Cvent Holding's Corporate Customers have recorded a rise in their cost of revenue by 24.2 % in the 1 quarter 2023 year on year, sequentially costs of revenue were trimmed by -40.8 %. During the corresponding time, Cvent Holding Corp recorded a revenue increase by 21 % year on year, sequentially revenue fell by -2.76 %. While revenue at the Cvent Holding Corp 's corporate clients recorded rose by 25.51 % year on year, sequentially revenue fell by -31.21 %.
Cvent Holding's Customers have recorded a rise in their cost of revenue by 24.2 % in the 1 quarter 2023 year on year, sequentially costs of revenue were trimmed by -40.8 %, for the same period Cvent Holding Corp recorded revenue increase by 21 % year on year, sequentially revenue fell by -2.76 %.
Cvent Holding's Comment on Sales, Marketing and Customers
We operate in an intensely competitive market that is characterized by constant change and innovation. Our biggest competitor is existing manual, paper and spreadsheet-based systems or point solutions for just a specific part of the event management and marketing process that organizations utilize by themselves in a fragmented manner. We believe the digitization of the industry and the need for driving and capturing engagement to understand attendee interests provides the greatest opportunity to grow our business.
In addition to the paid relationships with hotels, venues and destinations, we have direct integrations with the back-end sales and catering and IT systems of over 40,000 individual hotel properties, including many major hotel chains and brands.
Cvent Holding’s Comment on Sales, Marketing and Customers
We operate in an intensely competitive market that is characterized by constant change and innovation. Our biggest competitor is existing manual, paper and spreadsheet-based systems or point solutions for just a specific part of the event management and marketing process that organizations utilize by themselves in a fragmented manner. We believe the digitization of the industry and the need for driving and capturing engagement to understand attendee interests provides the greatest opportunity to grow our business.
In addition to the paid relationships with hotels, venues and destinations, we have direct integrations with the back-end sales and catering and IT systems of over 40,000 individual hotel properties, including many major hotel chains and brands.
Sources:
Cvent Holding Corp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Cvent Holding Corp’s corporate clients.
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