The developer of MyOffice software ended 2023 with losses

A company representative spoke about the reasons for this. The Russian company that created the replacement for Microsoft Office ended the financial year with losses. DiscussThe developer of the MyOffice software ended 2023 with losses© Kirill Sh

The New Cloud Technologies company faced losses in 2023, reducing revenue by 44%. Company representatives attribute this to a decrease in import substitution, but experts argue that the reason is the availability of foreign alternatives.

Revenue of New Cloud Technologies decreased by 43.8% compared to the previous year, reaching about 1.9 billion rubles This led to a net loss of 5.2 billion rubles. Company employees hope for an increase in import substitution budgets in 2024 and note positive sales dynamics in early 2024.

Company representatives also point out that many foreign manufacturers, including Microsoft, have provided the opportunity to continue using their products. The founder of New Cloud Technologies expressed concern about the decline in the client base and the need to attract a strategic investor to get out of a difficult situation.