Paragon ID has reported a nearly break-even net income of -0.1 million euros for its first half of 2022-23, compared with -2.5 million a year earlier, and a current operating income of +1.8 million, compared with -0.8 million in the first half of 2021-22.

The identification solutions provider saw its EBITDA rise by 68% to 6.6 million euros, giving an EBITDA margin of 7.3% on sales of 89.9 million euros, up 59% (of which 50% organic).

Paragon ID anticipates growth in excess of 30% for the 2022-23 financial year (compared with the initial target of 10%, which was raised to 20% by the end of October 2022, and then to 30% by the end of January 2023), which would bring annual sales to over 170 million euros.

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