Majesco is a global provider of core insurance software and consulting services for insurance business transformation. The Company's solutions include policy management, new business/underwriting, rating, billing, claims management, distribution management, BI/analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.

Employee Rating

3.1More
TypePublic
HQReading, GB
Founded1992
Size (employees)2,248 (est)+10%
Websitemajesco.com
Majesco was founded in 1992 and is headquartered in Reading, GB
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Majesco Office Locations

Majesco has offices in Reading, Mumbai, Morristown, West Yorkshire and in 8 other locations
Reading, (HQ)
8 Market Pl
Morristown, (HQ)
110c 412 Mt Kemble Ave
West Yorkshire,
36 Park Row
Toronto,
2500 1 Dundas St W
Atlanta,
145 400 Perimeter Center Terrace
Bridgewater,
685 Rte 202/206
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Majesco Financials and Metrics

Majesco Revenue

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Majesco's revenue was reported to be $122.99 m in FY, 2018
USD

Revenue (Q2, 2019)

34.0m

Gross profit (Q2, 2019)

17.1m

Gross profit margin (Q2, 2019), %

50.1%

Net income (Q2, 2019)

2.8m

Market capitalization (4-Dec-2018)

261.5m

Closing stock price (4-Dec-2018)

7.1

Cash (30-Sep-2018)

12.3m
Majesco's current market capitalization is $261.5 m.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

82.8m79.3m113.3m121.8m123.0m

Revenue growth, %

(4%)43%

Cost of goods sold

45.7m48.8m62.8m63.5m67.1m

Gross profit

37.1m30.5m50.5m58.3m55.9m
Quarterly
USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q2, 2019

Revenue

23.2m28.2m29.6m32.6m31.0m30.0m27.9m30.3m31.8m34.0m

Cost of goods sold

12.1m15.8m17.1m17.8m15.6m15.3m16.0m16.7m16.9m17.0m

Gross profit

11.1m12.4m12.6m14.8m15.5m14.7m11.9m13.6m14.9m17.1m

Gross profit Margin, %

48%44%42%45%50%49%43%45%47%50%
Annual
USDFY, 2015FY, 2016FY, 2017FY, 2018

Cash

5.5m5.5m9.2m

Accounts Receivable

7.8m22.5m19.1m

Current Assets

25.3m44.3m47.8m

PP&E

1.2m3.5m2.8m
Quarterly
USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q2, 2019

Cash

9.3m5.5m8.9m14.2m10.8m18.0m9.5m10.3m10.8m12.3m

Accounts Receivable

15.1m13.4m13.8m16.3m16.5m15.5m13.4m15.5m14.7m18.1m

Current Assets

35.4m32.0m35.3m46.9m46.6m50.1m41.6m44.3m44.4m53.3m

PP&E

1.8m2.1m2.2m3.8m3.9m4.0m3.4m3.1m2.9m2.3m
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

2.9m(651.0k)(3.6m)(922.0k)(5.0m)

Depreciation and Amortization

2.5m2.4m3.8m4.7m4.8m

Accounts Payable

(82.0k)(53.0k)2.1m(751.0k)(570.0k)

Cash From Operating Activities

3.1m3.7m(5.8m)
Quarterly
USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q2, 2019

Net Income

82.0k(976.0k)(1.1m)217.0k209.0k(1.6m)(2.4m)(5.4m)3.9m

Accounts Payable

825.0k

Cash From Operating Activities

(6.0m)(31.0k)

Purchases of PP&E

(199.0k)(669.0k)(934.0k)(797.0k)(1.3m)(2.0m)(313.0k)(597.0k)(909.0k)(482.0k)
USDY, 2018

Financial Leverage

2.1 x
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Majesco Operating Metrics

Majesco's Customers was reported to be 148 in FY, 2017.
FY, 2014FY, 2015FY, 2016FY, 2017

Customers

97 108 149 148
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Majesco Revenue Breakdown

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Majesco revenue breakdown by geographic segment: 7.9% from UK, 86.7% from USA and 5.4% from Other

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Majesco Online and Social Media Presence

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Majesco News and Updates

Majesco USA acquires Exaxe Holdings, Ireland

In consideration for purchase of the Securities, Majesco, USA paid the sellers Euro 6.39 Million. In addition, Majesco, USA agreed to make an additional payment to the sellers of Euro 0.72 Million for the remainder of the Securities on 01 August 2019.

Majesco standalone net profit declines 76.51% in the September 2018 quarter

Sales decline 11.31% to Rs 4.55 crore

Majesco consolidated net profit rises 147.52% in the September 2018 quarter

Sales rise 21.85% to Rs 242.52 crore

Majesco announces change in CEO

With effect from 01 October 2018

Majesco standalone net profit rises 217.12% in the June 2018 quarter

Sales rise 15.51% to Rs 5.14 crore
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Majesco Blogs

Billing is Riding a New Wave of Innovation, Part 2

Insurance billing sits at the corner of customer engagement and cashflow, so it can’t be ignored without negative results. If you read the latest insurance industry publications you won’t find many articles related to modernizing billing because many may have already done so  …   Read More  The post…

Billing is Riding a New Wave of Innovation, Part 1

Sometimes a moment has the power to reinvent a process. This happened to Jim McKelvey, an entrepreneur who happened to own a glass-blowing factory. McKelvey’s inability to take credit cards at his studio led to the creation of Square, now a $2.2 billion  …   Read More  The post Billing is Riding a N…

The Age of Digital Insurance Is Here, And It’s Decidedly More Human

What business are you in? I’ve spent most of my career in the IT industry, where responses to this question range from “the people business” to “the code-cutting business” and everything in between. In the insurance industry, the answers are more along the  …   Read More  The post The Age of Digital…

Digital Distribution Mastery, Part 2: Motivators, Keys and Benefits

In last week’s blog, we discussed some myths and misconceptions about insurance agencies and their willingness to be a part of Digital Insurance 2.0, with its customer-focused service and omni-channel engagement. I enlisted the help of Craig Welsh, from Westfield Insurance and Gregory  …   Read More…

Digital Distribution Mastery, Part 1: The Digital Agency

When insurance companies think about their agency partners and digital preparedness, misconceptions are rampant. Misconception: If we build out our direct channel, it will hurt our agencies. Truth: Distribution channels are not either/or. They are both/and. Omni-channel distribution provides custome…

Design Secrets of Platform-Based Architectures Part 2

The concept of “plug and play” has been discussed for quite some time, but the rise of “plug and play” in InsurTech is monumental because it is crossing boundaries and rapidly changing business models. Its meaning has widened over time because it is  …   Read More  The post Design Secrets of Platfor…
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Majesco Company Life and Culture

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Majesco Frequently Asked Questions

  • When was Majesco founded?

    Majesco was founded in 1992.

  • How many employees does Majesco have?

    Majesco has 2,248 employees.

  • What is Majesco revenue?

    Latest Majesco annual revenue is $123 m.

  • What is Majesco revenue per employee?

    Latest Majesco revenue per employee is $54.7 k.

  • Who are Majesco competitors?

    Competitors of Majesco include Cybercube, Duck Creek Technologies and Ohpen.

  • Where is Majesco headquarters?

    Majesco headquarters is located at 8 Market Pl, Reading.

  • Where are Majesco offices?

    Majesco has offices in Reading, Mumbai, Morristown, West Yorkshire and in 8 other locations.

  • How many offices does Majesco have?

    Majesco has 12 offices.