PRINCETON, N.J., March 2, 2021 /PRNewswire/ -- Quartesian, a multinational Clinical Research Organization (CRO) serving the biopharmaceutical and medical device industries, today announced increased contracts and record revenue for 2020, and its 18th consecutive year of profitability.
"Despite the challenges of 2020's clinical trial environment, our performance in 2020 met the clinical, performance and financial goals we set for ourselves a year ago. In addition to growing our core data management offerings, we made significant progress advancing the Medical Writing and Pharmacovigilance services launched in 2019", said Benjamin Jackson co-founder and CEO of Quartesian. "We are pleased with the solid performance our teams delivered in 2020."
Financial highlights of Quartesian's positive 2020 include:
Pipeline growth of 32% year over year
Bookings expanded by 28% over 2019
Annual revenue grew 27% year over year
Added 45 new clients in 2020 directly and through CRO partners
18 consecutive years of revenue growth and positive cash flow with zero debt
Soumitra Chowdhury, COO, Quartesian said, "Having achieved all of our key services and financial goals in 2020, we anticipate that 2021 will be one of Quartesian's most significant value-creating years to date. Our revenue growth and improved profitability increased our operating cash flows even as we invested in certifications and infrastructure."
Key Business Highlights
The workforce size surpassed 525 employees
Expansion of Confero Data Visualization and Analytics to support centralized monitoring and insights for virtual teams
Earned ISO 9001:2015 certification for our quality management system
Earned ISO/IEC 27001:2013 certification for the systems and processes for managing sensitive company information
Sponsors and CROs alike value Quartesian solutions to help them Take Back Control of their data and their clinical trials. We leverage industry-leading technologies paired with deep clinical trial expertise to help clients bring their treatments to market faster and more efficiently.
Quartesian is the "Clinical Data Company", providing insightful data to organizations performing clinical studies. Deep technical expertise pairs with industry experience to deliver clinical data services — quickly, efficiently, and at a competitive cost — no matter the size of your business or the phase of your study. At Quartesian, our specialized services teams deliver quality, innovation, and efficiency for over 250 customers across the world with consistent excellence. Learn more at www.quartesian.com.
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