The sharp decline prompted a response from longtime shareholder Richard Holway on TechMarketView. According to Holway, “concerns, both in recent performance and outlook, centred on the lack of revenue growth.” But revenue growth is not a primary objective for the company, Holway notes. Instead, Micro Focus will proceed with the goal of increasing shareholder returns.
As I noted in my initial analysis following the acquisition, this investors-first, cost cutting strategy means that instead of investing in building a better product for their customers, Micro Focus plans to focus on profit maximization for its shareholders. Now, a few months in, we can see the realities of that decision beginning to come to fruition. We believe this is only the start of a downward spiral for Micro Focus and are enjoying the benefits of their customers and partners seeking QASymphony out at an accelerated pace.
At QASymphony we are taking very different approach by focusing on investing in the future of our products and our customers. In January, we reported our record 2017 results, which included annual revenue growth of 113 percent. Other 2017 highlights include:
Grew customer base by 33 percent, including numerous Global 2000 customers
Created an external Innovation Advisory Board to support rapid product innovation in 2018 and beyond
QASymphony has also increased R&D spend by more than 80 percent since 2016, with the goal of significantly investing in our products to help enterprises prioritize quality, develop more reliable software and increase speed to market.
In 2018, you can expect significantly increased investment in both our partner community and our growing suite of QA solutions.
We will continue to invest in our partnerships to cement our commitment to maintaining the most flexible ecosystem in the industry, which enables our customers to integrate with best-of-breed and emerging tools to significantly streamline workflows in agile and DevOps environments.
Keep an eye out for significant updates to the qTest platform in early 2018. We’ve already released the first update, qTest 8.9, which enhances our integration with Jira. You can read more about it here. Future releases will introduce highly differentiated functionality that helps your team shift testing left, automate more and accelerate release timelines. That’s all I can say for now, but I think you’ll be pleased with what we have planned. Stay tuned.