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Citrix is looking to tap into the potential of its existing customer base after identifying a significant opportunity that its channel partners could target.Content Continues Below
The vendor has been updating the market with its performance in its fiscal fourth quarter and full year, with David Henshall, CEO and president at Citrix, sharing his thoughts about market opportunities with analysts.
“We believe our penetration in our existing customer base is only 25% or 30% of the available seats. We believe we’re just beginning to scratch the surface on our longer-term opportunity to both expand within our installed base and also to attract new customers,” he told analysts in a conference call.
“Within our Workspace business, we have an opportunity to dramatically expand our footprint in our current customer base, beyond those who require virtualisation to everyone in the organisation,” he added.
Henshall added that the firm was also continuing to take steps to make life easier for its channel: “We’ve eliminated complexities within our own organisation to make it easier for our customers and our partners to do business with us. The foundational work that we’ve done and the changes we continue to fine tune support the exciting growth opportunities we see for Citrix in the years ahead.”
In terms of the numbers of the fourth quarter and full year, to 31 December 2018, performance was up on the previous 12 months. Net income in the fourth quarter came in at $166m, which compared with a loss of $284m in the same period in 2017 on revenues of $802m. For the full year, revenues improved by 5% to $2.97bn.
The portion of business coming from subscriptions now stands at 16% of total revenue in the fourth quarter, compared with 12% a year ago. The decline in product and licence revenue has been offset by the increase in SaaS sales, which are growing.