Amid Tech Winter, RUNS Revenue Skyrockets 534%

Jakarta, April 4, 2023 – In the midst of the Tech Winter, where the performance of technology startups is scrutinized due to their loss-making performance, PT Global Sukses Solusi Tbk (RUNS) has shown the opposite. RUNS’ Operational Profit Margin (OPM) performance shows a figure of 14.71%, placing it in the top 10 out of 35 technology sector companies. This indicates that the company is capable of generating significant net profits. Meanwhile, for Gross Profit Margin (GPM), RUNS is listed as one of the top 3 technology companies, with a figure of 83.41%.

The impressive business growth and performance of this Yogyakarta-based company is also reflected in its audited consolidated financial statements for 2022, which have just been released. According to the report, the company earned revenues of IDR 31.28 billion, a growth of 534% compared to the previous year’s IDR 4.94 billion. From this result, RUNS managed to record a 132% increase in net profit, amounting to IDR 3.44 billion. This achievement is in contrast to the net loss of IDR 10.90 billion recorded in 2021.

This positive performance is supported by a significant increase in sales of 366% compared to the previous year. In addition, RUNS also demonstrates very good financial capability with a current ratio of 2,129.02%, placing it in the top 3 among the 35 technology sector companies. This is an indicator of the company’s financial health in meeting its short-term financial obligations.

RUNS’ CEO, Sony Rachmadi, revealed that in 2022, the company is focused on product development and expanding its market in various sectors and business classes. One of the corporate actions taken to support market penetration expansion was the acquisition of Solusi Kampus Indonesia (SKI), a market leader in Academic Information System solutions for higher education. In addition, the company also carried out another corporate action in the second semester of 2022 by conducting a 0.45% share buyback.

As of 2022, RUNS’ total assets amounted to IDR 86.02 billion, up 24% compared to the same period in the previous year of IDR 69.28 billion. Meanwhile, the amount of equity as of December 31, 2022 was recorded at IDR 73.61 billion, a 9% increase compared to the previous year’s period of IDR 67.70 billion, and the company’s EBITDA grew by 16% to IDR 6.05 billion. The company also strengthened its capabilities in the Artificial Intelligence (AI) and Data Science sector, and successfully obtained ISO 9001:2015, ISO 37001:2016, and ISO 27001:2013 certifications, which demonstrate the company’s commitment to maintaining the quality and security of its products and services offered to customers.

The company’s capabilities were also strengthened by the international recognition it received at the end of the year from the Asian Association of Business Incubation (AABI), namely the AABI Torch Best Entrepreneur Award 2022 in Beijing. This award adds to the international recognition of RUNS’ performance, as the company also received two international awards the previous year from EY – Singapore and Start-up Wheel – Vietnam.

With significant business growth and various strategic initiatives implemented, RUNS continues to show positive performance. Through its products and services, the company maintains its position as Indonesia’s leading ERP company.

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