Deloitte
Deloitte Touche Tohmatsu Limited (DTTL), commonly known as Deloitte, is a multinational professional services network of independent member firms originating from Britain and headquartered in London.[1][2] Founded in 1845 by accountant William Welch Deloitte in London, the organization has evolved into a global entity providing audit and assurance, consulting, tax, financial advisory, risk advisory, and legal services to clients ranging from large corporations to governments.[3][4] Deloitte serves nearly 90% of the Fortune Global 500 companies and operates in over 150 countries with more than 470,000 employees.[5] For fiscal year 2025, ending May 31, the network reported aggregate revenues of US$70.5 billion, a 4.8% increase in local currency terms from the prior year, positioning it as the largest among the Big Four accounting firms by revenue.[6][7] While renowned for its scale and influence in professional services, Deloitte has faced notable controversies, including audit failures, involvement in tax avoidance schemes, and recent errors in AI-assisted government reports that prompted refunds and scrutiny over service quality and ethical standards.[8][9]History
Founding and Early Development
Deloitte was founded on April 23, 1845, when William Welch Deloitte, a British accountant born in February 1818, opened his office in London amid England's industrialization.[10][11] The firm initially operated as a small accountancy practice, emphasizing auditing and financial investigation in an era of rapid railway expansion and economic upheaval.[3] In 1849, Deloitte was appointed as the first independent auditor to a public company, the Great Western Railway, whose stock values were faltering; this role helped restore investor confidence in management practices.[11] By 1856, at age 38, he investigated one of the largest financial crises of the 19th century involving the Great Northern Railway, demonstrating expertise in bankruptcy probes and railway accounting.[11] These engagements expanded the firm's reputation, attracting clients from railways, docks, and banks, and influenced the Railway Companies Act of 1867, which standardized accounting forms for the sector.[11] Deloitte's innovations in independent auditing laid foundational principles for modern accountancy, prioritizing transparency and verification during speculative booms and busts.[11] Upon his retirement in 1897, the firm had grown to employ 70 staff and established itself as a leading London practice.[11]Expansion Through Mergers and Global Growth
Deloitte's early international presence developed through affiliations with local practices, but mergers provided the scale for true global expansion. In 1972, Deloitte merged with the U.S.-based Haskins & Sells, founded in 1896, to form Deloitte Haskins & Sells; this combined Deloitte's British heritage with Haskins' established American operations, creating a more unified international accounting network that spanned multiple continents.[12][13] The 1989 merger of Deloitte Haskins & Sells with Touche Ross—itself formed from earlier U.S. consolidations like the 1947 integration of George Bailey's firm into Touche Niven—established Deloitte & Touche as a dominant player, with initial combined revenues of about $5 billion and a client roster including major corporations such as General Motors. This transaction merged Touche Ross's strong domestic U.S. footprint and audit expertise with Deloitte's broader international affiliations, enabling coordinated global service delivery and positioning the firm among the top professional services providers.[12][13] To formalize its worldwide structure, the firm adopted the Deloitte Touche Tohmatsu name in 1993, incorporating Japan's Tohmatsu & Co. (a key affiliate since the 1989 merger) and establishing Deloitte Touche Tohmatsu Limited (DTTL) as the UK-incorporated coordinating body for a network of independent member firms; this enhanced Asian market penetration while maintaining legal separation to manage liability risks inherent in the profession.[12][13] Further mergers and acquisitions in the 1990s accelerated diversification and reach, exemplified by the 1996 acquisition of PHH Fantus, which added specialized real estate consulting capabilities and supported expansion into relocation services for multinational clients. By 1998, these efforts had grown the network to 82,000 employees across 132 countries, with global revenues of $9 billion—more than double the 1989 post-merger figure—reflecting how mergers integrated local expertise into a cohesive global platform amid rising demand for cross-border advisory.[13]Post-2000 Transformations and Recent Milestones
