallejo, Sngular’s President and Founder said: “2021 was a year of incredible growth. One of our goals in going public in late 2021 was to further accelerate that growth. The exciting addition of Corunet and Acilia to Sngular in early 2022 is evidence that we continue to grow by adding teams of professionals who complement our capabilities and further help us attract the best tech talent.”

“Our main objective continues to be growing and diversifying in terms of clients, geographies and the types of services we offer, all while remaining committed to maintaining a business culture that fosters the maximum development of our teams,” he added.

When it went public, Sngular (ticker: SNG) had forecasted that it would close 2021 with €57 million in revenue (a 26% increase over 2020) and an EBITDA of 14%, a 31% increase over 2020). Commenting on the company’s remarkable success in 2021, Sngular’s Corporate Managing Director Ignacio García, said: “We’ve far exceeded our forecasts when we went public and that will allow us to face 2022 with optimism and the resources needed to continue our trend of remarkable growth.”

According to Vallejo, Sngular’s excellent results reflect its commitment to putting the best technological talent at the center of the organization so that its teams can create and execute innovative and transformational technology-based projects. This has had a positive impact on both clients and Sngular’s ability to attract and retain talent in an industry facing a shortage of professionals due to high demand.

Vallejo added that the company expects to continue its current growth path with new additions to the Sngular ecosystem. In recent years, Sngular has acquired firms such as Exevi, ASPGems and Manfred. This year alone, Sngular has added tech standouts Corunet and Acilia to its lineup, and recently announced the hiring of 30 software engineers in Portugal to further strengthen the company’s talent pool.

About Sngular

Sngular is an international technology consultancy that works as an ecosystem to provide a host of technology services and solutions to many of the world’s leading companies in industries as diverse as energy, financial services, health care, retail, telecommunications, and manufacturing.

At the core of Sngular’s success over the years has been an unwavering commitment to the importance of talent. In the words of Sngular’s founder, “this company is built on the premise that we must attract, develop, empower and retain the best technology talent in the world.”

Having the best talent has allowed Sngular to develop what the company calls its “adaptive advantage.” Put simply, “adaptive advantage” is the ability to respond quickly to the challenges faced by our clients in an increasingly competitive and everchanging world economy. It is the ability to be creative, fast, flexible, and, above all, solutions driven.

With more than 1,200 employees in 18 offices across 8 countries (Spain, U.S., Mexico, Chile, Portugal, Uruguay, UAE and Singapore), Sngular has teams of specialists in a wide range of capabilities including design, custom software engineering, cloud, IoT, AI, VR, MarTech and Blockchain, among others. In addition to these teams, Sngular also has business units specializing in hiring and developing technical talent (Manfred by Sngular), and learning (TeamLabs by Sngular). Beyond that, Sngular also has a startup accelerator (Sngular Ventures), and a content production company (Sngular Media).

As was recently disclosed when Sngular began trading on the BME Growth exchange (ticker: SNG), Sngular has seen average annual revenue increases of 30% over the past five years and has been able to accomplish this growth while also diversifying its client base across the globe and across industries. Today, Sngular’s Spain operation (and country of origin) represents 60% of its global revenue.