In accordance with its disclosure policy, the cybersecurity company Nixu releases its half-year review and financial statement, including revenue figures for the first and third quarters of the year. After Nixu's last year's transfer to the Nasdaq Helsinki main list, we now include a free-format CEO's review to our quarterly reports.
Nixu announced today that its unaudited revenue for January - March 2019 was EUR 12.6 million, whereas the revenue in the comparison period of January - March 2018 was EUR 9.2 million. Growth rate 37%. All growth was organic.
The company reiterates its financial guidance for 2019: Nixu continues to emphasize the importance of growth and continues to invest heavily in growth projects. Supported by strong organic growth and the completed acquisitions, Nixu estimates its revenue to grow over 40% from the previous financial year. The full year EBITDA is estimated to improve significantly from the previous financial year.
CEO Petri Kairinen:
In Nixu's annual cycle, the period of January - March is typically a slower time due to new beginnings getting slowly started after end of the year's hectic period. This year, however, has kicked off at an exceptional rate, our organic revenue growth having reached 37 %. The increasing share of our continuous services and large cybersecurity partnerships has contributed to this growth in particular. In addition, the period also included resale deals for cybersecurity technology solutions. It goes without saying that I am extremely happy with the performance of our business.
During the first half of the year, the Nixu family grew by two new teams, following the acquisitions of the Swedish Vesper Group cybersecurity unit and the Danish cybersecurity company Ezenta A/S. The revenue figures of the two companies are not included in the Q1 results, but they will be consolidated into Nixu's figures from April onwards.
Both acquisitions contribute to the implementation of Nixu's growth strategy. The Swedish team brings along great, technology-based continuous customer relationships, and we have already discussed further expansion of other Nixu services with these customers. The acquired business is profitable as well, and contributes to scaling our Swedish operations to critical mass and achieving a clear lead in the Swedish cybersecurity market.
In Denmark, Nixu has previously served individual customers, but we have lacked a local presence and market understanding. Ezenta is a well-established, well-known and well-esteemed local player around whom we can build Nixu's services and offerings for Danish customers. In addition, Ezenta team brings good know-how on technology partnerships and their utilization to other markets of Nixu, as well.
As digitalization progresses at an accelerating pace, the role of Nixu and its employees in safeguarding the functioning of digital society is becoming increasingly clear. In accordance with our strategy, we aim to offer the best work place for cybersecurity professionals. As part of this strategy, we announced a long-term employee share-based incentive program in March to increase employee ownership. Traditionally, the share issues to personnel have been well received, and now that Nixu has grown, it is a good time to offer all Nixuans again the opportunity to become an owner and commit to long-term growth. In addition, this is also a sincere thanks to all Nixuans who have been pivotal in making our growth strategy a reality.
View the interview with Petri Kairinen, Nixu CEO available at www.nixu.com/investors/Q12019
Chief Executive Officer Petri Kairinen, Nixu Corporation
telephone +358 40 832 1832, email: firstname.lastname@example.org
Nixu in brief:
Nixu is a cybersecurity services company on a mission to keep the digital society running. Our passion is to help organizations embrace digitalization securely. Partnering with our clients we provide practical solutions for ensuring business continuity, an easy access to digital services and data protection. We aim to provide the best workplace to our team of nearly 400 cybersecurity professionals with a hands-on attitude. With Nordic roots we serve enterprise clients worldwide. Nixu shares are listed on the Nasdaq Helsinki stock exchange.