orderbird AG Announces Growth in Recurring Revenue during a Time of Unprecedented Challenges
orderbird AG, the Berlin-based technology company focused on making independent restaurants more successful, announced today its unaudited financial results for the first half of calendar year 2020, stating that it finished the period with an Annual Recurring Revenue (ARR) run rate of EUR 10 million with expectations to finish the year at an ARR run rate of EUR 12 million.
“This year has been an unprecedented time of difficulty and challenge for the hospitality sector,” said CEO Mark Schoen. “But before and after the coronavirus lockdown, restaurateurs have been accelerating their adoption of modern digital solutions in order to survive and grow in this stressful environment. With our solutions, they easily conform to new fiscal and tax laws, accept cashless payments, and drive efficiency in their operations.”
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