IFS cloud revenue surges 37% amid €15bn industrial AI push
The company stated that its cloud revenue rose by 37% compared to the prior year, while overall recurring revenue increased by 24%. Recurring revenue now constitutes 82% of IFS's total revenue.
IFS, which was recently valued at €15 billion, highlighted its acquisition of TheLoops and the launch of its Nexus Black platform as significant developments in its progress within the industrial artificial intelligence (AI) sector. The company indicated that these moves have helped to position it with a portfolio of industrial AI technologies tailored for operational and mission-critical environments.
Customer momentum
According to the company, 130 new industrial brands selected IFS in the first half of the year, including firms such as Arcelor Mittal, Callaway, Collins Aerospace, Hitachi Energy, Japan Airlines, and TotalEnergies. Average deal size from new customers also increased significantly in the period, IFS stated.
IFS's performance is linked to robust demand for industrial AI applications and ongoing execution of its financial model, according to its leadership team. "Our phenomenal growth proves customers are done with AI theory. They want AI that solves real problems, at scale, and are placing their trust in IFS to lead them through the Industrial AI revolution," said Mark Moffat, CEO of IFS. "The connection between our performance and AI innovation is unmistakable. As demand intensifies, IFS stands apart, thanks to our domain depth, contextual intelligence, and unwavering focus on industry."
Matthias Heiden, Chief Financial Officer of IFS, also commented on the results and approach underpinning the company's financial outcomes. "Our fiscal performance reflects the fast-growth, differentiated Industrial AI leader that IFS has become, with a disciplined financial model rooted in recurring revenue, resilient operations, and scale-ready agility. These same principles are built into our solutions to empower our customers to drive long-term value. With this strong foundation, we're not just growing, we're redefining what's possible for industrial enterprises."
AI capabilities and acquisitions
IFS stated that the acquisition of TheLoops marks the introduction of an agentic AI workforce targeted at complex industries, while its Nexus Black initiative acts as an accelerator for developing and delivering tailored AI solutions at scale. The business also launched IFS Cloud 25R1, which brings over 200 AI-driven capabilities to customers.
Further, the company said that continued demand for its AI-powered solutions acquired in previous transactions - including Copperleaf, Poka, Ultimo, P2, and EmpowerMX - remains strong and has contributed significantly to its growth in the first half of 2025.
Market standing
IFS highlighted a €15 billion valuation, supported by the rising demand in the industrial AI sector. The company also reported several recognitions, including being named Customers' Choice in the 2025 Gartner Peer Insights Voice of the Customer for Enterprise Asset Management (EAM) and ranking number one for EAM for the fourth consecutive year in Gartner's Market Share: Enterprise Software, Worldwide, 2024 report.
Additionally, IFS was recognised as a Leader in two IDC MarketScape 2024–2025 vendor assessments and has been appointed as an advisor to the UK Parliamentary Group on AI.
Partner ecosystem and industry position
IFS attributed some of its scaling and growth in deal sizes to its global network of strategic partners. The company suggested its ecosystem has played a central role in supporting its capacity to deliver to customers across diverse industrial sectors.
The company's results and leadership commentary indicate a continuing emphasis on industrial AI, the transition to cloud-based deliveries, and maintaining a high proportion of recurring revenues as it pursues further growth.
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