Newgen Software Tech (Newgen) reported revenue of INR 2,517mn, up 33.9% YoY (ISEC: 21.8%) in Q1FY24. Strong revenue growth in a seasonally weak quarter was driven by high growth in license revenue (up 184.6% YoY) and annuity revenue (up 26.3% YoY). Growth was strong across all markets - India grew 24.5% YoY, EMEA grew 38.4% YoY, APAC grew 45.7% YoY and US grew 35.8% YoY.