(CercleFinance.com) – Wallix reported on Thursday widening losses for the 2023 financial year and pushed back its key objective of achieving financial balance this year, announcements which caused its stock to fall by more than 10% this year. morning at the Paris Stock Exchange.
The cybersecurity software publisher reported last night an operating loss of almost 9.5 million euros for 2023, compared with a shortfall of 7.1 million euros in 2022.
Jean-Noël de Galzain, its CEO, explains the accentuation of these losses by the end of an investment cycle focused on enriching the offer and strengthening the workforce in the 16 countries where the group is present.
Annual turnover reached a record level, more than 30 million euros last year, representing growth of 20%.
A closely followed indicator, the monthly recurring income (MRR) stood at 1.6 million euros at the end of 2023, with a growth rate still accelerating, to 32.9% compared to the end of 2022.
In its press release, Wallix declares itself confident in its ability to maintain high growth rates of its recurring revenues and to generate a positive operating result from the second half of 2024.
Invest Securities analysts, however, point out that the group had previously indicated that it was aiming for a break-even operating result for the entire 2024 financial year, and not for the second half of the year.
‘The 2024 trajectory therefore seems to have to be revised downwards’, underlines the research office.
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