Why have the NOT indicators fallen?

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become unprofitable. The company attributes this to a slowdown in import substitution, while experts attribute it to the availability of foreign solutions.

According to the results china whatsapp resource of 2023, the revenue of New Cloud Technologies (NOT; developer of the MyOffice software) decreased by 43.8% compared to 2022 and amounted to about 1.9 billion rubles, according to the company's financial statements. It received a net loss of 5.2 billion rubles instead of a profit of 386.5 million rubles a year earlier. Before that, the company had been unprofitable for several years, but in 2022 it managed to make a net profit. In the same year, revenue increased by 295%, to 3.3 billion rubles.


The company was founded in 2013 and specializes in developing office solutions. In 2019, Kaspersky Lab became one of its shareholders, initially owning 29.5%, a year later increasing its stake to 47%, and at the beginning of 2022 — to 61.05%. The company's products include the Documents, Text, Table, Presentation, Mail, Calendar, Contacts platforms, Mailion corporate mail, and Squadus digital workspace. As of March 2024, 11.1 thousand organizations used NOT products, including Rosatom, VTB, the Russian National Guard, Russian Post, Aeroflot, Russian Railways, the Presidential Property Management Department, the Federal State Budgetary Institution Information and Analytical Center of the Judicial Department, the Ministry of Digital Development, etc.


A NOT representative named several factors explaining the negative dynamics of financial indicators last year. According to him, a role was played by the general decline in the rate of import substitution of office software. If in 2022 there was significant growth, then in 2023 purchases were below the forecast values ​​​​(minus 18.1% year on year). The lack of funding for the purchase of software from many state and quasi-state organizations also had an impact - as a result, in 2023, they only carried out pilot projects to implement NOT software. At the same time, the company expects that in 2024, budgets for import substitution of Russian office software will be allocated. A NOT representative noted that the company is observing "positive sales dynamics in the first quarter of 2024 - compared to the first quarter of 2023, the volume of sales of MyOffice licenses increased by 126%, there was a double-digit growth in the number of small and medium-sized transactions, as well as an increase in the average check in transactions."

Among other reasons for the drop in 2023, he mentioned that many foreign manufacturers, in particular Microsoft, left the opportunity for customers to continue using and purchasing licenses. "As a result, many took advantage of this loophole and adopted a wait-and-see attitude. We hope that Microsoft's recent notification about the termination of cloud services will be a good reminder of the need for rapid import substitution," the NOT representative noted. Another factor is the effect of large contracts - the largest Russian organizations prefer to purchase three-year licenses, which do not need to be purchased annually.