Technology company reports top performance with 38% increase in year-over-year revenue
ATLANTA, Feb. 21, 2024 /PRNewswire/ — Utility, Inc., the leader in innovative, digital systems tailored for frontline professions, announced the close to its 2023 fiscal year, with annual revenues totaling $60 million, a 38 percent increase over 2022. Increased engagement with an expanded range of law enforcement including hospital, university, public school, and airport security agencies, paired with Utility’s ongoing investment in new product offerings and international expansion, contributed to the company’s performance. Notable 2023 financial insights include:
$71 million in total contract bookings for the year
42% increase in recurring revenue, year-over-year
58% increase in gross margin, year-over-year
178% increase in operating income, year-over-year
31% staffing increase, year-over-year
“As we conclude 2023, we are honored to be the evidence management technology provider of choice for our new and existing clients who trust Utility …