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Business Wire
28-07-2025
- Business
- Business Wire
VERIMATRIX: H1 2025 Revenue and Results
AIX-EN-PROVENCE, France & SAN DIEGO--(BUSINESS WIRE)--Regulatory News: VERIMATRIX (Euronext Paris: VMX, FR0010291245), a leading provider of security solutions for a safer connected world, is publishing its second quarter revenue and results for the six month period ended June 30, 2025. 'During the first half of 2025, Verimatrix operated in a more mixed environment, marked by a slowdown in activity and the deferral of orders. In this context, the Group has shown resilience and stayed the course thanks to a clear strategy focused on innovation, digital security and continuous adaptation to the needs of its customers worldwide. The recognition it obtained – including the 2025 Intellyx Digital Innovator Award and Leader and Ace Performer status by QKS Group in its 2025 SPARK MatrixTM: In-App Protection report – highlights our unique arsenal of in-app protection solutions and confirms the relevance of our technological and strategic directions. I would like to acknowledge the commitment and professionalism of all the teams, who remain fully committed to supporting Verimatrix's transformation. Despite the wait-and-see stance observed in our main markets, we are approaching the second half of the year with determination, underpinned by solid fundamentals and a clearly defined roadmap for recurring and sustainable growth', says Amedeo D'Angelo, Executive Chairman of VERIMATRIX. *** Amedeo D'Angelo, Executive Chairman, and Jean-François Labadie, Chief Financial Officer, will host a webcast today at 6.00 p.m. to present Q2 2025 revenue and H1 2025 results. To join the webcast, click on the following link: 'Q2 2025 revenue and H2 2025 results' To join the webcast in audio only, call the following number: France: +33 (0)4 88 80 09 30 Phone Conference ID: 465 325 068# *** Q2 2025 revenue and Annual Recurring Revenue (ARR) (in US$ million) Q2 2025 Q2 2024 Var. Recurring revenue 8.7 8.6 +1% of which subscriptions 4.7 4.4 +8% of which maintenance 3.9 4.2 -6% Non-recurring revenue 6.3 8.0 -21% Total revenue 15.0 16.6 -10% ARR 31.7 32.0 -1% of which subscriptions 18.4 16.8 +10% of which maintenance 13.2 15.3 -13% Expand In the second quarter of 2025, VERIMATRIX made consolidated revenue of $15.0 million, down 10% on the same period in 2024. Note that this represented an increase of 30% (+$3.5 million) compared to the first quarter of 2025, which had been significantly impacted by the macroeconomic environment and order deferrals. Recurring revenue Recurring revenue in Q2 came to $8.7 million, slightly higher than in Q2 2024. Subscription revenue remained strong at $4.7 million, up 8%, while maintenance revenue was down 6%. Non-recurring revenue After a complex first quarter 2025, non-recurring revenue showed a more positive trend, reaching $6.3 million in Q2. The Group benefited from several significant sales of perpetual license contracts, amounting to nearly $4 million, confirming steady interest from traditional broadcasting customers. However, this level is still significantly lower than that seen in Q2 2024 ($8 million). Annual recurring revenue (ARR) Total ARR at June 30, 2025 was $31.7 million, down by a slight 1% compared to June 30, 2024, and down in relation to $33.2 million recorded at the end of March 2025. ARR from subscriptions rose by 10% compared to Q2 2024, reaching $18.4 million, in line with the target announced by the Group at the beginning of the year to achieve another year of double-digit growth in ARR from subscriptions in 2025. ARR from subscriptions in Q2 was stable versus Q1 ($18.5 million). While a contract with a long-standing banking client of the Group was terminated, also impacting ARR from maintenance, the sales teams were able to extend services to certain customers and successfully converted several prospective contracts with video operators to our subscription offers, particularly in Latin Europe. H1 2025 revenue (in US$ million) H1 2025 H1 2024 Chg. Recurring revenue 17.3 17.1 +1% of which subscriptions 9.3 8.6 +9% of which maintenance 7.9 8.5 -7% Non-recurring revenue 9.2 13.7 -33% Total revenue 26.5 30.8 -14% Expand Revenue for the first half of 2025 was down 14% versus the first half of 2024. Recurring revenue rose by 1% to $17.3 million, thanks to strong subscription revenue, which rose by 9% to $9.3 million. At June 30, 2025, recurring revenue accounted for 65% of VERIMATRIX's total revenue. Non-recurring revenue fell 33% to $9.2 