Software AG recently reported financial results for the third quarter and first 9 months of 2020, ended September 31st2020.

Revenue for the quarter was EUR 185.4 million, registering a decrease of 17% from EUR 224.2 million the same period last year. Gross profit dropped by 19% to EUR 142.2 million and net income shrank by 68% year over year from EUR 44 million, reaching EUR 13.9 million.

For the first 9 months of 2020 we register the following results: Revenue drops by 6% totaling EUR 597 million, gross profit drops by 8% to EUR 447 million while net income also has a 48% decrease equaling EUR 55.8 million.

By segments, revenues from Licenses went down by 39% to EUR 38.9 million, those from Maintenance dropped by 5% at EUR 103.4 million, SaaS/Usage based equaled EUR 7.9 million with a 38% growth, Services dropped by 22%, totaling EUR 35.1 million and Other decreased by 97% to EUR 6 thousand.

For the 9M period Licenses totaled EUR 130 million dropping by 17% compared to 9M 2019, Maintenance dropped by 2% reaching EUR 317.9 million, SaaS/Usage Based grew by 38% to EUR 22.2 million, Services shrank by 8% to EUR 126.7 million while Others dropped as well 57% to EUR 215 thousand.