Canonical Saw ~$119M Revenue In 2019 But Still Operating At A Loss
A few weeks back Canonical Group Limited submitted their FY2019 documents with the UK Companies House. They show their 2019 revenue at $119 million USD, up from $97 million the prior year. Their operating loss came in at just $2M, better than the $11M operating loss in 2018 and the losses they have been operating at some years.
Canonical's average headcount for 2019 was 473, up from 437 the prior year. While they added close to forty more employees, it's still down from their 500+ headcount prior to their restructuring when they abandoned their smartphone ambitions and more. This older article offers a look at the Canonical headcount and financial performance for the past number of years.
The report does note concern over the COVID-19 pandemic. While Canonical has a global, distributed workforce that is largely work-from-home and thus less of an impact from any lock-downs, their operations aren't impacted too much. But COVID-19 disruptions faced by their customers could lead to lower sales or lower levels of contract renewals. The Canonical directors are preparing for scenarios as much as a 30% reduction in sales that can be "comfortably sustained" before enacting any cost-cutting measures. Long story short, they anticipate weathering the current COVID-19 climate fine.
Those interested can see the FY2019 report in full here.