TECNOTREE
26.4.2024 10:47:33 CEST | Business Wire | Press release
Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, today announced its financial results for the first quarter of 2024, demonstrating solid growth with a 4.7% increase in revenue. The company maintained its momentum in driving global sales of its digital platform, in the first quarter of 2024, completing many AIML and digital transformations to key customers, resulting in a significant increase in revenue. The growth was primarily driven by new wins in the LATAM region, while EMEA and APAC regions remain growing markets for the digital platform.
Key Q1 Highlights of the financial results:
- Net sales increased 4.7% to EUR 16.3 (15.5) million.
- Operating results increased by 22.3% to EUR 4.4 (3.6) million.
- Earnings per share EUR 0.01 (0.01).
- Order book at the end of the period increased by 10.3% to EUR 74.8 (67.8) million.
Tecnotree achieved several notable milestones in the first quarter. The company solidified its position as a trusted partner for telecom providers in AIML-powered BSS solutions by winning an AIML-enabled Digital Transformation partnership in Jordan, expanding its offerings in the Middle East. Additionally, Tecnotree secured Nuh-Digital in Brazil, increasing the number of MVNO wins in a new market. Tecnotree Moments platform was selected by Global Hitss to elevate e-health services across Mexico and Latin America, promising streamlined operations across the healthcare value chain. This initiative was also recognized by the TMForum 2024 Excellence Awards, where Tecnotree became the finalist, particularly for its collaboration with Globalhitss in bringing B2B2X healthcare to Mexico using the ODA framework and accelerating network monetization.
Padma Ravichander, CEO of Tecnotree Corporation, said, “With the revenue growth to EUR 16.3 million, the first quarter proved to be a great start to 2024. Tecnotree’s order book grew to EUR 74.8 million and the growth was supported by LATAM, Middle East, Africa, and APAC. Looking ahead, Tecnotree remains committed to extending its digital products and services to telecom operators worldwide and helping their digital transformation journeys. We aim to expand within existing markets while exploring new opportunities in the US, Europe, Oceania, Asia Pacific, and adjacent regions.
"With the partnerships for Tecnotree Moments that we are forging in LATAM with Global Hitss for E-health, we strengthen our eco-system play and plan to drive tangible business for all stakeholders.”
About Tecnotree
Tecnotree has been Empowering Digitally Connected Communities to over 90+ Telecom Providers around the world, since 1978. Our leading AIML-embedded, 5G-ready digital Business Support System (BSS), with multi-cloud extensibility, has challenged traditional transformation approaches and gained acceptance across a range of emerging and established markets, currently supporting over 1 billion subscribers. Change and transformation are at the very essence of our DNA driving continuous innovation, delivering world-class experiences and monetisation capabilities to telecom operators and their customers through Tecnotree Moments, enabling essential services beyond voice and data connectivity to other digital experiences in the area of health, education, financial inclusion and beyond. 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/20240426748962/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
NIQ Launches Survey Groups to Connect Consumer Sentiment with Real Purchase Behavior27.5.2026 13:00:00 CEST | Press release
New integrated capability connects consumer sentiment with real-world purchase data, enabling more confident, action‑driven decisions NIQ (NYSE: NIQ), a global leader in consumer intelligence, today announced the launch of Survey Groups in NIQ Discover, a new capability that enables brands and retailers to understand not just what is changing in the market, but why. Available immediately within NIQ Discover, Survey Groups build on NIQ Panel Surveys by linking attitudinal insights to real-world purchase behavior from NIQ’s consumer panels—helping clients uncover the motivations behind performance shifts, identify opportunity gaps, and act with greater confidence in an increasingly complex consumer landscape. What’s New: Survey Groups in Discover Survey Groups make NIQ Panel Survey insights easier to access, analyze, and activate within existing workflows. By grouping survey responses with purchase behavior, clients can: Analyze key consumer segments with greater precision Understand the
Platoon Aviation’s Fleet Will Expand Charter Operations to Become Europe’s Largest Cessna Citation Longitude Fleet27.5.2026 12:00:00 CEST | Press release
Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company, today announced it has entered into a multi-aircraft fleet purchase agreement with Platoon Aviation that positions the Hamburg-based charter operator to become the largest Cessna Citation Longitude fleet owner in Europe. Platoon Aviation provides on-demand private jet travel, serving business and leisure travelers seeking long-range capability, cabin comfort and operational reliability. Deliveries of the Citation Longitude aircraft are expected to begin in 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260527805306/en/ Platoon Aviation’s fleet will expand charter operations to become Europe’s largest Cessna Citation Longitude fleet. (Photo credit: Textron Aviation) “From performance and cabin experience to the strength of our global support network, the Citation Longitude provides charter operators with the confidence to grow their fleets and serve customers at
ZCG-Backed VENU+ Expands Global Footprint Through Strategic Partnership with Merlin Entertainments27.5.2026 12:00:00 CEST | Press release
Partnership brings next-generation photo capture experiences to leading attractions across Europe, North America, and Asia VENU+, a leading global provider of tech-enabled guest mobility, storage, and entertainment solutions and a portfolio company of Z Capital Group (“ZCG”), today announced a strategic partnership with Merlin Entertainments, a global leader in branded entertainment destinations, to enhance and expand photo capture experiences across Merlin’s international portfolio. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260527425123/en/ The partnership includes the rollout of VENU+’s Photo Capture platform across 13 Merlin attractions, including flagship destinations such as LEGOLAND® Resorts and the London Eye, spanning Europe, North America, and Asia. The staged implementation is already underway, with several locations operational and additional sites scheduled for activation throughout 2026. The agreement repre
euNetworks launches new quantum-safe private connectivity service powered by Adtran’s encrypted optical transport technology27.5.2026 10:00:00 CEST | Press release
News summary: Developed by euNetworks to deliver the highest levels of protection for sensitive data moving between European data centers Built on Adtran’s solution, euNetworks’ new Quantum Shield service enables quantum-safe encryption across private high-capacity connectivity, with continuous optical and fiber plant monitoring The new offering supports regulated industries with strong assurance against current and emerging cybersecurity threats Adtran and euNetworks today announced their collaboration on the launch of a new quantum-safe private connectivity service, Quantum Shield. euNetworks has developed Quantum Shield using Adtran’s optical transport technology to augment its broader architecture, which is designed to deliver secure, scalable data center connectivity across euNetworks’ pan-European network. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260526610601/en/ Adtran’s encrypted optical transport technology is
National Bank of Greece in Cyprus Goes Live With Smartstream’s Air to Consolidate Reconciliations27.5.2026 09:55:00 CEST | Press release
Key Facts National Bank of Greece in Cyprus has consolidated four previously separate reconciliations systems – Instant, Cash, SEPA, and Nostro reconciliations – into a single platform using Smartstream’s Air Cash modules. Smartstream Air’s AI-enabled capabilities significantly reduce daily manual effort, eliminate the need to work with multiple data formats, and proactively identify data quality issues from both internal sources and bank statements. Successfully deployed in three months with no existing technology to replace; Smartstream developed a custom automated encrypted file transfer solution to meet the bank’s strict data security requirements. Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announces that the National Bank of Greece (NBG) in Cyprus has successfully gone live with Air, the company’s AI-enabled reconciliation solution. The go-live marks a significant step forward in the bank’s operational efficien
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