Visual Lease Announces Strong Second Quarter Results

The only software provider recognized as a Leader by G2 in Lease Administration and Lease Accounting continues to achieve double-digit annual recurring revenue, customer and employee growth YoY

WOODBRIDGE, NJ / ACCESSWIRE / July 20, 2022 / Visual Lease, the #1 lease optimization software provider, today announced strong second quarter results, achieving nearly 30% growth in annual recurring revenue and 40% growth in customer count, year-over-year. Visual Lease is currently used by more than 1,000 organizations to achieve and sustain compliance with FASB, IFRS and GASB lease accounting standards, and simultaneously improve the financial, legal and operational performance of their leases.

"Now more than ever before, organizations of all industries must pay very close attention to their leases," said Visual Lease President, Robert Michlewicz. "If companies fail to gain control and visibility across their lease portfolios, they could lose significant time, money and credibility - a risk no business is willing to take in today's climate. The reason that Visual Lease continues to be the partner of choice for private and public companies, as well as government entities, is because our software and services are grounded in 25+ years of experience helping organizations manage, track and report on their leases. As we move into the second half of the year, we're continuing to make investments to serve our growing community of customers and team members."

In Q2 2022, Visual Lease:

Software & Services

• Recognized as the only software provider that is a Leader in both the Lease Accounting and Lease Administration categories by G2.
• Improved the performance of major Lease Accounting reports
• Named a winner of a Bronze Stevie® Award in the Customer Service Department of the Year category in The 20th Annual American Business Awards.

Talent

• Appointed fin-tech veteran, Robert Michlewicz, as President to oversee the company's Corporate Strategy, Product, Engineering, Marketing, Sales and Customer Service functions.
• Named a Best Place to Work in New Jersey by NJBIZ for the third consecutive year.
• Expanded its Customer Services, Product and Engineering teams in kind with its growing base of customers to ensure that the company continues to drive innovation and provide a customer experience second to none in the category.

Alliance Partners

• Expanded its Alliance Partner program by welcoming Blue Sky Capital Strategies, LLC, Embark With Us, Barre & Company LLC and Brady Ware & Company to its network.
• Announced Grant Thornton will co-present two upcoming ASC 842 Educational Webinar sessions alongside its own lease accounting experts on July 26th and August 24th.

To keep up with announcements from Visual Lease, visit the Visual Lease Newsroom.

About Visual Lease

Visual Lease is the #1 lease optimization software provider. We help organizations become compliant with FASB, IFRS and GASB lease accounting standards, while simultaneously improving the financial, legal and operational performance of their leases. Our easy-to-use SaaS platform is embedded with more than three decades of best practices from major corporations and leading industry professionals. Our award-winning solutions are used by 1,000+ organizations to manage 500,000+ real estate, equipment and other leased assets. Committed to ongoing innovation and unparalleled customer service, Visual Lease helps organizations transform their lease compliance requirements into financial opportunities. For more information, visit visuallease.com.

Media Contact

Erica Bonavitacola
Visual Lease
T+1 732 860 4838
ebonavitacola@visuallease.com

SOURCE: Visual Lease