TECNOTREE
Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, today announced its financial results for the fourth quarter and full year of 2023. The company delivered record revenue at 78.4 M Euros, outperforming global market trends, with excellent demand for Tecnotree products. Tecnotree experienced the highest-ever order intake at 95.4 M Euros and secured 12 new logos including 3 Tier-1 operators in Scandinavia and North America regions, reflecting an increased demand for digital cloud offerings.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240222509053/en/
(Graphic: Business Wire)
Key highlights of the fourth quarter 2023:
- Net sales increased 10.4% to EUR 22.2 (20.1) million
- Operating results increased 29.5% to EUR 7.9 (6.1) million
- The result for the period decreased by 22.5% mainly due to a higher exchange loss of EUR 2.4 (3.1) million
- Operating Cash flow EUR 4.7 (0.6) million
- Earnings per share EUR 0.01 (0.01)
- Order book at the end of the period increased by 16.4% to EUR 80.2 (68.9) million
Key Highlights for the full year 2023:
- Net sales increased 9.5% to EUR 78.4 (71.6) million
- Operating results increased 30.2% to EUR 23.8 (18.3) million
- Result for the period is EUR 11.2 (11.6) million
- Operating Cash flow EUR 6.2 (6.0) million
- Earnings per share EUR 0.04 (0.04)
Tecnotree CEO, Padma Ravichander, said, “As we close out the fourth quarter and the full year, I am proud to say that we have surpassed our expectations by delivering record order intake, record revenue, and high profitability. We continued to execute our strategy in 2023 and demonstrated digital leadership thanks to Tecnotree’s competitive product portfolio and its ability to drive outcome-based digital transformations. In 2023, the company increased its investment in AIML competitiveness, which accounted for 15.6% of the total order intake, resulting in AIML revenue exceeding the projected growth for the year.
We have continued to build and transform our culture in 2023 and have consistently showcased our dedication to driving innovation and value for our customers. I would like to express my gratitude to our partners and employees for their commitment to carrying out Tecnotree's vision, together we stand ready to shape the future. Looking ahead, our competitive strength will be the cornerstone of everything we do, as we remain focused on delivering differentiated experiences.”
Significant milestones and business achievements for the year included:
- Tecnotree celebrated 14 go-lives globally for some of the largest operator groups across various regions, delivering large-scale Digital BSS transformation for customers through the Tecnotree Digital Suite.
- Gartner recognized Tecnotree in their Market Guide for Customer Experience Management and in another Market Guide for Revenue Monetisation and Management.
- Tecnotree was recognized as a Finalist in the TM Forum Excellence Awards 2023 for Customer Experience for the implementation of the Tecnotree Digital Stack embedded with AIML to drive business outcomes for MTN
- Tecnotree was awarded the Diamond Badge for TM Forum Open API Conformance. The certification verifies the successful implementation of Open APIs with conformance to a total of 9 real-world and 59 certified Open APIs. This achievement makes Tecnotree No. 1 on the TM Forum Open API Conformance table.
- The company was also the Top Vendor for official conformance and certification for TM Forum's Business Process Framework (eTOM) in 2023
- Tecnotree obtained 20 new patents covering various areas such as Augmented Intelligence, Gen AI, ML Ops, and Data Ops. The patents also include common frameworks and methodologies, utilizing Sensa Low-Code Tooling & Platform and Co-pilots embedded for FTTX, Mobile, and B2B2x Marketplace B/OSS modules.
- The company was recognized among the top 4 major vendors globally for Autonomous AI and Autonomous Agents Market by Markets and Markets for implementing various types of organic and inorganic growth strategies such as product launches, upgrades, partnerships, M&As, and business expansions by region and by verticals
- Tecnotree Moments was awarded best Telecom Monetisation Platform by the Dubai Government
- The company was honoured with two prestigious awards - ‘Best Innovation in Information Technology’ by CMO Asia and 'Best Workplace Diversity Award' by UBS Forums
- Tecnotree was recognized as a top performing Mid-Cap company by the Nordic Diversity Index, reinforcing our commitment to fostering a diverse and inclusive workplace that drives innovation and empowers every individual within the company
About Tecnotree
Tecnotree is a 5G-ready digital Business Support System (BSS) player, with AI/ML capabilities and multi-cloud extensibility. Tecnotree leads the way on the TM Forum Open API Conformance with 59 certified Open APIs including 9 real-world open APIs, a testament to the company's commitment to excellence, and continuously striving to deliver differentiated experiences and services to both CSPs and DSPs. Our agile and open-source digital BSS Stack comprises the full range (order-to-cash) of business processes and subscription management for telecom and other digital services industries creating opportunities beyond connectivity. Tecnotree also provides Fintech and B2B2X multi-experience digital marketplace to its subscriber base through the Tecnotree Moments platform to empower digitally connected communities across gaming, health, education, OTT, and other vertical ecosystems. Tecnotree is listed on the Helsinki Nasdaq (TEM1V).