In the early 2000s, Deloitte underwent significant restructuring amid the accounting scandals exemplified by Enron, which led to the dissolution of Arthur Andersen; Deloitte absorbed Andersen's UK practice in 2002, bolstering its audit and tax capabilities in that market.[14] This period also saw initial forays into digital services, with the 2000 acquisition of Eclipse, a firm specializing in internet design, to enhance consulting offerings in web technologies.[13] By 2003, after abandoning plans to divest its management consulting arm, Deloitte executed a comprehensive rebranding to a unified global identity featuring the "Green Dot" logo, aiming to integrate audit, consulting, and advisory services under a single cohesive brand rather than fragmenting them.[14][15] The 2010s marked a pivot toward high-growth areas like strategy and technology consulting, exemplified by the 2013 acquisition of Monitor Group, a prominent strategy firm, which expanded Deloitte's capabilities in corporate strategy and economic advisory.[16] This era saw accelerated investments in digital transformation, with numerous acquisitions of specialized firms in areas such as IT automation (e.g., Innowake in 2017), cloud consulting (e.g., Strut Digital in 2017), and innovation advisory (e.g., Market Gravity in 2017), reflecting a strategic shift from traditional audit dominance to diversified revenue streams driven by technology and risk services.[17] Revenue grew substantially, doubling from approximately $32.5 billion around 2013 to $65 billion by fiscal year 2023, fueled by consulting and managed services that outpaced audit growth amid regulatory pressures on the latter.[18] Recent milestones include continued acquisition activity to address emerging risks, such as the 2022 purchases of Reformis for investment management technology and Makros for cybersecurity expertise in Latin America, enhancing Deloitte's financial services and security offerings.[19][20] In fiscal year 2025 (ending May 31, 2025), Deloitte reported global revenue of $70.5 billion, a 4.8% increase in local currency terms, with its workforce exceeding 470,000 employees; this marked the firm's first breach of the $70 billion threshold, driven primarily by Americas and Asia-Pacific growth in strategy, risk, and AI-integrated services, including a $3 billion investment in autonomous AI "co-workers" to automate routine tasks.[6][21] These developments underscore Deloitte's adaptation to technological disruption and geopolitical uncertainties, prioritizing scalable digital capabilities over legacy audit volumes.Governance and Organizational Structure
Network of Member Firms
Deloitte operates as a decentralized network of legally independent member firms affiliated with Deloitte Touche Tohmatsu Limited (DTTL), a private company limited by guarantee incorporated in England and Wales in 1988.[22] DTTL, often referred to as Deloitte Global, serves as the coordinating body that promotes consistent professional standards, facilitates global knowledge sharing, and oversees brand usage across the network, but it does not directly provide client services or generate revenue from them.[2] This structure enables member firms to leverage collective resources while maintaining separation to mitigate cross-jurisdictional liability risks, a model adopted by other major professional services networks to comply with varying national regulations on partnerships and audits.[22] Member firms are typically organized on a country-specific or regional basis, with each functioning as a distinct legal entity under local laws, customs, and professional requirements; for instance, they may be structured as partnerships, limited liability companies, or corporations depending on the jurisdiction.[22] There are approximately 150 such member firms worldwide, spanning over 700 offices in more than 150 countries and territories, allowing tailored service delivery while accessing shared methodologies, tools, and expertise developed centrally.[2] These firms cannot bind DTTL or one another contractually, ensuring that liabilities, such as those from audit failures or advisory disputes, remain confined to the responsible entity rather than propagating across the network.[22] Governance within the network emphasizes independence alongside coordination: DTTL's board, comprising representatives from select member firms, enforces membership criteria, including adherence to ethical codes and quality controls aligned with international standards like those from the International Federation of Accountants.[2] Member firms invest in DTTL through equity-like contributions and participate in global initiatives, such as research and technology platforms, but retain autonomy in client engagements, pricing, and operations.[22] This setup has enabled Deloitte's expansion without centralized ownership, though it has drawn scrutiny in regulatory contexts for potential conflicts in cross-border audits, prompting enhanced transparency disclosures in financial statements.[2]Leadership and Internal Operations
Deloitte's global leadership is headed by Chief Executive Officer Joseph B. Ucuzoglu, who assumed the role on June 1, 2023, succeeding Punit Renjen and overseeing the network's strategic direction across more than 150 countries.[23] [24] The Deloitte Global Executive Committee, comprising 21 senior executives from the global entity and select member firms, supports the CEO in setting policy, resource allocation, and performance standards for the affiliated practices.[25] This committee operates within Deloitte Touche Tohmatsu Limited (DTTL), a UK private company limited by guarantee that coordinates the independent member firms without direct ownership or control over their operations.[22] Internally, Deloitte maintains a partnership-driven model where promotion to partner status—requiring extensive billable hours and client revenue generation—creates incentives for high utilization rates among staff, often exceeding 60-70% annually in core services like audit and consulting.