million, significantly impacted by the first quarter, during which license sales more than halved compared to the first quarter of 2024. - H1 2025 revenue by business activity: Anti-Piracy revenue reached $23.9 million, down 16% in H1, and accounting for 90% of the Group's total activity. Business activity was characterized by success in winning a major contract with a long-standing telecom operator in South America and the extension of commercial decision-making from new customers. Extended Threat Defense (XTD) revenue amounted to $2.6 million, up 6% on the first half of 2024, confirming the market's interest in this product range. - H1 2025 revenue by region: The Group's revenue figures by region reflect the overall evolution of the Group's activity, with mixed performances depending on the geographical area. Revenue in the EMEA region came to $13.7 million, up 24% (51% of VERIMATRIX's total revenue in the first half of 2025). Revenue in Asia Pacific was $2.8 million, down 20% over the first half. Revenue in Latin America was $5.3 million, down by a sharp 55%; this is the third consecutive quarter of decline, attributable to ongoing political and economic instability in the Group's main locations, namely Brazil, Colombia, Mexico and Argentina. Revenue in the United States and Canada reached $4.7 million (18% of VERIMATRIX's total revenue in the first half of 2025), a slight increase of 8%. Results for H1 2025 (in US$ million) H1 2025 H1 2024 Chg. Revenue 26.5 30.8 -13.9% Gross profit 17.7 21.5 -17.7% As a % of revenue 66.6% 69.7% Research & development expenses (8.6) (9.6) -10.9% Sales and marketing expenses (4.8) (7.1) -32.7% General & administrative expenses (4.8) (5.9) 19.4% Other gains / (losses), net 0.1 (0.1) -245.3% Total adjusted operating expenses (18.0) (22.7) -20.7% As a % of revenue -67.8% -73.6% Adjusted EBITDA 2.5 1.7 +49.2% As a % of revenue 9.5% 5.5% Adjusted operating income (0.3) (1.2) -73.9% As a % of revenue -1.2% -3.9% Financial income / (loss) (2.3) (1.5) 51.1% Income tax expenses (0.7) (0.5) +32.2% Adjusted net income / (loss) (3.3) (3.3) +2.3% Expand In the first half of 2025, VERIMATRIX generated a gross profit of $17.7 million, i.e. 66.6% of revenue compared to 69.7% in the same period the previous year. Despite an improvement in its production and support costs over the period, the fall in non-recurring revenue was too strong for it to maintain the same level of profitability as seen in the first half of 2024. Research and development expenses continued to be closely managed and were adjusted according to the Group's activity levels and customers' expressed needs. They fell by more than 10% to $8.6 million. Sales and marketing expenses were also down sharply, by $2.3 million compared to the first half of 2024. This is in line with the Group's wish to refocus on commercial operations that generate a strong return on investment and generate direct commercial leads, with more targeted attendance at events and trade shows specializing in the field of cybersecurity. Total operating expenses came to $18 million, down $4.7 million from the first half of 2024 and by $1.3 million from the second half of 2024. Adjusted EBITDA improved substantially to $2.5 million in the first half of 2025, compared to $1.7 million in the first half of 2024 and $2.8 million in full-year 2024. Financial expenses and the tax expense increased by 51% and 32% respectively compared to the first half of 2024. This resulted in an adjusted net loss of $3.3m, compared with $3.3m in the first half of 2024. In accordance with IFRS, and as part of the fair valuation of its assets, Group also recognised an asset impairment charge of $60m at 30 June. The Group's consolidated net result therefore shows a loss of $65m. Reconciliation of adjusted operating income to IFRS operating income and net income (in millions of dollars) H1 2025 H1 2024 Adjusted operating income (0.3) (1.2) Amortization and impairment of assets recognised on acquisitions of businesses and/or businesses (items with no cash impact) (0.3) Acquisition-related costs (0.0) - Non-recurring costs related to restructuring (1.2) (0.5) Share-based payments (0.5) (0.3) Impairment loss / goodwill impairment (60.0) Operating income (expense) (62.0) (2.3) Net financial income / (expense) (2.3) (1.5) Income tax expenses (0.7) (0.5) Net income (expense) from continuing operations (65.0) (4.4) Expand Financial position and cash flow (In millions of US$) H1 2025 H1 2024 Income / (loss) for the period (65.0) (4.4) Non cash income statement items from continuing