Canonical Saw $251M In Revenue Last Year, Grew To More Than 1K Employees
Canonical reported their revenue for 2023 at $251 million USD, which is up nicely from $205 million reported in 2022. Their gross margin is slightly lower though dropping from 82% to 80%. They reported a cash flow of $47 million from $62 million the year prior. Their profit for the financial year was $12.5M that is up nicely from $3.9M the year prior.
In 2023 their average headcount was at 1,034 compared to 858 the year prior. Canonical continues staffing up a lot for their enterprise/professional customer needs.
These numbers are more than double their headcount and revenue from just a few years ago when they were still operating at a loss. Or see this older article for a look at their revenue and headcount over the course of a number of years. Canonical continues moving in the right direction. It appears much of their recent financial uplift comes from Ubuntu Pro paid customers and subscription and services up-sales in the public cloud channel. Canonical's statements note that "significant product launches" are scheduled for 2024 in these business lines.
Those curious about the financial health and performance of Canonical can find the recently published data on Companies House. Over the years there has been on and off talk of Canonical potentially carrying out an IPO -- most recently of plans for it to happen in "2023", we'll see if/when it finally occurs with their financial performance continuing to improve and the company continuing to explore more into professional offerings especially in the cloud and Ubuntu doing well with all the hype around "AI".
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