(AOF) – Wallix’s consolidated turnover at the end of March 2024 amounts to 7 million euros, an increase of 13.7%. The European publisher of cybersecurity software and expert in account governance was sanctioned on April 10 after revealing a more cautious 2024 outlook. Monthly recurring revenue (MRR) jumped 33.6% to €1.7 million. On an annual basis, recurring revenues reached 20.6 million euros at the end of March 2024, or 68.3% of consolidated revenue in 2023 and an increase of 7 points in 1 year.
The group still plans to “generate a positive operating result from the second half of 2024”. He also says he is “confident in his ability to maintain hypergrowth rates in his recurring revenues”.
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According to the latest Truffle 100 ranking, the sector’s total turnover in France jumped 15% last year to cross the 25 billion euro mark. The sector has benefited from an unprecedented growth rate and confirms its recovery after the health crisis. The average annual growth over fifteen years is 12 times higher than that of GDP! Dassault Systèmes retains first place with more than 5.6 billion euros in revenue last year. Cegid, specialist in software for accountants, and the fintech Murex are placed in second and third position with respectively 791 and 711 million euros in turnover. Polarization is one of the characteristics of the sector: the gap in turnover between the 50th and the 100th publisher has increased further in 2022 to reach almost 28 million euros. Performance was improved as the profitability rate (as a percentage of turnover) increased from 9.1% to 10.4%. The outlook is good because artificial intelligence, seen as revolutionary, is expected to drive the market in 2023, as is cybersecurity.