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
DEFINITIVE Trial Reaches Major Milestone: All Centres Approved and More Than 50% Recruitment Achieved7.5.2026 11:21:00 CEST | Press release
Poster presented at ESMO Breast Cancer 2026: Exploring health policy and real-world treatment strategies for early-stage HER2-positive breast cancer across Europe. The DEFINITIVE project, a landmark European Union-funded international phase III clinical trial evaluating the use of the HER2DX diagnostic assay to guide personalised treatment in early-stage HER2-positive breast cancer (BC), announces two major operational milestones at the ESMO Breast Cancer 2026 congress. Approvals have been obtained in the 7 participating countries, 33 clinicals sites are now open for patient recruitment. The trial has reached over 50% of its recruitment target, marking a pivotal moment on the path toward to transforming HER2-positive BC treatment. About the DEFINITIVE Project The DEFINITIVE project is a 5-year, prospective, open-label, randomised, two-arm phase III international clinical trial conducted across 44 centres in 7 European member states and associated countries. The trial aims to demonstrat
The AI Summit London Unveils 10th Anniversary Speaker Line-Up Featuring Global Leaders in Enterprise AI7.5.2026 10:00:00 CEST | Press release
Including Executives and Policymakers from the UK Government, NVIDIA, AWS, Tony Blair Institute, AstraZeneca and Virgin Atlantic The AI Summit London today unveiled its keynote speaker line-up for the event’s 10th anniversary edition, bringing together senior leaders, technologists and policymakers from across the globe. The 2026 programme will explore the transformative power of artificial intelligence across sectors including government, enterprise, healthcare, finance and AI infrastructure. Speakers from NVIDIA, Amazon Web Services, Virgin Atlantic, AstraZeneca, the Tony Blair Institute for Global Change and JPMorgan Chase will explore AI deployment, governance, infrastructure and customer transformation across major industries. Further, Jim Carter, Director General Commercial and Industry at the Ministry of Defence, Ollie Ilott, Interim Director General, Emerging Technology and AI, UK Government, and Sasha Rubel, Head of AI/Generative AI Policy, EMEA, Amazon Web Services will lead
MOVIVA® launch spotlight at ESGE Days 20267.5.2026 09:58:00 CEST | Press release
“Turn down the food noise” During its 175th anniversary year, Erbe Elektromedizin GmbH highlights its continued commitment to healthcare innovation with the launch of MOVIVA®, a minimally invasive solution for gastric mucosal ablation (GMA) in endoscopic obesity therapy. MOVIVA® will be the central focus of Erbe’s activities at ESGE Days in Milan, 14–16 May 2026. Physicians can explore the technology in the hands-on area and attend a dedicated symposium. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260507842222/en/ How GMA with MOVIVA® works “Obesity continues to rise worldwide, and many patients still face a gap between lifestyle interventions, pharmacotherapy, and bariatric surgery. Endoscopic approaches are emerging as additional treatment options. With MOVIVA®, we aim to support physicians in bringing this innovative treatment option into clinical practice and expanding access to minimally invasive obesity therapies.”
Resilience Takes Center Stage as Europe’s LEED Community Gathers in Milan for GBCI Europe Circle 20267.5.2026 09:57:00 CEST | Press release
GBCI Europe Impact Report 2026 highlights that 53% of European real estate leaders prioritize resilience as a financial imperative. Green Business Certification Inc. Europe (GBCI), is hosting Circle 2026, the annual flagship event of the European LEED community, taking place in Milan from May 6–8 and marking its fifth anniversary. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260506692329/en/ Porta Nuova, Milan - LEED v4.1 Communities: Existing, Gold certification. Photo courtesy of COIMA. At the center of discussions is LEED v5, the latest version of the world’s most widely used green building rating system, as a bridge to EU Taxonomy alignment - a critical priority for the European market, where regulatory pressure and investor demand are accelerating the integration of certification, finance, and ESG reporting. GBCI Europe Impact Report 2026: European Real Estate Shifts from Sustainability to Risk Management As part of t
Criteo Selects Navan to Modernize Global Travel Management7.5.2026 09:00:00 CEST | Press release
Global commerce intelligence platform delivers high employee satisfaction with Navan Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced that it has been selected by Criteo, the global commerce intelligence platform, to modernize its global travel program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260507251188/en/ Global commerce intelligence platform delivers high employee satisfaction with Navan Criteo set out to provide its global workforce with an easy-to-use travel booking experience that brought visibility and control to its travel spending. Prioritizing operational excellence and employee experience, Criteo selected Navan because of its extensive inventory, unified travel and payments platform, and global expertise in sustainability reporting. “We wanted to give our teams a travel tool that’s as easy to use as the apps they use in their personal lives,” said Sarah Gli
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