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240222509053/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Kaneka Obtains Halal Certificate for KANEKA UBIQUINOL TM9.7.2025 03:30:00 CEST | Press release
Kaneka Corporation (Headquarters: Minato-ku, Tokyo; President: Kazuhiko Fujii) (TOKYO:4118) has obtained “Halal Certificate (Certification Number: 355-TSRI/24)” for its functional food ingredient, KANEKA UBIQUINOLTM (active form of coenzyme Q10) powder, under the assessment of Shariah Research Institute of Takushoku University, and issued by JAPAN MUSLIM ASSOCIATION, a religious corporation, on May 28. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250708279133/en/ Halal certificate Halal certification is a system in which relevant organizations verify that products or services do not contain ingredients prohibited under Shariah (Islamic law) and certify their compliance with Shariah. We actively pursue the acquisition of various certifications to ensure the safety and security of our raw materials, and we are pleased to announce that we have obtained a Halal Certificate for KANEKA UBIQUINOLTM. Currently, the Muslim populati
SiPearl: Final closing of €130m Series A with Cathay Venture (Taiwan), EIC Fund and France 20308.7.2025 17:25:00 CEST | Press release
Tape-out of Rhea1, the most complex processor ever designed in Europe which will equip JUPITER, the 1st European exascale supercomputer Largest Series A in the European fabless semiconductor industry including €32m in new funding to close Series A and prepare the launch of Series B Strengthening ties with Taiwan’s semiconductor ecosystem to complement Europe’s sovereignty in supercomputing and AI SiPearl, the company building European high-performance energy-efficient processors for supercomputing and AI has achieved the definitive closing of its €130m Series A with a third tranche of €32m. Seed funded by the European Union, SiPearl was launched in January 2020 under the auspices of the European Processor Initiative consortium which aims to foster the return of high-performance energy-efficient processor technologies in Europe. Since then, the company has fulfilled its mission by building a world-class processor team of 200 employees in France, Spain, and Italy, set up its own sovereig
LambdaTest Unveils Smart Branching and Baseline Management to Modernize Visual Testing Workflows8.7.2025 17:00:00 CEST | Press release
SmartUI now aligns visual testing with real-world development practices, eliminating baseline confusion and making visual QA effortless across teams LambdaTest, a GenAI-powered quality engineering platform, has announced the release of SmartUI’sSmart Branching and Baseline Management, a major leap forward in visual testing. This update eliminates long-standing bottlenecks caused by outdated baseline strategies and introduces an intelligent, streamlined way for development teams to manage visual testing across complex Git workflows. Modern development teams utilise feature branches, release versions, and hotfix workflows; however, most visual testing tools still rely on comparisons against the main branch, resulting in irrelevant failures and time-consuming approvals. LambdaTest’s SmartUI changes that with features purpose-built for today’s branching strategies. Smart Branch Comparison ensures visual tests are run against the correct baseline, comparing within the same feature branch in
Connectivity as Versatile as the Aircraft, Starlink High-Speed Internet Now Available for Cessna Caravan8.7.2025 16:00:00 CEST | Press release
Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced an additional high-speed internet connectivity solution for the Cessna Citation Caravan following the Federal Aviation Administration’s (FAA) issuance of AeroMech’s Supplemental Type Certificate (STC) for Starlink high-speed internet connectivity. AeroMech’s STC utilizes Starlink’s constellation of Low Earth Orbit (LEO) satellites to provide more reliable connectivity over land, water and remote areas, where traditional in-flight Wi-Fi may not have service. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250708514119/en/ Textron Aviation announced an additional high-speed internet connectivity solution for the Cessna Citation Caravan following the Federal Aviation Administration’s (FAA) issuance of AeroMech’s Supplemental Type Certificate (STC) for Starlink high-speed internet connectivity. (Photo: Textron Aviation) “The Cessna Caravan is so versatile,
Rigaku Announces STAvesta, a Thermal Analyzer Tailor-made for Next-generation Material Development8.7.2025 16:00:00 CEST | Press release
Supports a wide range of users from novices to experts, serving a wide variety of needs Rigaku Corporation, a Group company of Rigaku Holdings Corporation (headquarters: Akishima, Tokyo; CEO: Jun Kawakami; hereinafter “Rigaku”) has launched worldwide sales of STAvesta, a thermal analyzer that simultaneously measures a sample’s weight and change in calorific value during heating. STAvesta responds to needs in a wide array of fields where thermal analysis is required. It is expected to find use in a wide variety of material-analysis applications for the development of advanced features and complex materials. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250708207135/en/ STAvesta FlatBlank, a Revolutionary Auto-adjustment Feature, Dramatically Reduces Workload In conventional thermal analysis, baseline adjustment must be performed by hand before measurement can begin. This process can be time-consuming and frustrating, particu
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom