Financial performance

• Serving a wide range of SMBs across diverse geographies, with deep expertise across financials, payroll and HR.
• Broad ecosystem of partners, accountants, resellers and
  ISVs who enrich and expand the reach of our offering.
• Solutions backed by business advice and human
  customer support.

19 countries

• Rolling out global cloud solutions across our markets, led by Sage Intacct.
• Adding value to existing and new customers by delivering new cloud services.
• Scaling and leveraging the Sage Network to deliver innovative AI-powered solutions, transforming the
  workflows of SMBs.

£342m R&D spend
in FY23

• Focused on scaling the business, with growth creating headroom to increase investment and expand margins.
• Growth supported by favourable SMB drivers including the need to raise productivity through digitalisation and compliance.
• Strong commitment to ESG supporting the long-term sustainability of Sage.

ARR growth 11%
in FY23

• High-quality revenue base which is over 96% recurring, with 79% from software subscription.
• Highly cash generative, low capital intensity business, with underlying cash conversion over 100% for each of the last five years.
• Organic and inorganic investment balanced with dividends and additional capital returns to shareholders where appropriate.

Cash conversion 116%
in FY23