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
The Empire State Building Presents First-Ever Children’s Birthday Party Package for Celebrations at the Iconic Observatory Experience23.2.2026 15:13:00 CET | Press release
Express Access, Party Favors, and Private Room with Decorations and Ghirardelli Ice Cream Sundaes Parents who have looked for the best birthday party idea for their children have had their wish fulfilled. Today, the Empire State Building (ESB) announced the debut of its first-ever ESB Birthday Party Package for kids at the international icon’s Observatory as part of year-long 95th anniversary celebrations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260223161708/en/ The Empire State Building Presents First-Ever Children’s Birthday Party Package for Celebrations at the Iconic Observatory Experience “From Lego playtime to Percy Jackson readers, children love the Empire State Building and now parents can give an unmatched experience to their children and their friends,” said Anthony E. Malkin, chairman and CEO of Empire State Realty Trust. “This birthday party package tops them all with an escorted visit through our world-fa
Xsolla Co-Sponsors Gamescom Dev Leadership Summit in Lisbon, Bringing Together Gaming Industry Leaders to Shape the Future of Game Development23.2.2026 15:00:00 CET | Press release
Platform Supporting 1,500+ Game Developers Across 200+ Geographies to Host Networking Dinner and Co-Moderate Strategic Roundtable at Premier European Gaming Executive Summit Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced its co-sponsorship of the Gamescom Dev Leadership Summit Lisbon, taking place February 24-26 at SUD Lisboa in Portugal. The event brings together gaming industry executives, studio founders, and business leaders to explore opportunities and innovations shaping the future of game development. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260223253705/en/ Graphic: Xsolla As part of its sponsorship, Xsolla will host the summit's Wednesday evening networking dinner and co-moderate a strategic roundtable session focused on business models and sustainable growth in the gaming industry. "We're seeing incredible innovation from studios acro
CoolMPS™ 600: Accurate and Affordable Long MPS/NGS Reads on a Mid-Throughput Platform23.2.2026 15:00:00 CET | Press release
Swiss Rockets AG announces that its CoolMPS 600 mid-throughput sequencer with advanced chemistry and novel MPS/NGS read length will become available in Q2 2026. Enabled by its exclusive license of CoolMPS technology, Swiss Rockets AG is developing its first sequencer, CoolMPS 600, through contract R&D with Complete Genomics since August 2025. The platform is utilizing the company’s proprietary antibody-based CoolMPS™ chemistry combined with DNBSEQ™, a real PCR-free DNA nanoarray technology. Separately, Swiss Rockets AG announced that it has entered into a definitive agreement to acquire 100% ownership of Complete Genomics. CoolMPS 600 enables cost-effective extended single-end sequencing to 600 bases (SE600) while maintaining high base accuracy. The system is designed to support advanced whole-genome sequencing (WGS) with improved mapping accuracy across complex genomic regions, including better detection of structural variants. It also enables full length transcriptomes and more infor
Angelini Pharma and Quiver Bioscience Announce Strategic Research Collaboration and Licensing Agreement to Discover and Advance Novel Therapeutics for Genetic Epilepsies23.2.2026 14:08:00 CET | Press release
Angelini Pharma secures exclusive global license rights to future identified drug targets Quiver receives undisclosed advance payment and is eligible for future milestone-dependent payments and royalties Collaboration further expands Angelini Pharma’s focus on brain health, building on its deep therapeutic expertise and drug development experience Angelini Pharma, part of the privately owned Angelini Industries, and Quiver Bioscience (“Quiver”), a discovery technology and therapeutics company advancing programs for the treatment of central nervous system (CNS) disorders, announced today that they have entered into a collaboration and licensing agreement to advance novel therapeutics for genetic epilepsies. The collaboration brings together Quiver’s unique drug discovery capabilities, data assets, and AI models with Angelini Pharma’s established expertise in brain health and epilepsy drug development. This press release features multimedia. View the full release here: https://www.busine
Armis Achieves U.S. Department of Defense Impact Level 5 Authorization23.2.2026 14:00:00 CET | Press release
DoD customers can now leverage Armis Centrix™ with enhanced security controls and connectivity Armis, the cyber exposure management & security company, today announced that it has achieved authorization from the U.S. DoD’s Defense Information Systems Agency (DISA) to operate at an Impact Level 5 (IL5). This means that Armis has met strict requirements to manage and secure the DoD’s critical infrastructure, including Controlled Unclassified Information (CUI) systems. “We are committed to helping Federal agencies like the Department of Defense address their toughest cybersecurity challenges,” said Alex Mosher, President and CRO at Armis. “Achieving DISA IL5 authorization is an important milestone for Armis as we continue to support DoD customers in safeguarding critical systems, sensitive data and national security infrastructure from evolving cyber threats.” Armis empowers Federal agencies to build and optimize comprehensive cybersecurity programs with Armis Centrix™, the FedRAMP and DI
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