WALLIX GROUP (ALLIX) Q3 2024 TU earnings summary

Executive summary

• Monthly recurring revenue (MRR) rose 23.7% year-over-year to €1.9 million as of September 30, 2024, with recurring business now 73.5% of turnover.

• Consolidated turnover for Q3 2024 increased 13.4% to €7.8 million, and for the first nine months reached €22.9 million, up 10.2% year-over-year.

• Strategic focus on subscription model and client portfolio expansion drove hypergrowth, especially in EMEA and France.

Financial highlights

• Recurring business (subscriptions + maintenance) for the first nine months totaled €16.9 million, up 80% in subscription revenue.

• Recurring business share of turnover increased by 12.5 percentage points year-over-year.

• Commercial pipeline creation grew 64% in Q2 and Q3 2024 compared to the previous five quarters.

Outlook and guidance

• Targets confirmed for hypergrowth in recurring business for full-year 2024 and sequential turnover growth.

• Operating profit expected in the second half of 2024 and positive operating income targeted for 2025.

• Anticipates stronger market momentum in 2025 due to regulatory drivers (NIS2, Dora) and cost savings.