(News Bulletin 247) – Wallix has started the year 2023 with a bang, signing a strong acceleration in the growth of its turnover, which exceeded 30% in the first quarter.

The cybersecurity software publisher reported a turnover of 6.1 million euros over the first three months of the year, compared with 4.7 million euros over the same period of the 2022 financial year.

As of March 31, its monthly recurring revenue represented €1.3 million, an increase of 26.5% compared to March 31, 2022, or the equivalent of €15.4 million in recurring revenue on a annual.

Wallix thus says to start the year 2023 with a level of recurring revenue equivalent to 61.3% of its consolidated turnover in 2022.

In a note of reaction, analysts at Invest Securities hail an ‘encouraging start to the year’ which they consider capable of ‘restoring confidence’.

“While the stock is close to its historic lows after poorly received 2022 results, the performance of the first quarter of 2023 should be welcomed positively”, comments the stockbroker.

Invest considers that this publication should make it possible to consolidate the expectations of the consensus and to hope for a return to performance more in line with the ambitions of the management.

Regarding its outlook, Wallix reiterated its ambition to significantly improve its results under the effect of a gradual return to normal operating expenses, still planning to reach a break-even operating result in 2024. .

After the publication of these figures, Wallix shares climbed almost 7% on Friday morning on the Paris Stock Exchange, giving a market capitalization of 57.5 million euros.

Since the beginning of the year, the title still shows a decline of 17%.

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