O9 Reports 37% Annual Recurring Revenue Growth
During Q2 2024, O9 completed multiple go-lives across North America, EMEA and APAC regions
O9, an enterprise AI software platform provider has announced a 37 per cent year-on-year increase in its annual recurring revenue (ARR) for Q2 2024.
This growth is attributed to the ongoing recognition of O9's AI-powered integrated business planning platform as the Most Valuable Platform (MVP) of the Enterprise.
During Q2 2024, O9 completed multiple go-lives across North America, EMEA and APAC regions. These implementations encompassed a wide range of capabilities, including Demand Planning, Supply Chain Master Planning, Supplier Relationship Management and Financial Planning. Leading brands in retail, automotive, food services and technology were among the beneficiaries, underscoring the flexibility and comprehensive nature of O9’s platform.
The quarter also saw O9 expanding its client base and enhancing its offerings to existing clients across diverse industries and geographies. Noteworthy additions included one of South Korea's largest steel producers, a specialty medical device manufacturer, a global consumer electronics manufacturer and several consumer packaged goods companies.
O9's global workforce grew to over 3,000 employees in Q2 2024, reflecting the company's commitment to innovation and the development of its Digital Brain platform. A key advancement was the incorporation of generative AI-powered Large Language Model (LLM) composite agents.
Additionally, O9 actively participated in and hosted several industry events worldwide, where clients showcased the value of O9’s platform. Chakri Gottemukkala, Co-Founder and CEO of O9, stated, “Our remarkable growth, despite macroeconomic challenges, reflects the trust our clients place in our innovative solutions and our ability to execute. It also validates our vision and mission to be the MVP of the Enterprise as clients derive significant value by transforming their planning and operations using O9’s AI-enabled platform. We are also excited by the potential of our GenAI innovations to significantly accelerate our clients’ value creation journey with O9."
