(Boursier.com) — WALLIX (Euronext ALLIX), European publisher of cybersecurity software, expert in identity and access management (IAM) and privileged account governance (PAM), announces its activity for the first quarter of 2024 .
As of March 31, 2024, monthly recurring revenue (MRR) stood at €1.7 million, up +33.6% compared to March 31, 2023, in line with the hypergrowth rates achieved during the two previous quarters.
On an annual basis, recurring revenues reach 20.6 ME at the end of March 2024, or 68.3% of consolidated turnover in 2023 and an increase of +7.0 points in 1 year.
The OT segment, dedicated to the protection of industrial systems and networks, is still recording very solid commercial momentum, particularly in the Middle East/Africa zone, and confirms to be a powerful area of conquest for the Group which is gradually establishing itself as a reference in the field. At the same time, the Group’s new commercial organization is beginning to demonstrate its potential with significant work to enhance the existing customer base (nearly 3,000 active contracts) by optimizing the basket of potential customers through sales operations. up-selling and cross-selling.
Consolidated turnover at the end of March 2024 amounted to €7 million, up 13.7% compared to the first quarter of 2023, demonstrating good control of the transformation of the model towards subscription.
Confirmation of return to profitable growth in the second half of 2024
In a context of continuous evolution, multiplication of cyberattacks and massification of cybersecurity, WALLIX positions itself as a European player in PAM with solutions certified in France, soon in Germany, and a unique positioning in OT giving it major competitive advantages. Given the dynamism of the market and the growth levers available to the Group, WALLIX is confident in its ability to maintain hypergrowth rates in its recurring revenues and generate positive operating income from the second half of 2024.
Next meeting: Cyber Vision Day by WALLIX, May 21.
Next publication: Half-year turnover, July 18.
©2024 Boursier.com