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
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
Westinghouse Celebrates Record-breaking 80 Years of Nuclear Fuel Manufacture at Springfields30.3.2026 14:00:00 CEST | Press release
Fuel manufactured at Springfields has generated enough energy to supply the UK’s electricity demand for 26 years, avoiding the emission of nearly 3 billion tonnes of CO2 The Westinghouse Springfields facility in Lancashire, UK, has marked a significant milestone as the oldest continuous nuclear fuel manufacturing site in the world, starting from its original license on the 28th, March 1946. The site was chosen by the UK Government to develop nuclear fuel for the world’s earliest civil nuclear power stations, as well as subsequent Magnox and Advanced Gas Reactors (AGR) reactors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260330135973/en/ From left to right: Sophie Lemaire; Marc Chevrel; Rory O'Neill; Craig Boothby; and Robert Gofton, CEO at Nuclear Institute Across the last eight decades, the Springfields site has supported the UK nuclear fleet, manufacturing more than eight million AGR pins, sintering and pressing over 5
HistoSonics Treats First Patients Evaluating the Edison® Histotripsy System for the Treatment of Benign Prostatic Hyperplasia (BPH)30.3.2026 14:00:00 CEST | Press release
HistoSonics, the developer of the Edison® Histotripsy System and novel histotripsy therapy platform, today announced the successful treatments of the first patients in WOLVERINE, a prospective feasibility trial evaluating the Edison® Histotripsy System for the treatment of benign prostatic hyperplasia (BPH) at Prince of Wales Hospital in Hong Kong, a teaching hospital for The Chinese University of Hong Kong. The Edison System is a novel, non-invasive, image guided platform that uses the mechanical properties of focused ultrasound, called histotripsy, to destroy unwanted tissue without the need for invasive procedures, and with potentially fewer side effects than traditional, invasive therapies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260330349844/en/ HistoSonics Non-Invasive Edison Histotripsy System. Image credit: HistoSonics WOLVERINE is a prospective, multi-center, single-arm feasibility trial designed to evaluate
Biocytogen Grants Taisho Pharmaceutical a License to its RenNano® Fully Human Heavy Chain-Only Antibody Discovery Platform30.3.2026 13:00:00 CEST | Press release
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen, SSE: 688796; HKEX: 02315), a global biotechnology company that drives the research and development of novel antibody-based drugs with innovative technologies, today announced that it has entered into a platform license agreement with Taisho Pharmaceutical Co., Ltd. (“Taisho”), granting Taisho the right to access and use Biocytogen’s proprietary RenNano® fully human heavy chain-only antibody (HCAbs) discovery platform for its internal research and development programs. Under the terms of the agreement, Taisho will leverage RenNano® mice to enable the generation and screening of fully human HCAbs in vivo and to support downstream research associated with antibody discovery. Financial terms of the agreement have not been disclosed. “We are very pleased to enter into this collaboration with Taisho,” said Dr. Yuelei Shen, President and CEO of Biocytogen. “RenNano® is a robust and powerful fully human VHH discovery platform that pro
Meiji Seika Pharma Invests in Centivax to Develop Next Generation Universal Vaccine Platform30.3.2026 13:00:00 CEST | Press release
Meiji Seika Pharma Co., Ltd. (Head Office: Chuo-ku, Tokyo, President and Representative Director: Toshiaki Nagasato) today announced a strategic investment in Centivax, Inc. (Head Office: South San Francisco, CA, USA), a biotechnology company developing next-generation vaccines and therapies for universal protection against highly diverse targets. Centivax’s lead program includes a universal seasonal influenza vaccine (Centi-Flu 01) currently in a Phase 1 clinical study. Unlike conventional seasonal flu vaccines, which must be manufactured annually based on recommended candidate vaccine viruses, Centivax’s platform focuses both antibody and cellular immune responses on conserved regions of the influenza virus that cannot mutate and are shared across strains and distant subtypes. This approach aims to generate broad, consistent, and durable immunity against both seasonal and pandemic influenza. Meiji’s strategic investment aims to accelerate the advancement of Centi-Flu 01 and further a
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