Compugen registers strong growth as it reflects on FY2021 successes

Compugen has wrapped up a successful 2021 financial year with the announcement of key performance milestones. The Canadian IT firm recorded revenue of just under $660 million. Fiscal highlights include record sales for Software and for the first time, in excess of $50 million in annualized Managed Services revenue and a Total Services revenue of $110 million, making Services the company’s highest growth category. Throughout 2021, the company shipped a total of more than 340,000 end-user devices, reflecting the rising demand for individual productivity across many sectors, with education continuing to be a major growth area.

Coming out of the pandemic, organizations are realizing the essential nature of IT investments, where Compugen sees substantial growth opportunities. In preparation for this, Compugen recently created two new roles - the office of the Chief Operating Officer and Chief Sales and Marketing Officer.

Leading the new COO role is Jeremy Erlick, who brings over 20 years of experience in sales. He will bring a new perspective in this role supporting the sales and services organization, looking from a customer lens working backwards across operations and support to standardize, simplify and automate Compugen’s processes.

Assuming the new CSMO role is Terry Mirza, who is poised to create a unified National Sales and Marketing Organization focused on a customer segmentation model. Terry previously led the company’s Western Canada business and is also president of Compugen’s US operations. These two tenured executives will lead the growth strategy focused on expanding and deepening Compugen-branded services that help organizations realize new possibilities.

Together with industry-leading vendor partners, Compugen has set out to create compelling offers that provide distinct value, helping customers overcome their challenges through expert IT design and execution. With a national support footprint and a wide breadth of capabilities, the company can meet the increasing technology needs of a broad set of organizations.

“The IT market is looking up based on the data points that we have seen, with several intelligence firms predicting promising developments throughout 2025 that we plan to take full advantage of. Slated to exceed $135 billion in three years, Canada’s IT growth areas such as cloud and security are already some of the focal points for Compugen, so we are well poised to further expand our market share in these sectors,” explained CSMO Terry Mirza.

"Our two platforms Modern Workspace and Hybrid IT supported by an integrated security layer encompass the foundational solutions that customers require to operate a modern business.

“For us, technology is a path to business outcomes rather than an outright equipment purchase, and this framework has allowed us to demonstrate Compugen’s indispensable value to customers,” he added.

“The past year was yet another learning opportunity for Compugen in deepening our understanding of our client base and the wider IT market. Not everyone came out the other end with as much success as we did, and thus this makes our 2021 milestones that much more significant. Our recent performance puts us in a great position to better serve our current customers and win new ones. We have exerted great effort this year to not only elevate our services and increase the value we provide, but also make Compugen exceedingly more attractive to the best talent available. I am excited to anticipate what 2022 has in store for us. We have demonstrated the adaptability and resiliency that customers can count on,” Harry Zarek, President and CEO, concluded.