WALLIX GROUP (ALLIX) H1 2025 earnings summary

Executive summary

• Revenue grew by 18.9% year-over-year to €18.0 million in H1 2025, with recurring revenues making up 74.5% of the total and MRR up 25.2% to €2.3 million.

• EBITDA turned positive at €0.6 million, a €4.1 million improvement from H1 2024, driven by operational leverage and cost control.

• Net loss narrowed to €3.1 million from €5.6 million, despite €1.0 million in negative impacts from currency effects and share-based provisions.

• Achieved BSI certification in Germany, strengthening position as a leading European cybersecurity provider and opening new market opportunities.

• Maintained strong financial autonomy and a sound cash position to support ongoing innovation and growth.

Financial highlights

• H1 2025 revenue rose to €18.0 million, up 18.9% from €15.1 million in H1 2024.

• Recurring revenue accounted for 74.5% of total, with subscriptions up 45.7% and maintenance up 13.0% year-over-year.

• EBITDA improved from -€3.6 million to €0.6 million; net loss reduced from -€5.6 million to -€3.1 million.

• Gross cash and cash equivalents stood at €9.4 million as of June 30, 2025; financial debt at €8.1 million, with 52% maturing in over three years.

• Free cash flow improved to -€1.5 million from -€3.8 million in H1 2024.

Outlook and guidance

• Operating profit target for 2025 reaffirmed, with expectations of strong H2 performance and continued profitable growth.

• Strategic investments in AI-driven features and product enhancements planned for 2026.

• Focus on compliance with evolving European cybersecurity regulations (NIS2, DORA) and certifications.

• Ongoing innovation and new product launches, including Web Session Manager and WALLIX One PAM Core, targeting SMBs.