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
Private Markets Firms Face SPV Execution Pressure as LP Demands Rise3.6.2026 14:30:00 CEST | Press release
86% of private markets professionals report rising LP requests for tailored SPV arrangementsTransparency and reporting rank as the top LP priority, cited by 76% of respondents82% report increased demand for single-asset SPVs amid growing liquidity and execution pressures As private markets firms navigate a more challenging fundraising and exit environment, limited partners (LPs) are demanding greater transparency, stronger governance rights, and more flexible SPV arrangements from fund managers. In fact, 86% of private markets professionals report increased LP requests for tailored SPV structures over the past 12 months, according to a new study by CSC, the leading provider of global business administration and compliance solutions. CSC¹ surveyed 410 senior private markets practitioners across private equity, private credit, real estate, and infrastructure to examine how investor demands are reshaping SPV structures, operating models, and execution requirements. The findings are detail
NetApp and Cisco Accelerate and Secure AI Innovation3.6.2026 14:00:00 CEST | Press release
New FlexPod solutions deliver proven performance, security, and unified management for AI NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, and Cisco (NASDAQ: CSCO) today announced that they have collaborated to offer new validated solutions for secure, scalable, and simplified AI. Expanding the proven success of FlexPod, the new solutions provide a simple, reliable path for enterprises to address the specific challenges AI workloads place on compute, network, and storage infrastructure. “As IT teams are tasked with delivering reliable, consistent performance across environments, AI workloads are placing increasing demands on their data infrastructure,” said Dallas Olson, Chief Commercial Officer at NetApp. “NetApp and Cisco’s longstanding partnership on FlexPod has already proven effective, saving customers up to 20 percent of their time in infrastructure management and maintenance. Now, we are applying our combined expertise to modern challenges to accelerate AI ad
New Evidence Offers Hope for Ketogenic Therapy in Treatment of Anorexia Nervosa3.6.2026 14:00:00 CEST | Press release
Peer-reviewed feasibility pilot trial reports reduced eating disorder and depressive symptoms in difficult-to-treat psychiatric condition A pilot study published today in Communications Medicine demonstrates the potential of a new approach to treating anorexia nervosa — a disorder for which effective treatments have been significantly limited. The research from UC San Diego School of Medicine reports that a ketogenic nutritional intervention — a high-fat, low-carbohydrate, moderate-protein diet — was feasible and safe for patients with weight-normalized and mildly underweight anorexia nervosa. The ketogenic intervention was well-tolerated by participants, with high adherence rates and no significant weight loss observed throughout the program. Furthermore, significant improvements were observed in eating disorder symptoms, with nearly 3 in 4 of study completers in the recovered range at study end, no longer meeting criteria for an anorexia nervosa diagnosis, and all completers experien
NetApp and Cisco Collaboration Strengthens Defense-in-Depth for Enterprise Cyber Resilience3.6.2026 14:00:00 CEST | Press release
New NetApp Splunk SOAR playbook helps contain ransomware attacks and limit data loss NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, and Cisco (NASDAQ: CSCO), today announced an expansion of their collaboration to help customers strengthen defense-in-depth strategies for customers. Combining Intelligent Data Infrastructure with advanced analytics and observability capabilities, NetApp and Splunk have delivered deep, real-time visibility into storage and infrastructure health. Together, they are helping customers turn operational data into actionable insights that improve reliability, security, and business outcomes. By expanding their collaboration with the new NetApp Splunk Security Orchestration, Automation, and Response (SOAR) playbook, NetApp and Splunk are helping joint customers contain ransomware attacks and limit data loss at the storage layer, enhancing the containment of the blast radius of cyberattacks while increasing the speed and reducing the cost of
NIQ Named 2026 Retail & Consumer Goods Snowflake Product Partner of the Year3.6.2026 13:00:00 CEST | Press release
Award recognizes NIQ’s scalable commerce intelligence, data enrichment, and measurement solutions built on Snowflake’s AI Data Cloud NielsenIQ (NYSE:NIQ) today announced that it has been named the 2026 Retail & Consumer Goods Snowflake Product Partner of the Year award recipient by Snowflake, the AI Data Cloud company. NIQ was recognized for its achievements at Snowflake’s annual user conference, Snowflake Summit 26, for delivering scalable, cloud-native solutions on Snowflake that enable retailers, brands, and media partners to securely enrich data, measure performance, and unlock more precise, actionable commerce intelligence. Through Snowflake’s AI Data Cloud, NIQ helps joint customers collaborate across organizations, activate high-value data assets, and power advanced measurement while maintaining strong governance and data privacy controls. By embedding NIQ’s AI-driven data, models, and harmonization capabilities within Snowflake, customers can unify fragmented datasets into a tr
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