activities 6.1 5.5 Impairment loss / goodwill impairment 60.0 - Changes in working capital from continuing operations (2.7) (6.9) Cash generated by operating activities (1.6) (5.9) Taxes paid (0.6) (0.5) Interests paid (1.4) (1.8) Net cash generated by / (used in) operating activities (3.6) (8.2) Purchases of property and equipment (0,3) (0.0) Purchases of intangible assets (0,8) (1.0) Cash flows from investing activities (1.1) (1.0) Loan repayments - - Reimbursement of lease commitments under IFRS16 (0.7) (0.9) Cash flows from financing activities (0.7) (0.9) Effect of exchange rate fluctuation (0.2) 0.2 Net increase in cash and cash equivalents (5.7) (10.0) Cash and cash equivalents at beginning of the period 11.0 22.6 Cash and cash equivalents at end of the period 5.3 12.6 Expand The first half of 2025 was marked by a deterioration in cash and cash equivalents to $5.3 million (compared to $12.6 million at end-June 2024 and $11 million at end-December 2024), attributable to the deferral of customer inflows, mainly in Latin America. The short-term position of the debt is currently under discussion with the Apera Group, aiming at optimising the conditions of downpayment of the debt. The debt with Apera Group has been reclassified as a short term. Outlook for 2025 VERIMATRIX's security solutions help companies to comply with and meet the strictest regulatory standards such as those in the media and entertainment, sports content, telecommunications, finance and healthcare sectors. In 2025, VERIMATRIX intends to continue winning new market share and to accelerate the dissemination of its solutions across all these business segments. Despite the economic downturn, ARR from subscriptions is again expected to show double-digit growth over the full year. This commercial performance will also be accompanied by a further improvement in profitability, albeit below initial forecasts. The ratio of EBITDA to annual sales should therefore be slightly higher than the level achieved in 2024 (4.9%), contrary to the initial target of 10% communicated by the Group at the start of the year. Next event: Publication of Q3 revenue: October 22, 2025 (after market close) About VERIMATRIX VERIMATRIX (Euronext Paris: VMX) is contributing to making the connected world safer through its user-friendly security solutions. The Group protects content, applications and smart objects by providing intuitive, unconstrained and fully user-oriented security. The leading players in the market trust VERIMATRIX to protect their content, including premium films, sports streaming, sensitive financial and medical data, and the mobile applications essential to their business. VERIMATRIX ensures a relationship of trust that its customers count on to deliver quality content and service to millions of consumers worldwide. VERIMATRIX supports its partners, bringing them faster access to the market and helping them to develop their business, safeguard their revenue and win new customers. Find out more at Supplementary non-IFRS financial information Verimatrix uses performance indicators that are not strictly accounting measures in accordance with IFRS. They are defined in Appendix 1 of this press release. They should be considered as additional information, which cannot replace any other strictly accounting-based operating or financial performance measure, as presented in the consolidated financial statements, including the income statement set out in Appendix 1 hereof. Forward-looking statements This press release contains certain forward-looking statements concerning Verimatrix. Although Verimatrix believes its expectations to be based on reasonable assumptions, they do not constitute guarantees of future performance. Accordingly, the Company's actual results may differ materially from those anticipated in these forward-looking statements owing to a number of risks and uncertainties. Appendix 1 — Additional non-IFRS financial information — Reconciliation of IFRS results with the adjusted results The performance indicators presented in this press release that are not strictly accounting metrics are defined below. These indicators are not aggregates defined under IFRS and do not constitute accounting metrics used to measure the Company's financial performance. They must be considered supplemental information which is not a substitute for any operational and financial metric of a strictly accounting nature, as presented in the Company's consolidated financial statements and accompanying notes. The Company uses these indicators because it believes