[26] Member firms implement centralized tools for performance management, including automation of over 600 internal processes via robotic process automation, yielding more than 4 million labor hours saved since implementation.[27] However, employee surveys indicate persistent challenges, with one-third of workers reporting discomfort in taking full vacation entitlements due to workload pressures, and burnout affecting up to 67% occasionally or frequently per internal and third-party data.[28] [29] Operational practices emphasize agility and technology integration, such as real-time analytics for workload balancing and AI-driven efficiency tools, but these have drawn scrutiny in cases of oversight failures.[30] In 2025, Deloitte Australia faced controversy over an AI-generated welfare penalty evaluation report containing factual errors, leading to a government refund and highlighting risks in rushed deployment without rigorous human validation.[31] [32] Earlier incidents include internal misuse of confidential government data in 2022-2023, prompting Senate inquiries, and 2024 PCAOB sanctions fining Deloitte Indonesia and Philippines $2 million total for inspection exam irregularities, including a barred leader.[33] [34] These events underscore tensions between growth targets—evident in the firm's 460,000+ workforce and $67 billion revenue—and quality controls, with anonymous employee feedback citing a "pyramid scheme-like" structure that prioritizes partner incentives over staff retention.[23] Despite this, aggregate satisfaction metrics hover at 3.8 out of 5, with 76% recommending the firm, though critiques persist on work-life integration.[35]Services and Capabilities
Audit and Assurance
Deloitte's Audit and Assurance practice encompasses external financial statement audits, internal control assessments, IT and data analytics audits, and specialized assurance services addressing complex accounting, regulatory compliance, and sustainability reporting. These services leverage technology such as AI-driven analytics and automated processes to evaluate financial reporting in evolving ecosystems, including ESG disclosures and transaction events. The practice serves diverse sectors, including financial services (banking, insurance, investment management), consumer industries, life sciences, health care, and private companies, with tailored approaches for regulatory demands like Sarbanes-Oxley compliance.[36][37] In fiscal year 2025 (ended May 31, 2025), Deloitte's global Audit and Assurance revenue contributed to the firm's overall $70.5 billion in aggregate revenue, marking a 3.8% growth in local currency from the prior year and positioning it as the largest assurance segment among the Big Four firms, with approximately $21 billion in 2024 assurance revenues. The U.S. practice, a key component, audited about 14.3% of SEC-registered public companies in 2024, including major clients such as MetLife, which ratified Deloitte as its auditor that year for fees exceeding $72 million. Globally, the service audits thousands of entities, with strengths in high-volume public company engagements and industry-specific expertise, though it faces competition from peers like PwC and EY in market share for Fortune 500 clients.[6][7][38] Regulatory scrutiny by bodies like the U.S. Public Company Accounting Oversight Board (PCAOB) has identified ongoing audit deficiencies in Deloitte's inspections, with Part I.A deficiency rates averaging around 11% over recent years, including failures to obtain sufficient evidence in areas like revenue recognition and internal controls. The PCAOB's 2024 inspection report for Deloitte & Touche LLP detailed specific issuer audit deficiencies, such as inadequate testing of valuations and compliance with standards, contributing to criticisms of quality control systems for the fourth consecutive year. While preliminary 2025 results indicate some improvements in deficiency rates across large firms, including Deloitte, isolated issues persist, exemplified by a $3 million PCAOB fine in June 2025 against Deloitte's Netherlands affiliate for exam misconduct involving inspection preparation.[39][40][41] Recent investigations highlight audit risks in high-stakes sectors; for instance, the UK Financial Reporting Council launched a probe in July 2025 into Deloitte's audits of Glencore PLC, focusing on potential failures in detecting material misstatements related to bribery and sanctions compliance. Similarly, a July 2025 report noted Deloitte's audit shortcomings in fintech firm Stenn, missing $1.7 million in inflows from Russian-linked entities amid geopolitical risks. These cases underscore causal factors in audit lapses, such as overreliance on management representations without independent corroboration, though Deloitte maintains investments in remediation, including enhanced training and tech integration, to mitigate recurrence. Regulatory data from PCAOB and FRC, independent of firm self-reporting, reveal patterns where deficiencies correlate with complex, high-risk audits rather than systemic fraud, but they erode investor confidence when undetected issues surface post-engagement.[42][43][44]Consulting and Strategy
