The developer of the Russian analogue of Microsoft Office suffered losses in 2023

NOTA revenue decreased to 1.9 billion rubles. The company received a net loss of 5.2 billion rubles against a profit of 386.5 million rubles in 2022.

New Cloud Technologies was founded in 2013. It specializes in the development of office solutions. Five years ago, Kaspersky Lab became one of its shareholders, initially becoming a 29.5% owner and later increasing the stake to 61.05%. Among the company’s products are the platforms “Documents”, “Text”, “Table”, “Presentation”, “Mail”, “Calendar”, “Contacts”, etc.

Representatives of the developer explained the financial results by several factors:

• First, they were affected by the general slowdown in the pace of import substitution of office software. While significant growth was seen in 2022, purchases in 2023 were below forecast values.

• Secondly, this was reflected in the lack of funding for the purchase of software by many government and semi-government organizations. In 2023, they only did pilot projects to implement NOT software.

• Third, many foreign manufacturers, including Microsoft, have left customers the option to continue using and purchasing licenses. Some companies have taken a wait-and-see attitude, but Microsoft’s recent notification about ceasing cloud services “will be a good reminder of the need for rapid import substitution.”

• Fourthly, the largest Russian companies prefer to purchase three-year licenses, which do not need to be purchased annually.

Since the beginning of 2024, NOT has observed positive sales dynamics compared to the first quarter of last year: MyOffice license sales volume increased by 126%, there was a double-digit increase in the number of small and medium-sized companies, as well as an increase in the average invoice in transactions.