Verimatrix Reports Q4 2023 Results, Revenue Growth of 6%
Verimatrix Reports Q4 2023 Results, Revenue Growth of 6%
Paris, February 27, 2024 – Verimatrix (Euronext Paris: VMX), a global cybersecurity provider and software innovator, today announced its fourth-quarter and full-year 2023 results.
“2023 marked an important milestone for Verimatrix. The transformation initiated three years ago on both the offers and the revenue model has enabled a stabilisation of revenue and an improvement in EBITDA. Due to changes in market conditions over the past two years, the ambitions for 2025 will take more time to achieve. In 2024, the teams remain focused on increasing recurring revenues to above 50% of total revenue, and on profitability. The cost structure will largely ensure future growth, which will be driven in particular by Extended Threat Defense and by an expansion of customers in the banking, insurance and automotive sectors,” says Amedeo D’Angelo, Executive Chairman of Verimatrix.
Title: Verimatrix Reports Q4 2023 Results, Revenue Growth of 6%
Content: Revenue Growth in the fourth quarter of 2023: $17m, +6%
Verimatrix posted consolidated revenue of $17.0 million in the fourth quarter of 2023, compared with $16.1 million in Q4 2022, an increase of 6%.
Title: Verimatrix Reports Q4 2023 Results, Revenue Growth of 6%
Content: Q4 23Q4 22Var.Recurring revenue7.77.2+7%Of which subscriptions3.72.8+32%Of which maintenance4.04.4-9%Non-recurring revenue9.