WALLIX GROUP (ALLIX) H2 2025 earnings summary

Executive summary

• Achieved a key milestone in 2025 with a scalable, profitable business model and over 70% of revenues from recurring business.

• Positioned as a leading European cybersecurity provider, focusing on identity and access management for organizations of all sizes.

• Strategic focus on expanding into large enterprise segment and strengthening partnerships with Global System Integrators.

Financial highlights

• Full-year turnover rose 19.2% to €40.6 million compared to 2024.

• Monthly recurring revenue (MRR) up 29.1% year-over-year, reaching €2.6 million at December 31, 2025.

• Recurring business accounted for 70.7% of turnover, up from 67.7% in 2024.

• Operating loss reduced to €0.8 million in 2025 from €5.7 million in 2024; second half operating margin at 9.5%.

• Net loss narrowed to €0.9 million in 2025 from €4.3 million in 2024; net profit of €0.6 million excluding external factors.

• Positive free cash flow of €1.0 million, reversing a €4.9 million outflow in 2024.

• Cash and cash equivalents increased to €12.1 million at year-end 2025.

Outlook and guidance

• 2026 targets include hypergrowth in recurring business, positive operating earnings, and free cash flow.

• Plans to expand key account teams, especially in Germany and Northern Europe, and secure two strategic GSI partnerships per year.

• Continued disciplined investment to support organic, self-financed growth.