After another successful quarter with a remarkable 65% year-over-year growth in new revenue bookings, TraceGains shared findings with the food and beverage community at large. This announcement marks four consecutive quarters of record-breaking growth for the company, cementing its position at the epicenter of the F&B supply chain.
Product innovations and network growth
TraceGains leadership credits cutting-edge product innovations, strategic product launches, and an extensive international footprint for the largest single-quarter revenue increase over the past year. In addition, Q3 saw the company expand its market-leading network, now comprising 24,000 suppliers representing over 69,000 supplier locations in 156 countries.
Mike Hubbard, senior vice president of revenue, expressed his confidence in the company’s global position, stating, “We are experiencing unparalleled market momentum, and our flywheel is in full motion to deliver organic revenue growth. Our network is thriving, and we are delighted to welcome international industry mavericks like Hovis and HIT Tomato in Europe, George Weston Foods in Australia, and Monde Nissin in the Philippines to our ecosystem. Market interest in our Compliance Suite and Networked Product Development Suite (NPD) solutions rose, so I expect another record-breaking revenue bookings year.”
Throughout these impressive increases, TraceGains remains committed to its mission of driving innovation, fostering growth, and providing value to its global community of buyers, suppliers, and global business partners. Learn more about how the organization continues to pursue these goals through its networked ingredients marketplace and full ecosystem of solutions in the full press release from Yahoo Finance.