Newgen Software targets teen revenue growth from AI demand
Newgen Software is aiming for revenue growth in the teens this year, thanks to increasing demand for its AI-powered solutions.
CEO Tarun Nandwani says the company expects an even better remaining two quarters after already seeing 8% growth.
This upbeat outlook comes from strong subscription bookings and hopes of closing some large deals that were delayed earlier.
Newgen Software landed 10 AI contracts
Despite an 18% dip in license revenue due to project delays in India and Asia-Pacific, Newgen is confident those deals will wrap up soon.
The company landed 10 new AI-related contracts last quarter, with three already live.
Newgen plans to keep investing in AI while maintaining healthy profit margins (20-22%), banking on its growing subscription business and ongoing innovation to drive future success.