RBC: MyOffice software developer greatly reduced revenue and became unprofitable
At the end of 2023, the revenue of the New Cloud Technologies (NOT) company decreased by 43.8 percent compared to 2022. About it writes RBC.
The profit of the Russian software developer MyOffice amounted to about 1.9 billion rubles, while the net loss was recorded at around 5.2 billion.
A representative of NOT explained the annual loss rate by a general decrease in the rate of import substitution of office software. In addition, the company
pointed to continued competition with Western corporations, despite their withdrawal from Russia. In particular, Microsoft Corporation has left Russian customers the opportunity to continue using its products and even purchase licenses.
Another factor noted by NOT was the peculiarities of the Russian market, when customers buy licenses for several years at once, refusing annual payments.
#developer #Russian #software #MyOffice #unprofitable
