WALLIX GROUP (ALLIX) H2 2024 earnings summary

Executive summary

• Achieved positive operating and net profit in H2 2024, marking a return to profitability driven by operational leverage and cost control.

• Monthly recurring revenue (MRR) rose 24.4% year-over-year to €2.0 million at December 31, 2024, with annual recurring business at €24.5 million.

• 2024 consolidated turnover reached €34.1 million, up 12.9% year-over-year, with recurring business making up 67.7% of turnover.

• 601 new contracts signed in 2024, increasing the active contract portfolio by 21% to 3,529.

• Gross cash and cash equivalents stood at €11.2 million at year-end 2024, supporting continued investment and growth.

Financial highlights

• H2 2024 operating profit was €0.6 million and net profit €1.3 million, reversing losses from H1 2024.

• Full-year 2024 operating loss was €5.7 million, net loss €4.3 million, both halved compared to 2023.

• Payroll increase limited to 1.7% in H2 2024, with a 5.3% reduction in other purchases and external expenses.

• Gross margin improved due to higher recurring revenue and cost discipline.

Outlook and guidance

• Operating profit forecast for full-year 2025, with expectations of continued hypergrowth in recurring business.

• Expansion planned in IAM and PAM offerings to address growing cybersecurity needs, without external financing.

• Anticipates increased demand from new European regulations (NIS2, DORA) and rising defense budgets.