they are relevant measures of its current operating profitability and operating cash flow generation. Although generally used by companies in the same sector around the world, these indicators may not be strictly comparable to those of other companies as they may be defined or calculated differently even though similarly labeled. Adjusted gross profit is defined as gross profit before (i) the amortization of intangible assets related to business combinations, (ii) any potential goodwill impairment, (iii) share-based payment expenses and (iv) non-recurring costs associated with restructuring and acquisitions and disposals carried out by the Company. Adjusted operating profit is defined as operating profit before (i) the amortization of intangible assets related to business combinations, (ii) any potential goodwill impairment, (iii) share-based payment expenses and (iv) non-recurring costs associated with restructuring and acquisitions and disposals carried out by the Company. EBITDA is defined as adjusted operating profit before depreciation, amortization and impairment expenses not related to business combinations. Annual recurring revenue (ARR) corresponds to the annualized value of all recurring revenue from contracts in place at the time of measurement. ARR includes all types of contracts that generate recurring revenue and for which revenue is currently recognized. ARR is a rolling number that accumulates over time whereas the total contract value (TCV) metric also used by the Company is typically used to measure (new or incremental) orders made within a period. The Company computes an ARR for SaaS and non-SaaS subscriptions and ARR combining subscriptions and maintenance. Reconciliation of net debt (in millions of US$) June 30, 2025 December 31, 2024 June 30, 2024 Cash and cash equivalents 5.3 11.0 12.6 Private loan note due in 2026 (17.8) (18.2) (24.6) Other borrowings (8.7) (7.7) (7.9) Net cash/(debt) (21.2) (14.9) (19.8) Lease liabilities (IFRS16) (5.7) (6.4) (7.2) Net cash/(debt) including IFRS16 (26.8) (21.3) (27.0) Expand Appendix 2 — Consolidated financial statements (IFRS) Consolidated income statement (in millions of US$) Six month period ended June 30, 2025 2024 Revenue 26.5 30.8 Cost of sales (8.9) (9.5) Gross profit 17.7 21.3 Research and development expenses (8.6) (9.8) Sales and marketing expenses (4.8) (7.0) General and administrative expenses (5.2) (6.2) Other net operating income/(expenses) (1.1) (0.6) Impairment loss / goodwill impairment (60.0) - Operating income/(expense) (62.0) (2.3) Cost of net financial debt (1.5) (2.0) Other net financial income/(expenses) (0.8) 0.5 Profit/(loss) before income tax (64.3) (3.9) Income tax expense (0.7) (0.5) Consolidated net profit/(loss) (65.0) (4.4) Expand Consolidated balance sheet Assets (in millions of US$) June 30, 2025 December 31, 2024 Goodwill 55.2 115.2 Intangible fixed assets 9.1 10.5 Property, plant and equipment 3.9 4.2 Other assets 0.8 1.1 Total non-current assets 69.1 131.0 Inventories 0.4 0.4 Accounts receivable 26.8 26.8 Other current assets 3.3 2.7 Derivative financial assets 0.2 - Cash and cash equivalents 5.3 11.0 Total current assets 35.9 40.9 Total assets 105.0 171.9 Expand Liabilities and shareholders' equity (in millions of US$) June 30, 2025 December 31, 2024 Capital 42.3 41.5 Issue premiums 94.0 94.7 Reserves and retained earnings (24.0) (14.4) Profit/(loss) for the period (65.0) (10.3) Equity - Group share 47.3 111.5 Non-controlling interests - - Total shareholders' equity 47.3 111.5 Financial liabilities 12.5 29.9 Provisions for liabilities 0.8 1.0 Deferred tax liabilities 1.1 1.0 Total non-current liabilities 14.4 31.8 Financial liabilities 19.6 2.4 Trade payables 3.7 4.2 Other liabilities 7.8 8.0 Derivative instruments 0.0 0.3 Provisions 0.2 0.2 Deferred income 12.0 13.5 Total current liabilities 43.3 28.6 Total liabilities 57.7 60.4 Total liabilities and shareholders' equity 105.0 171.9 Expand Cash flow (in millions of US$) June 30, 2025 June 30, 2024 Net income/(loss) (65.0) (4.4) Elimination of items with no impact on cash 6.1 5.5 Impairment loss / goodwill impairment 60.0 - Change in working capital requirement (2.7) (6.9) Cash from operating activities (1.6) (5.9) Taxes paid (0.6) (0.5) Interest paid (1.4) (1.8) Net cash from operating activities (3.6) (8.2) Acquisitions of property, plant and equipment (0.3) (0.0) Acquisitions of intangible assets (0.8) (1.0) Net cash flow from investment activities (1.1) (1.0) Repayment of loans - - Repayment of lease liabilities under IFRS16 (0.7) (0.9) Net cash flow from financing activities (0.7) (0.9) Impact of exchange rate on cash (0.2) 0.2 Change in net cash position (5.7) (10.0) Cash and cash equivalents at start of period 11.0 22.6 Cash and cash equivalents at end of period 5.3 12.6 Expand
