TECNOTREE
9.8.2024 13:08:28 CEST | Business Wire | Press release
Tecnotree, a global leader in digital platforms for AI, 5G, and cloud-native technologies for the telecommunications industries, has released its H1 2024 financial results, demonstrating revenue stability, positive free cash flow, enhanced product offerings and acquisition of new logos.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240809334279/en/
(Graphic: Business Wire)
First half (January-June 2024)
- Net sales of EUR 34.9 (34.8) million. Net sales in constant currency grew by 5% to EUR 40.8 million.
- Adjusted operating result of EUR 10.9 (9.8) million.
- Free cash flow of EUR 0.8 (-0.8) million.
- Earnings per share were EUR 0.22 (0.02*).
*On 19 April 2024, Tecnotree executed a reverse split, i.e. the reduction of the number of shares where every 20 old shares in the company corresponds to one new share.
Key Achievements:
- New Customer Acquisitions: Added 6 new customers in global growth markets, including South Africa, Mexico, Peru, Brazil, Uganda, and Kenya.
- Digital Stack Deliveries: 10 successful digital transformation projects were completed in H1 2024 for key customers including STC group, Ooredoo Tunisia, MTN group OpCos, Zain and Emtel.
- Product Feature Enrichment: 600 new product features were added on the digital stack in H1 2024, enhancing key areas such as multitenancy, AIML, cloud-nativity, campaign as a service, marketplace for API and IOT monetization.
- Gartner® Magic Quadrant™: Tecnotree Sensa was featured in the June 2024 Gartner® Magic Quadrant™ for AI in CSP for Customer and Business Operations, highlighting leadership and innovation.
- Gartner® Hype Cycles™: Tecnotree Moments was recognized in three Hype Cycles™: Enterprise Communication Services, Private Mobile Network Services, and Operations & Automation in the Communications Industry for Partner Ecosystem Management and CSP Digital Marketplaces. Tecnotree Moments was positioned as a significant innovation trigger to help CSPs in their vertical and horizontal monetisation strategies.
- TM Forum Excellence Awards: Tecnotree Moments was recognised as a Finalist in the TMForum 2024 Excellence Awards for enabling B2B2C network monetization in healthcare.
- Strategic Partnerships: Tecnotree received significant interest from SI partners and Hyperscalers. Tecnotree continues to strengthen alliances with HCL Tech and Microsoft Azure to expand market reach, demonstrating Tecnotree’s SI-ready status and attracting global interest.
- Sensa Certifai Launch: Tecnotree introduced Tecnotree Certifai, meeting EU AI Act requirements and positioning Tecnotree as the only key player for the telecom industry equipped to support European CSPs in Trust and Governance capabilities. This is significant for CSPs in Europe that are under “high risk” as per Annex III of the EU AI Act 2024.
CEO Statement:
Padma Ravichander, CEO of Tecnotree, stated, “Our H1 performance underscores our resilience and strategic focus. Despite market challenges, we’ve demonstrated positive improvement in the Free Cash Flow, maintained revenue stability and achieved significant operational efficiencies in deliveries and collections. Our strategic emphasis on digital transformation and cost optimization has strengthened our performance in H1 2024. With new customer acquisitions, unique product offerings, analyst validations and strategic partnerships, we are poised to drive further innovation and deliver exceptional value to our customers. I am extremely excited about the value proposition that Sensa Certifai product launch brings to the European CSP market in terms of enriching trust, governance, and transparency for customers.”
