O9 Reports 37% Growth In Annual Recurring Revenue for Q2 2024

O9, a leading enterprise AI software platform provider known for transforming planning and decision-making processes, has announced a significant 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 successfully 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."

Other notable Q2 2024 highlights for O9 include the completion of a six-month deployment of its AI-powered Demand Forecasting and Operations Planning solutions at TBInternational, the digital transformation of Iveco Group’s integrated business planning processes and enhancements to the Digital Brain platform with GenAI-powered Composite Agents. Additionally, O9 expanded its collaboration with Microsoft, integrating Microsoft Azure OpenAI Service applications to boost AI-powered planning capabilities and won the 2024 Google Cloud Partner of the Year Award for Technology: Supply Chain and Logistics. The company was also included in the 12th-annual Citizens JMP’s Hot 100 List, while its CFO Anand Govind won the D CEO 2024 Financial Executive Awards in the Large Company category. Furthermore, O9 successfully organised O9 Walks 2024, which saw 3,900 participants amass 605 million steps, leading to the planting of 12,435 trees in Brazil and hosted aim10x On Tour events with nearly 500 attendees in Hong Kong, Bangkok, Munich and Chicago.