Deloitte's consulting services provide advisory support to organizations on operational improvements, technology implementation, human capital strategies, and analytics-driven decision-making. These offerings integrate industry-specific expertise with functional capabilities to address complex business challenges. The practice emphasizes end-to-end solutions, from initial assessment to execution, often leveraging proprietary tools and data analytics for measurable outcomes.[45] Within consulting, Deloitte's strategy arm, branded as Monitor Deloitte following the 2013 acquisition of Monitor Group, focuses on developing enterprise-level and business-unit strategies. This unit assists clients in formulating growth plans, including organic expansion, mergers and acquisitions, and business model innovations, while mitigating risks associated with strategic decisions. The acquisition, completed on January 11, 2013, integrated Monitor's expertise—originally founded by Harvard Business School professors including Michael Porter—into Deloitte's network, bolstering its capabilities in competitive positioning and performance enhancement.[46][47] Deloitte Strategy & Transactions extends strategy services into transactional advisory, covering valuation, restructuring, infrastructure development, and sustainability integration. These services support clients through the full lifecycle of strategic initiatives, from ideation to post-implementation review, with a particular emphasis on mergers, acquisitions, and capital optimization. For instance, the practice aids in de-risking high-stakes decisions by combining scenario modeling with market intelligence.[48][49] Consulting revenue contributes substantially to Deloitte's overall financials, reflecting demand for these services amid digital transformation and economic uncertainty. In fiscal year 2024, ending May 31, Deloitte's global revenue reached $67.2 billion, with consulting and advisory segments driving growth through client engagements in technology enablement and operational resilience.[50] The firm's scale, with over 300,000 professionals in consulting roles worldwide, enables delivery across sectors like financial services, consumer products, and public sector entities.[45]Risk Advisory and Financial Services
Deloitte's Risk Advisory practice offers services focused on identifying, assessing, and managing enterprise-wide risks through integrated frameworks combining technology, analytics, and regulatory expertise. Key areas include enterprise risk management, which provides consultative and managed services to detect and respond to critical events such as disruptions or compliance failures, emphasizing proactive governance and resilience strategies.[51] Operational risk management delivers structured approaches to quantify and mitigate risks arising from business processes, internal controls, and external factors like supply chain vulnerabilities.[52] Additional offerings encompass cyber risk services addressing ecosystem-level threats, third-party risk management for vendor screening and monitoring, and model risk management involving assessment, development, and governance of predictive models used in financial and operational decisions.[53][54][55] Financial risk services within Risk Advisory target governance, processes, technology, and reporting to enhance transparency, efficiency, and compliance in areas like credit, market, liquidity, and treasury risks.[56] Risk data management programs support clients in building robust data infrastructures for risk measurement and decision-making across industries.[57] Forensic services investigate disputes, financial crimes, and regulatory challenges, integrating ecosystem perspectives to resolve issues such as fraud or anti-bribery violations.[58] These services leverage advanced tools like AI-driven analytics and sustainability risk assessments to align risk strategies with broader business objectives.[59] Deloitte's Financial Advisory services provide specialized support for transactions, disputes, and value preservation during critical events, distinct from core risk functions but often intersecting in areas like forensics and restructuring. Core offerings include mergers and acquisitions advisory, covering deal structuring, due diligence, and post-merger integration; restructuring services for distressed assets, debt optimization, and turnaround strategies; and valuation services employing economic modeling and analytics for asset pricing and dispute resolution.[60][61] Forensic investigations handle fraud detection, whistleblower responses, and litigation support, while value creation services focus on post-transaction performance improvement and infrastructure advisory for large-scale projects.[49] These practices serve private companies, owners, and institutions navigating financial transactions, with an emphasis on unlocking sustainable value amid economic volatility.[62]Tax, Legal, and Compliance