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/20240809334279/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
Union of Kansai Governments: Kansai Deep Tech Ecosystem Gains Global Visibility31.3.2026 02:00:00 CEST | Press release
Platform Update Reflects 20-Place Rise in GSER Ranking The Union of Kansai Governments has refreshed the Kansai Startup Ecosystem portal, strengthening the region’s global communication platform for startups and deep tech. At the same time, the “DeepTech Frontier Kansai” website has also been updated, further enhancing international visibility for Kansai’s rapidly growing deep tech ecosystem. Kansai’s startup ecosystem has demonstrated steady growth in recent years. The ecosystem’s total value expanded from USD 2.68 billion in 2023 to USD 3.23 billion in 2025. In addition, Kansai rose 20 places in the Global Startup Ecosystem Ranking (GSER) published by Startup Genome, climbing from 99th in 2023 to 79th in 2025, and early-stage funding reached USD 124 million. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260330459051/en/ Kansai’s Strength in Deep Tech Kansai represents a rare ecosystem where fundamental research and indust
Merz Aesthetics® Announces EU Approval of Two New Indications for Their Hyaluronic Acid Filler BELOTERO® Balance30.3.2026 22:49:00 CEST | Press release
Merz Aesthetics®, the world’s largest dedicated medical aesthetics business, is pleased to announce that BELOTERO® Balance has received EU approval for two additional indications: the treatment of infraorbital hollow (including the tear trough) and horizontal forehead lines1*. “With these new approvals, BELOTERO® Balance further strengthens its position as a versatile hyaluronic acid dermal filler, with a wide range of approved facial indications1 designed to integrate seamlessly within the skin and deliver predictable, harmonious aesthetic outcomes,” said Dr. Kerstin Olsson, Head of Medical Affairs EMEA. The approval of these two new indications is supported by compelling clinical evidence: In a clinical investigation on infraorbital hollow, 98.9% of subjects demonstrated visible improvement at Week 8, with long-lasting results sustained up to 72 weeks, and no treatment related serious adverse events reported.2 Similarly, in a postmarket investigation on horizontal forehead lines, 82.
Klarna Payments Now Available at B-Parts, Europe's Largest Automotive Parts Website30.3.2026 21:51:00 CEST | Press release
B-Parts is now offering its customers a more personalised and flexible shopping experience, with interest-free payments via "Pay in 3", amongst other Klarna features. Klarna, the global digital bank and flexible payments provider, is joining forces with B-Parts, a leading online retailer of used and original car parts, to offer consumers greater flexibility, convenience, choice and control at the point of payments, with no interest or hidden fees. Through Klarna’s interest-free installment payments, B-Parts customers will benefit from greater flexibility and control over their finances. Klarna also ensures a secure shopping experience thanks to its buyer protection scheme, as well as a range of features such as cashback and deals. "We continue to grow locally, with an increasing number of brands across different sectors recognising the enormous advantage of offering their customers more payment options, those that make for a more convenient and seamless checkout experience," explains I
Office of His Highness Sheikh Hamdan Bin Ahmed Al Maktoum Holdings & Gatbits IT Infrastructure Announce Launch of GTBS Digital Ecosystem; Mainnet Set for April 202630.3.2026 20:30:00 CEST | Press release
The Office of His Highness Sheikh Hamdan Bin Ahmed Al Maktoum Holdings, in collaboration with Gatbits IT Infrastructure, has officially announced the launch of the GTBS Digital Ecosystem, marking a significant step forward in the global Web3 space. The announcement follows the successful launch of the native GTBS Coin on December 25, with the ecosystem’s mainnet scheduled to go live in April 2026. GTBS represents a full-stack Web3 ecosystem integrating blockchain, artificial intelligence, decentralized finance (DeFi), entertainment, gaming, media, and cloud infrastructure into a unified platform. Built on the philosophy of “All Commitment On Time,” the ecosystem focuses on delivering reliability, scalability, and real-world utility. Designed as a comprehensive digital infrastructure, GTBS goes beyond standalone crypto platforms by offering an integrated environment for users, developers, creators, and enterprises. Its proprietary Layer-1 blockchain powers seamless interaction across se
Yubico Appoints Poupak Modirassari Enbom as Chief Marketing Officer to Accelerate Global Momentum and Drive Market Leadership30.3.2026 15:00:00 CEST | Press release
Yubico (NASDAQ STOCKHOLM: YUBICO), the creator of the most secure passkeys and a leading provider of hardware authentication security keys, today announced the appointment of Poupak Enbom as Chief Marketing Officer (CMO). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260330278027/en/ Enbom joins Yubico at a pivotal moment as organizations worldwide accelerate the shift to phishing-resistant authentication and modern identity security in the age of AI. “We’re excited to welcome Poupak to Yubico,” said Jerrod Chong, acting chief executive officer, Yubico. “As the threat landscape evolves with AI-driven attacks and increasing automation, organizations are rethinking how they secure digital identities of both humans and AI agents at scale. She brings a unique combination of technical depth, global leadership, and customer-first mindset that will help us continue to expand our impact and support our customers and partners around
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