WALLIX GROUP (ALLIX) Q4 2025 TU earnings summary

Executive summary

• Achieved record turnover of €40.6 million in 2025, up 19.2% year-over-year, with strong momentum in recurring revenue and improved profitability.

• Monthly recurring revenue (MRR) rose 29.1% to €2.6 million as of December 31, 2025; annual recurring revenue (ARR) reached €31.6 million.

• Entered a new cycle of profitable growth, with operating earnings close to breakeven for the full year and a significant margin improvement in the second half.

Financial highlights

• Recurring business (subscriptions + maintenance) accounted for 70.7% of turnover, driven by a 44.3% increase in subscription revenue.

• Operating losses narrowed from €9.5 million in 2023 and €5.7 million in 2024 to near breakeven in 2025.

• Turnover in France grew 17.3%, EMEA (excluding France) 23.9%, while USA and Rest of World declined 20.9%.

• Quarterly turnover growth was consistent, with Q1–Q4 2025 all showing double-digit increases year-over-year.

Outlook and guidance

• Forecasts for 2026 include continued growth, controlled investments, and further profitability improvements.

• Focus on deploying the product roadmap and business development, especially in Germany and Northern Europe.