On Friday, Wallix, a cybersecurity software company, confirmed its target of 'solid' growth in both 2023 and 2024, with break-even achieved by 2024.

The group also reiterated its ambition to improve its results from the second half of 2023, which contributed to the strong rise (+13%) in its share price today on Euronext Paris.

Third-quarter sales growth was 20% (+22% excluding Russia), with sales of exactly seven million euros.

For the first nine months of the year, consolidated sales came to 20.9 million euros, up 24% (+27% excluding Russia).

The consensus forecast for 2023-24 is for sales of 31 million euros (+23%) and 40.9 million euros (+31.8%) respectively", say analysts at Invest Securities.

"In view of the nine-month performance, these expectations imply fourth-quarter 23 sales of 10.1 million euros (+21%)", adds the research firm.

In its press release, Wallix points out that its business continues to be driven by "sustained" demand from mid-sized companies, and by the acceleration in the number of major projects in the industrial sector.

Above all, Wallix highlights the growth of almost 33% in its
monthly recurring revenues over the first nine months of the year, confirming the transformation of its model towards subscription.

These represented 18.6 million euros at the end of September, or 74% of 2022 sales.

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