Lease accounting software provider LeaseQuery experienced record growth in 2018, with a 708% year-over-year revenue growth. The expansion was propelled by LeaseQuery’s solution supporting the new FASB lease accounting standards.

The new standards, released by the Financial Accounting Standard Board and International Accounting Standards Board (IASB), require companies to put nearly all leases on their balance sheets, which significantly shifts the way companies prepare financial statements.

By providing a reliable solution to more than 500 companies for this critical challenge, LeaseQuery has seen its revenue, employee base and brand recognition grow greatly.

“2018 was another year of remarkable growth for LeaseQuery. With the deadline for public companies to adhere to the new lease accounting standards fast approaching, our solution is a critical component of helping them comply,” said George Azih, LeaseQuery founder and CEO. “We grew our employee base phenomenally this year, and every employee has been key tobuilding a best-in-class solution to a serious challenge.”

Additional 2018 milestones included:

• LeaseQuery was issued an unqualified SOC report by EY. The report enables LeaseQuery’s customers to have confidence in the software’s controls and calculations.
• LeaseQuery added 94 employees to meet the burgeoning demands of the market
• The addition of 109,549 new lease subscriptions, with customers ranging from small businesses to large, global corporations, on a program that can handle between 10 to more than 1,000 leases

The Atlanta Business Chronicle recognized LeaseQuery as Atlanta’s fastest growing technology company. Additionally, LeaseQuery was voted as one of Atlanta’s best places to work in the medium-sized business category.