RunSignup Reports Strong Q2 2023 Business Growth and Positive Market Trends
July 11, 2023
Moorestown, NJ – July 11, 2023/ENDURANCE SPORTSWIRE/ – RunSignup, the leading provider of race registration and technology solutions for endurance events in the U.S., announces its Q2 2023 business update, highlighting significant growth and positive trends in the company’s performance. RunSignup’s Q2 results demonstrate a strong recovery from the pandemic and continued growth with the number of races on its platform, participant registrations, and donations during the first half of 2023. Its new TicketSignup product offering experienced an exceptional growth rate of 3.4 times compared to Q2 2022. RunSignup’s technology focused approach resulted in an impressive amount of advancements in its comprehensive product offerings continuing to propel its leadership position in the industry.
Bob Bickel, CEO and founder of RunSignup, expressed optimism about the future, stating, “We see continued growth and market share expansion as our competitive advantages in technology, pricing stability, and customer-centric focus set us apart. Our strong financial position, coupled with our ongoing commitment to delivering innovative solutions, positions us well for the long term.”
Financial highlights of RunSignup’s Q2 2023 update include:
- Endurance Market Growth:
- Total races on the RunSignup platform increased by 11% compared to 2022 and 40% compared to 2019.
- Registrations grew by 14% compared to 2022 and 28% compared to 2019.
- RunSignup maintained its market share growth in the endurance market, surpassing competitors.
- TicketSignup Growth:
- TicketSignup experienced exceptional growth, expanding by 3.4 times compared to 2022.
- Donation Increase:
- Donations received through RunSignup’s GiveSignup platform rose by 14% compared to 2022 and an impressive 115% compared to 2019.
- Transaction Volume Growth:
- Total transaction volume of RunSignup’s customers increased by 24% compared to 2022 and 70% compared to 2019.
- Profitability and Cash Flow:
- Despite the heavy negative cash flow resulting from the R&D capitalization tax change implemented in 2022, RunSignup has returned to being solidly profitable and is cash flow positive.
RunSignup remains committed to its core strategy of continuously improving its software to address customer needs. The company delivered more than 500 new releases across its products during Q2 and plans to launch several major releases in the second half of the year. The following product advancements were made during Q2:
- New Questions Interface for RunSignup
- RaceDay CheckIn App with New Kiosk Mode
- Race Renewals Improvements
- Several Email V2 Updates
- Easy Race Recommended Settings
- RaceJoy Native Maps
- YOY Dashboard Comparison Charts
- Apple Wallet for TicketSignup
- Waivers and Refund Information for TicketSignup
Looking ahead, RunSignup has several exciting projects in the pipeline, including RaceDay Scoring V4, the introduction of Next Gen Website capability for RunSignup Races, the integration of Apple Pay and Apple Wallet, and the development of a Next Gen TicketSignup Recurring Multi-day Event Option and Next Gen Memberships.
The Q2 2023 business update demonstrates RunSignup’s strong performance and ongoing commitment to customer satisfaction. With continued growth and a focus on technology, the company remains poised for long-term success.
RunSignup is the leading event solution delivering the art of technology to endurance events and nonprofits. More than 28,000 events use our free and open platform to register 8 million annual participants, raise more than $2 Billion and grow their events. Our expertly crafted, open and all-in-one solution powers event revenue generation and supporter engagement through flexible registration, free event websites, free email marketing, integrated fundraising, and a suite of RaceDay tools. No subscriptions, no plans, no monthly fees.
To find out why customers like the Richmond Marathon, American Cancer Society, Vacation Races, and RaceDay Events use RunSignup, visit www.runsignup.com.