Deloitte's tax services encompass global compliance, advisory, and implementation to streamline tax processes and address strategic challenges. Offerings include business tax planning, indirect tax management, international tax structuring, transfer pricing, and M&A-related tax guidance. The firm supports cross-border operations, such as advisory on OECD Pillar Two global minimum tax implementation, and integrates sustainability considerations like climate-related tax impacts. Technological tools, including the AI- and cloud-based Intela platform alongside generative AI applications, enable efficient tax operations transformation.[63][64][65] Deloitte Legal delivers advisory services blending legal expertise with business acumen and technology, targeting chief legal officers' priorities in revenue enhancement, risk mitigation, and operational efficiency. Key areas cover corporate law, joint ventures, reorganizations, and M&A transactions, with emphasis on leveraging emerging technologies like generative AI for legal innovation. Operating globally, these services draw on decades of industry knowledge from lawyers, consultants, and technologists to navigate regulatory changes and foster cross-border solutions.[66][67][68] Compliance services integrate with tax and legal practices to manage regulatory risks, including program design, policy assessment, monitoring, and risk evaluations tailored to organizational needs. Deloitte provides regulatory compliance support for financial reporting, operational risk reduction, and forensic investigations into issues like fraud, corruption, and money laundering using analytics platforms. Outsourced options handle tax and finance documentation, while enterprise-wide approaches centralize ethics and compliance amid evolving regulations. In tax disputes, dedicated teams with former government experience assist in audits, alternative resolutions, and litigation strategy.[69][70][71][72]Global Operations
Headquarters and Regional Hubs
Deloitte Touche Tohmatsu Limited (DTTL), the UK-based private company limited by guarantee that coordinates the Deloitte network of member firms, maintains its global headquarters in London, United Kingdom.[22] This structure reflects the firm's origins as a British entity, with DTTL overseeing strategy, brand standards, and shared services across approximately 700 offices in over 150 countries, though individual member firms operate independently under local regulations.[22] In the Americas, Deloitte LLP's national headquarters for the United States is located at 30 Rockefeller Plaza in New York City, employing oversight for operations spanning more than 80 U.S. offices and supporting around 80,000 professionals.[73] As of April 2025, the firm committed to relocating its North American headquarters to 70 Hudson Yards in Manhattan, leasing 800,000 square feet in a new 1.1 million-square-foot tower to consolidate regional functions amid post-pandemic office strategy shifts.[74] For Europe, Middle East, and Africa (EMEA), London serves as the primary coordination hub, aligning with DTTL's global role and hosting key leadership for the region's member firms across dozens of countries.[75] In Asia Pacific, operations lack a singular regional headquarters but rely on major hubs in Singapore (at OUE Downtown 2, Shenton Way) and Hong Kong (One Pacific Place, Admiralty), where Deloitte Asia Pacific coordinates over 110,000 professionals across 23 geographies, focusing on high-growth markets like China and India.[76][77][78] These hubs facilitate service delivery, including consulting and tax advisory, tailored to local economic conditions while adhering to global standards.Major Markets and Workforce Distribution
Deloitte's primary revenue-generating markets are in the Americas, which produced $36.4 billion in fiscal year 2024, representing slightly more than half of the firm's global total of $67.2 billion.[79] The United States dominates within this region, accounting for $35.7 billion in revenues for the U.S. member firm in the fiscal year ended May 31, 2025.[80] EMEA and Asia Pacific constitute the other major markets, with regional growth in local currency for fiscal year 2025 reaching 7.1% in the Americas and 4.9% in Asia Pacific, underscoring the firm's emphasis on North American expansion amid varying global demand for audit, consulting, and advisory services.[6] The firm's global workforce totals approximately 470,000 employees as of 2025, distributed across more than 150 countries to align with client needs and operational efficiencies.[81] The Americas, particularly the U.S., host the largest share, with about 173,000 employees in 2024 supporting high-value services like consulting and financial advisory.[16] In Asia Pacific, India maintains a substantial workforce of roughly 120,000, focused on technology-enabled services, back-office operations, and talent development for global delivery.[82] EMEA features notable concentrations, such as the United Kingdom with around 26,000 employees, emphasizing audit and risk advisory amid regulatory demands.[83] This distribution facilitates cost arbitrage, with lower-wage regions like India enabling scalability while mature markets like the U.S. drive revenue through client proximity and specialized expertise.Branding and Identity
Evolution of Name and Logo
