Tecnotree, a leader in digital platforms for AI, 5G, and cloud-native technologies, released its financial results for Q3 2024, demonstrating strong operational and financial performance.
Q3 2024 Financial Highlights:
- Positive free cash flow of EUR 1.7 million, marking the second consecutive quarter of positive cash flow
- Foreign exchange gains of EUR 0.3 million
- Net income reached EUR 4.1 million, up from EUR 3.2 million in the previous year
- Gross cash inflow from operating activities rose to EUR 5.5 million, a 358% increase year-over-year
- Earnings per share increased to EUR 0.24
- Order book at EUR 75.1 million
Note: Tecnotree executed a reverse share split on April 19, 2024, consolidating every 20 shares into one.
CEO Commentary:
Tecnotree CEO Padma Ravichander remarked, “Our Q3 2024 results reflect our strategic shift toward more profitable and cash-generating business. We’re pleased to see continued growth in markets like North America and Europe, now comprising 22% of our revenue, up from 17% last year. A 7% growth in ARR revenue underscores the strength of our product and market positioning.”
Ravichander emphasized Tecnotree’s improved operational efficiency, which led to a 10% reduction in operating expenses and sustained positive cash flow. The company is committed to optimizing working capital and driving long-term profitability.
Business Highlights:
Tecnotree was recognized by Gartner and IDC for advancements in CPQ, marketplaces, and partner ecosystem monetization. Precision Reports identified Tecnotree as a top vendor in billing and revenue monetization for consecutive years. Additionally, Tecnotree Moments introduced a GenAI social commerce agent in collaboration with a major telecom provider in MEA and was nominated for a “Vendor of the Year” award alongside a Tier 1 CSP group in LATAM.
Looking Ahead:
Tecnotree aims to further build its order book in North America and Europe, optimize costs, improve working capital, and maintain positive cash flow into Q4 and beyond.
About Tecnotree
Tecnotree is a global leader in 5G-ready digital Business Support Systems (BSS) with AI/ML and multi-cloud capabilities. The company boasts 59 certified Open APIs, with a comprehensive digital BSS stack that spans order-to-cash processes for telecom and digital services industries. Tecnotree’s Moments platform powers a digital marketplace that supports diverse ecosystems like gaming, health, and OTT services, creating new digital community experiences. Tecnotree is listed on the Helsinki Nasdaq (TEM1V). For more information, visit Tecnotree’s website or follow Tecnotree on LinkedIn, Facebook, and Twitter.
