WALLIX GROUP (ALLIX) H2 2025 earnings summary

Executive summary

• Achieved EUR 41 million in revenue for 2025, with over 3,900 active contracts across 100+ countries and a strong channel network of 350 resellers.

• Over 70% of business is recurring, providing high visibility and stability for future revenue streams.

• Recognized as a visionary in the cybersecurity sector by Gartner and KuppingerCole for the third consecutive year, with a diversified client base and global presence.

• Acquired Malizen in Q4 2025 to accelerate AI integration and enhance user behavior analytics capabilities.

• Customer base spans mid-sized companies, large enterprises, and critical sectors, focusing on privileged access management and compliance with European certifications.

Financial highlights

• Annual recurring revenue exceeded EUR 30 million, growing over 29% year-over-year.

• Consolidated revenue reached EUR 41 million, a 19.2% increase compared to 2024, with recurring revenues now over 70% of total.

• Revenue per employee/FTE increased to EUR 166,000, up 54% over three years.

• Operating income improved from EUR -5.7 million to EUR -0.8 million, with break-even and a 9.5% operating margin achieved in H2 2025.

• Net loss narrowed to EUR 0.9 million from EUR 4.3 million in 2024; free cash flow turned positive at over EUR 1 million, with gross cash above EUR 12 million at year-end.

Outlook and guidance

• Entering a new investment cycle focused on human and technological capital, innovation, and AI, with disciplined, self-financed growth.

• Launching the WALLIX One platform in early 2026 and an AI-driven user and entity behavior analytics solution after summer 2026.

• Plans to expand in large enterprise segments, strengthen presence in Germany and Northern Europe, and secure strategic GSI partnerships.

• Targeting further hypergrowth in recurring business, positive operating earnings, and leveraging regulatory momentum in Europe.

• Focus on OPEX control and maintaining profitable growth.