(AOF) – Wallix falls 10.91% to 8.98 euros while the company is more cautious about its 2024 outlook. The European publisher of cybersecurity software and expert in account governance plans to “generate a result of positive operating results from the second half of 2024” while it communicated in February on the achievement of a “balanced operating result in 2024”. Wallix also says it is “confident in its ability to maintain high growth rates in its recurring revenues”.
Last February, the group explained that it was “in a good position to maintain hyper growth rates in its recurring revenues”.
“The 2024 trajectory therefore seems to have to be revised downwards,” commented Invest Securities.
Last year, Wallix revealed a net loss of 8.53 million euros compared to a loss of 6 million euros in 2022. The operating loss followed the same trend, increasing in one year from 7.13 million euros to -9.5 million euros.
The turnover amounts to 30.2 million euros in 2023, an increase of 19.9%. On an annual basis, recurring revenues reach 19.7 million euros, or 65.2% of turnover compared to 58.9% at the end of 2022.
“The group unveiled annual results yesterday evening marked by a slight increase in losses in a context of continued investments and reorganization of the sales force” commented Invest Securities.
Wallix’s cash flow net of financial debts stands at 8.9 million euros for shareholders’ equity of 15.1 million.
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