New Cloud Technologies company faced losses in 2023 and its revenue decreased by 44%. Company representatives attribute this to the decrease in import substitution, but experts argue that this is due to the availability of foreign alternatives.
Revenue from New Cloud Technologies decreased by 43.8% compared to the previous year, reaching approximately 1.9 billion rubles. This led to a net loss of 5.2 billion rubles. Company employees hope to increase budgets for import substitution in 2024, noting positive sales dynamics at the beginning of 2024.
Company representatives also point out that many foreign manufacturers, including Microsoft, provide the opportunity to continue using their products. The founder of New Cloud Technologies expressed concern about the decline in the customer base and the need to attract a strategic investor to get out of the difficult situation.
Source: Ferra
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