SUNNYVALE, Calif., Feb. 20, 2018 (GLOBE NEWSWIRE) -- Real-Time Innovations (RTI), the Industrial Internet of Things (IIoT) connectivity company, today announced another year of consistent growth by logging a 23% increase in recurring bookings. RTI has now accumulated 27% CAGR sales growth over the last three years. Perhaps most impressively, RTI’s recurring revenues now account for more than 70% of revenues with a dollar-value retention of 116% (-16% churn). Negative churn indicates that RTI’s customers are loyal and growing.
2017 brought a record number of new customer engagements, with 173% growth in net new customers over RTI’s strong 2016. To support the growth, RTI increased its employee headcount by 32%. Europe had particularly strong growth, with rapid expansion of its Spain Development Center (SDC) and 30% growth in the territory. RTI’s performance sets the stage for continued momentum in 2018; the company expects to expand field sales and business development this year.
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