2021 — what an Epic year! And not just because Epic Games was one of our first new subscribers in 2021! But also because 2021 brought LeaseCalcs an amazing cadre of new clients like Anaplan, PepsiCo, Cengage and E&J Gallo, to name just a few. This past year proved, yet again, that world class companies choose LeaseCalcs when they want world class lease accounting, lease administration, financial analysis and transaction management software. A few key metrics for 2021: 100% of our Corporate clients renewed their subscriptions. Again!! 29% year over year revenue growth, driving tremendous profitability — and incredible bonuses
Closing the book on 2020 and looking back, I have so much gratitude for our resilient team and incredible clients. Through the midst of a pandemic, LeaseCalcs had another year of stellar growth – in revenue, total clients, profitability and headcount. While our world class SaaS application deserves some credit, the world class clients that continue to pick LeaseCalcs as their lease accounting, administration and analysis solution deserve all our thanks. This is especially true of the new clients – like the few examples below, among many others – we were honored to partner with in 2020. As great as
COVID-19: A Tale of Two Rent Concessions In the words of Charles Dickens, “It was the best of times, it was the worst of times.” Two tenants each received a $150,000 rent concession from their landlord. One tenant saw an immediate $150,000 improvement in net income, the other only $16,666. As a broker helping tenants make important decisions about their business, you must understand why this happened before you finalize another rent concession / lease restructure. COVID-19 related rent concessions – rent deferrals or abatements – take many forms. Often, they are combined with a lease extension, or even a