hSenidBiz achieves profitability milestone
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Dinesh Saparamadu and Sampath Jayasundara
hSenid Business Solutions PLC (hSenidBiz) has announced its financial results for the third quarter of FY2026, marking a transformative period as the company achieved profitability and surpassed the US$ 5 million exit Annualized Recurring Revenue (ARR) milestone. Total revenue for the quarter reached Rs 547.6 million, reflecting year-over-year growth of 27 per cent in LKR terms and 23 per cent in USD constant currency terms, the company said in a media release.
The PeoplesHR Cloud segment continued to drive robust performance, recording a strong 48 per cent year-over-year increase in LKR terms and 42 per cent in USD constant currency. Subscription revenues comprised 86 per cent of the segment, reflecting the strength of the company’s recurring revenue model. Recurring revenues contributed 73 per cent of total revenue, reinforcing the quality and sustainability of the company’s revenue base.
The company achieved an ARR of $ 5.2 million, marking a significant milestone in the company’s journey as a leading HR technology provider in emerging markets. New deal closures for the quarter amounted to $ 330,046, a 29 per cent increase compared to the same period last year, with 97 per cent of deals attributed to the PeoplesHR Cloud business.
Commenting on the quarter’s performance, Founder and Chairman Dinesh Saparamadu stated, “Achieving the $ 5 million ARR milestone validates the progress we have made in building a sustainable, recurring revenue-led business. This represents a defining moment in our journey, and we remain focused on expanding our presence across key markets while continuing to deliver innovative solutions that drive value for our customers.”
CEO Sampath Jayasundara noted, “Achieving profitability is a testament to the discipline and focus our team has maintained throughout this transformation. The combination of strong revenue growth and operational efficiency positions us well to drive sustained value creation.”
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