(Boursier.com) — Over the entire 2023 financial year, Ateme’s turnover amounted to €100 million, up 10% compared to 2022, and up 12% based on comparable.
Monthly recurring revenue (MRR) amounted to €2.47 million in January 2024, reflecting good growth in MRR in the 4th quarter of 2023, after a decline in the first nine months of 2023 due to the termination of a major contract subscription.
Ateme begins the 2024 financial year with an annual recurring revenue (ARR) base of €29.6 million in January 2024, representing 30% of the previous year’s revenue.
Ateme continued to invest in 2023 to support its growth. Operating expenses increased by +14% to €62.3 million, notably with an increase in the total workforce, from 560 to 580 employees at the end of the financial year.
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EBITDA amounted to EUR2.7 million in 202E, compared to EUR5 million for the previous year, reflecting the continuation of investments throughout 2023, and the delay in revenue recognition for certain projects postponed by 2023 to 2024.
The operating profit amounted to -2.4 ME, while the net result stood at -4 ME, including a negative financial result of -1 ME and exchange losses of -0.5 ME.
Equity amounted to 38 ME as of December 31, 2023.
As of December 31, 2023, net debt stood at 23.8 ME compared to 20.1 ME. It includes a Research Tax Credit receivable amounting to €12.3 million.
As announced at the beginning of 2021, Ateme intends to reap, from 2024, the fruits of the last three years of commercial and R&D investments and improve its profitability.
Ateme sets the objective of maintaining its cost base and workforce stable in 2024. This objective will be accompanied by cost reduction efforts, notably on travel, trade shows, advertising, offices, energy, expenses related to cloud infrastructures, investments in laboratories, etc.
Ateme also confirms its strategic decision to reduce its exposure in a few difficult countries, notably in the Asia-Pacific and Latin America regions.
The company is also streamlining its product lines in order to reduce the costs associated with maintaining certain old architectures.
Building on its growth drivers and the control of its operational costs, Ateme confirms its objective of an EBITDA of 10 ME for the 2024 financial year.
Ateme also maintains its growth objective in monthly recurring revenues, with the aim of increasing them to 3 ME in 2024.