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
MSCI Launches a Consultation on a Proposal to Reclassify Indonesia from Emerging Market to Standalone Market Status15.10.2026 23:47:00 CEST | Press release
MSCI to consult on proposal to reclassify the MSCI Indonesia Indexes to Standalone Market status Existing freeze on Indonesian securities in MSCI Indexes to remain in place until further notice MSCI announced the launch of a consultation on a proposal to reclassify the MSCI Indonesia Indexes from Emerging Market to Standalone Market status. MSCI will announce its final decision by the end of June 2027 and may provide an interim update on market participant feedback during the consultation period. As part of the June 2026 Market Classification Review, MSCI reported that market participants had raised significant concerns regarding the investability of the Indonesian equity market, including persistent opacity in shareholding structures and suspected coordinated trading behavior. While the Indonesian authorities have announced reforms, including enhanced disclosure of shareholders with ownership above 1%, more granular investor classification disclosure, High Shareholding Concentration (
Nekome: Nazi Hunter Unmasks Hitler’s Hyenas in New Trailer Ahead of Steam Next Fest Demo15.10.2026 21:38:00 CEST | Press release
Free demo offers players the first chance to pick up the knife in ProbablyMonsters’ narrative-driven action game beginning on October 19 ProbablyMonsters, an independent video game company creating original AA games with AAA sensibilities, today unveiled a new trailer for Nekome: Nazi Hunterat the Galaxies Autumn Showcase, pulling back the curtain on the game’s villains, Hitler’s Hyenas. Alongside the new trailer, ProbablyMonsters announced that Nekome: Nazi Hunter will participate in October’s Steam Next Fest, giving players their first opportunity to experience this violent odyssey of revenge with a free PC demo available on Steam from October 19 through 26. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261014661905/en/ “Nekome is Vano’s story: an exploration of a young Romani man who has had everything taken away from him, and who decides to pick up a knife and exact revenge on his family’s murderers,” said Jeronimo Barr
The Estée Lauder Companies Announces BEAUTY&YOU India 2026 Winners and Marks Five Years of Advancing Indian Beauty Entrepreneurship15.10.2026 17:58:00 CEST | Press release
In partnership with Startup India and Nykaa, the program recognizes five winners across in-market beauty brands, early-stage concepts, fragrance innovation, creative design, and women’s entrepreneurship. The Estée Lauder Companies, in partnership with Nykaa and Startup India, an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) within India’s Ministry of Commerce and Industry, announced the winners of BEAUTY&YOU India 2026, the country’s leading beauty entrepreneurship program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261015612324/en/ (L to R) BEAUTY&YOU India 2026 Winners Ajaykumar Mehta, Shriya Rambhia, and Dheer Rambhia, Directors, Goyam Green Tech (BREAKTHROUGH), Nirja Bhatt, Founder & CEO, Laani (GROW), Khatija Shabana, CEO, and Syed Mohammad Fouzan, Director, Boldpurity (IMAGINE), Rinzing Choden Bhutia, Founder, Agapi Sikkim (Visionary Women’s Award), and Pankti Sheth, Founder & Cr
Body of Waves, a New Artwork Only at teamLab Planets TOKYO, Unveiled15.10.2026 17:00:00 CEST | Press release
The visitor experiences offered by “Existence in the Flow Creates Vortices” and “Waterfall of Ephemeral Crystals” have also been further expanded. teamLab Planets TOKYO (hereinafter referred to as “teamLab Planets”) has unveiled Body of Waves, a new artwork in which visitors enter a soft sculpture with their entire bodies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261014474897/en/ teamLab, Body of Waves, 2026, from the series Soft Black Hole - Your Body Becomes a Space that Influences Another Body, 2016-© teamLab *Shot in real space. No AI or CGI. In addition, Existence in the Flow Creates Vortices—where vortices are created behind people as they climb against the flow—and Waterfall of Ephemeral Crystals—where shining particles cascade down to create a waterfall of light particles—have also evolved, further expanding the experience at teamLab Planets. New Artwork Body of Waves As you walk, your feet sink. This force is
BioLab Holdings Launches EmeraNova™ to Advance the Future of Tissue Restoration15.10.2026 17:00:00 CEST | Press release
Expanded vision reflects focus beyond wound care to advancing innovation across the full tissue restoration journey BioLab Holdings announced today a new, larger mission with the launch of EmeraNova™, a new corporate identity that reflects a broader ambition to advance tissue restoration across specialties, healing phases, and care settings. The launch marks the company’s efforts to build a global platform focused on identifying promising technologies and accelerating their path into clinical practice. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261015721831/en/ EmeraNova seeks partners around the world to bring promising technologies to market quickly and equip clinicians with advanced, effective solutions. EmeraNova represents a vision to pursue emerging (Emer) and new (Nova) technologies by building an expanding toolbox of tissue restoration solutions, world-class support, and ways to bring together expert voices and c
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