Deloitte originated in 1845 when William Welch Deloitte established the accounting firm William Deloitte & Co. in London, focusing on auditing and financial services for emerging industries like railways.[84] The firm expanded through partnerships and mergers, leading to name changes that reflected growing scale and integration. By the early 20th century, it had incorporated names like Plender, and in 1972, Deloitte Plender Griffiths & Co. merged with Haskins & Sells to form Deloitte Haskins & Sells, consolidating operations across the UK and US.[85] In 1989, Deloitte Haskins & Sells merged with the US-based Touche Ross, creating Deloitte & Touche and establishing one of the largest professional services networks globally, with coordinated international practices including Tohmatsu in Japan.[86] [87] This merger aimed to combine complementary strengths in audit, tax, and consulting amid increasing competition. In 2003, the firm streamlined its identity by dropping "& Touche," adopting simply Deloitte to emphasize a unified global presence and move beyond legacy merger names.[88] The logo evolved in tandem with these name shifts, transitioning from firm-specific emblems to a cohesive brand symbol. Pre-merger logos, such as Touche Ross's 1960 black-and-white triangular badge, emphasized geometric simplicity.[89] Post-1989, designs incorporated merger elements like a red tetrahedron against green, signaling integration. The 2003 rebranding introduced the signature green dot after "Deloitte" on a green field, derived from repositioning the "i" dot to denote growth, vitality, and forward momentum—initially considered but adopted after internal debate over its whimsy.[89] [15] In 2016, Deloitte updated its visual identity to a black sans-serif wordmark paired with the retained green dot, adopting a custom typeface with diagonal edges for a modern, stable appearance that aligned with digital-era professionalism and differentiated from prior blue-heavy palettes.[89] [90] This minimalist evolution supported broader marketing efforts to position the firm as innovative across audit, consulting, and advisory services.Marketing and Public Perception
Deloitte employs a multifaceted marketing approach emphasizing thought leadership, digital transformation, and targeted sponsorships to position itself as a forward-thinking professional services firm. The company invests heavily in content marketing, producing annual reports such as the Global Human Capital Trends and Connected Consumer surveys to establish authority in industry insights and client decision-making.[91][92] Sponsorships form a core element, including official partnership with the London 2012 Olympic Games as its most recent major "brand investment" prior to subsequent digital-focused efforts, and ongoing commitments to women's sports such as US Soccer's SheBelieves platform since 2019.[93][94] Key advertising campaigns include the 2019 global brand initiative centered on the purpose "make an impact that matters," which aimed to unify messaging across services and foster internal alignment through platforms like Deloitte University.[95] Earlier efforts, such as the 2007-2008 campaign and the action-oriented "Deloitte Do" positioning, targeted C-suite executives by highlighting problem-solving capabilities amid competitive differentiation.[93] Through Deloitte Digital, the firm extends its marketing via customer journey orchestration, social media strategies, and personalized email campaigns, often leveraging data analytics for lead generation and brand activation.[96][97] Public perception of Deloitte remains predominantly positive in professional and brand valuation metrics, with Brand Finance ranking it as the world's most valuable commercial services brand for 2025 at $41.1 billion, following a similar top position in 2024 despite a 2% value decline.[98][99] It features prominently in prestige lists, such as Forbes' 2024 ranking of top management consulting firms, underscoring its elite status among peers.[100] However, employee feedback reveals mixed views, with Glassdoor ratings averaging 3.8 out of 5 from over 109,000 reviews, citing strengths in career opportunities but criticisms of work-life imbalance and perceived arrogance among consultants.[101][102] Recent incidents, including an October 2025 Australian government report marred by AI-generated errors, have drawn scrutiny and potentially eroded trust in specific markets.[103]Financial Performance and Recognition
Revenue Growth and Economic Metrics
Deloitte's global revenue, reported as aggregate member firm revenue, has exhibited robust long-term growth driven by expansion in consulting, advisory, and tax services amid increasing demand for professional services in complex regulatory and digital transformation environments. For the fiscal year ending May 31, 2025 (FY2025), the firm achieved US$70.5 billion, marking a 4.8% increase in local currency terms from FY2024. This followed FY2024's US$67.2 billion, with a more modest 3.1% growth, reflecting a deceleration from the double-digit expansions in prior years amid economic headwinds such as inflation and geopolitical tensions.[6][104] Earlier periods showed stronger momentum, with FY2023 revenue at US$64.9 billion (14.9% growth) and FY2022 at US$59.3 billion (19.6% growth), fueled by post-pandemic recovery and acquisitions.[104][105]| Fiscal Year | Revenue (US$ billion) | Growth (local currency %) |
|---|---|---|
| 2025 | 70.5 | 4.8 |
| 2024 | 67.2 | 3.1 |
| 2023 | 64.9 | 14.9 |
| 2022 | 59.3 | 19.6 |