Digital development partner, xDesign, has today reported record revenue of £14.5 million for 2022. This will be the fourth consecutive year of substantial growth for the company and is up from £3.8 million on its 2021 reporting.
As part of its revenue announcement, the owner-operated company also reported that it is on track to expand its Edinburgh-based workforce to 550 people in the next year, while looking to grow its revenue to £40 million in the same period. Currently, it has over £26 million of revenue booked in for this financial year already.
xDesign’s current momentum is bucking industry trends despite a backdrop of geopolitical tensions, economic uncertainty, and an ever-increasing digital skills gap which Tech Nation last week predicted could ‘stifle growth’ for the UK digital sector.
Commenting on xDesign’s latest growth figures, Euan Andrews, founder and CEO of the company, said:
“Our latest financial results are testament to the hard work and dedication of our people. At a time of great uncertainty – one that’s seen many UK companies look for answers to their talent demands – we’ve been able to satisfy a growing need in the market by providing high-quality, highly-motivated, and locally-based technologists.
“We’re not a company that simply wants to put ‘bums on seats’. We’re one that looks to enter into a two-way partnership with clients, to add real tangible value to their company whilst setting them up for success in the long term – particularly when it comes to digital skills and capability. Our recent partnership with FanDuel is a great example of this approach in action.”
In May 2022, xDesign signed a milestone multi-year partnership with FanDuel, North America’s market-leading sports gaming platform, to jointly fund the creation of hundreds of new high-value tech jobs in the UK needed to build on an already successful commercial relationship between the two businesses. Its other clients include high-profile brands such as MoneySuperMarket Group, Tesco Bank, Yorkshire Building Society and Zonal.
Andrews continues: “Investing heavily in our people has paid dividends at a time when many companies in a variety of sectors are losing the fight for digital talent. Our core philosophy is that increasing revenue should be a by-product of doing the right thing by your people and clients. Taking this approach has meant that we can not only offer the very best digital talent, but we have also been able to regularly attract fresh talent to scale with our growth ambitions too. We’re currently hiring around 30 new people every month, but also keeping attrition to under 4% compared to the tech sector average of 23%. As a result, we’re well on track to meet our target of employing 1,200 people by 2025.”
To serve an ever-expanding team, xDesign is set to launch new offices in Manchester and London in 2022 – these are in addition to its Edinburgh and Leeds offices.
For more information about xDesign and its open roles, visit: www.xdesign.com
