Dye & Durham, a leading provider of cloud-based legal practice management software, announced today that it has achieved a significant milestone by surpassing $100 million in annual recurring revenue (ARR).
The ARR milestone was reached this week, reflecting an impressive increase of $33 million since March. The growth can be attributed to high demand for Dye & Durham’s software products, new sales initiatives, and recent acquisitions in the legal practice management market.
Dye & Durham aims to drive ARR to over 50% of total revenue by the end of fiscal 2026 while maintaining annual adjusted EBITDA growth of 20-25%.
“Today is a major achievement for Dye & Durham and it’s especially impressive considering that our ARR stood at only $9 million in the first quarter of fiscal 2022,” said Dye & Durham CEO Matthew Proud.
“We are focused on shifting our customer relationships from a single product-driven solution approach to a holistically consultative approach, building deeper and lasting partnerships to help legal professionals achieve more growth with less effort. This is a clear testament to the hard work, passion and dedication of our team and I’m excited to see us build on this momentum.”
Dye & Durham provides practice management solutions empowering legal professionals every day, delivers vital data insights to support critical corporate transactions and enables the essential payments infrastructure trusted by government and financial institutions.
The company has operations in Canada, the United Kingdom, Ireland, Australia and South Africa.