Success for Rubicon
In 2021, US-based Rubicon – a digital marketplace for waste and recycling, and provider of software-based solutions for businesses and governments worldwide – achieved a revenue of 583 million US-Dollar.
In April this year, Rubicon Technologies LLC published the financial and operational results for the fiscal year 2021: Full-year GAAP (generally accepted accounting principles) revenue in 2021 was 583 million US-Dollar, eight percent higher than 2020 revenue. As reported, year-on-year growth was supported by expansions within the company’s existing customer base and by new customer wins. The 2021 annualized recurring revenue (ARR) totaled 659 million US-Dollar as of December 31, 2021, and was 28 percent higher compared with the previous year. Annualized recurring net revenue totaled 58 million US-Dollar, an increase of 35 percent compared to 2020.
In December last year, Rubicon announced a business combination with founder SPAC, a publicly traded special purpose acquisition company. The combined company is expected to be listed on the New York Stock Exchange upon completion of the transaction, which – in April this year – was anticipated to occur in the second quarter of 2022 subject to approval by the founder’s shareholders and other customary closing conditions. The company will continue to be based in Kentucky.
Recent business highlights of Rubicon include: In April, the firm announced a two-year, nationwide extension agreement with home goods retailer, Tuesday Morning. The agreement will cover the company’s entire portfolio of nearly 500 locations in the United States as Rubicon seeks to continue to increase waste diversion from landfills, consolidate service, and provide enhanced account management across Tuesday Morning’s portfolio of stores.
In March, the Kentucky-based business entered into a three-year smart city contract with the City of Houston (Texas) to improve residential waste and recycling services for the city’s more than 2.3 million residents.
In February this year, Rubicon reported a multi-year agreement with SRS Distribution, Inc., one of the fastest-growing distributors of exterior building and outdoor living products in the United States, to provide scalable waste, recycling, and sustainability solutions in support of the company’s environmental and business goals.
Also in February, the provider of software-based solutions informed that its pilot program with Japanese conglomerate, Odakyu Electric Railway Co., has successfully transitioned into a long-term, nationwide technology licensing agreement focused on supporting the Japanese waste and recycling industry as it moves towards a more integrated circular economy.
At the beginning of this year, Rubicon completed the acquisition of CIVIX LLC, a routing software and solutions company based in Germany. The acquisition expands and enhances the routing capabilities of the company’s “RUBICONSmartCity” and “RUBICONPro” offerings, and helps drive its growth into additional international markets. As part of the acquisition, the President of CIVIX, Dr. Paul Patterson, and his team have joined the new owner.
(Published in GLOBAL RECYCLING Magazine 2/2022, Page 14, Photo: Andi Karg)
