WALLIX GROUP (ALLIX) H2 2024 earnings summary

Executive summary

• Achieved a return to profitability in H2 2024, with positive operating and net income, driven by operational leverage and cost control.

• Annual recurring revenue reached €24.5 million, reflecting a 24.4% year-over-year increase in monthly recurring revenue.

• 2024 revenue totaled €34.1 million, up 12.9% year-over-year, with recurring revenue representing 67.7% of turnover.

• Company recognized as a European leader in identity and access cybersecurity, securing 80% of France's essential service operators and recognized by Gartner.

• Gross cash and cash equivalents at year-end 2024 stood at €11.2 million, supporting continued investment and growth.

Financial highlights

• H2 2024 operating profit was €0.6 million and net profit €1.3 million, reversing losses from H1 2024.

• Full-year 2024 net loss reduced to €4.3 million from €8.5 million in 2023.

• Cash burn reduced from €4.8 million in H1 to €1.6 million in H2; year-end cash position exceeded €11 million.

• Financial debt stands at €8.3 million, with 52% as medium-term debt and €5 million in convertible bonds.

• Gross margin improved due to higher recurring revenue and cost discipline.

Outlook and guidance

• 2025 expected to align with H2 2024 performance, maintaining profitability and strong recurring revenue growth.

• No need for external financing anticipated; focus on scaling business model and operational efficiency.

• Strategic focus on capturing market share as new European cybersecurity regulations expand the addressable market.