Business Wire
18-06-2025
- Business
- Business Wire
LambdaTest Wins 2025 Digital Innovator Award from Intellyx
SAN FRANCISCO--(BUSINESS WIRE)-- LambdaTest, a unified agentic AI and cloud engineering platform, has been recognized with the prestigious 2025 Intellyx Digital Innovator Award, honoring its impact on enterprise digital transformation and continued leadership in modern testing solutions. LambdaTest Wins 2025 Digital Innovator Award from Intellyx Share Now in its 11th year, Intellyx is the only analyst firm dedicated to digital transformation. The Intellyx Digital Innovator Awards spotlight select vendors who are redefining the enterprise IT landscape. 'We're honoured to receive the Intellyx Digital Innovator Award,' said Asad Khan, Co-Founder and CEO of LambdaTest. 'This recognition highlights our commitment to helping development teams ship quality code faster through intelligent automation, AI-driven testing insights, and seamless orchestration across the software development lifecycle.' LambdaTest is an AI-native, omnichannel software quality platform that empowers businesses to accelerate time to market through intelligent, cloud-based test authoring, orchestration, and execution. With over 15,000 customers and 2.3 million+ users across 130+ countries, LambdaTest is the trusted choice for modern software testing. For more information about the award and the full list of winners, visit the 2025 Intellyx Digital Innovator Awards page. About LambdaTest LambdaTest is an AI-native, omnichannel software quality platform that empowers businesses to accelerate time to market through intelligent, cloud-based test authoring, orchestration, and execution. With over 15,000 customers and 2.3 million+ users across 130+ countries, LambdaTest is the trusted choice for modern software testing. Browser & App Testing Cloud: Enables manual and automated testing of web and mobile apps across 10,000+ browsers, real devices, and OS environments, ensuring cross-platform consistency. HyperExecute: An AI-native test execution and orchestration cloud that runs tests up to 70% faster than traditional grids, offering smart test distribution, automatic retries, real-time logs, and seamless CI/CD integration. KaneAI: The world's first GenAI-native testing agent, leveraging LLMs for effortless test creation, intelligent automation, and self-evolving test execution. It integrates directly with Jira, Slack, GitHub, and other DevOps tools.
Yahoo
12-06-2025
- Business
- Yahoo
Splashtop Wins 2025 Digital Innovator Award from Intellyx
Vision and execution for Autonomous Endpoint Management solution recognized as a standout in the digital transformation landscape. Splashtop Wins 2025 Digital Innovator Award from Intellyx CUPERTINO, Calif., June 12, 2025 (GLOBE NEWSWIRE) -- Splashtop today announced it has won the 2025 Intellyx Digital Innovator Award. Intellyx is an industry analyst firm dedicated to enterprise digital transformation, and the award spotlights trailblazing vendors worth watching that are driving innovation in digital transformation technology. Splashtop was recognized for its strategic vision and move into the emerging Autonomous Endpoint Management (AEM) market, which Intellyx was one of the first to cover earlier this year. Since, Splashtop has already announced feature expansions that enable IT to standardize configuration policies and automatically apply them to new devices, reducing the risk of misconfiguration and strengthening security when a device comes online. 'At Intellyx, we get dozens of PR pitches each day from a wide range of vendors,' said Jason Bloomberg, Managing Director of Intellyx. 'We only set up briefings with one in a hundred of the most disruptive and innovative firms in their space. Splashtop stood out for its vision for small and midsized businesses, including its complementary approach to Microsoft Intune, providing the real-time patching capabilities and visibility into device health and inventories. These features are needed and valued by Intune users.' Splashtop AEM enables internal IT teams to proactively manage and secure their environments through real-time patching, intelligent automation, and cross-platform visibility. The solution empowers small and midsized businesses and managed service providers (MSPs) to close critical security gaps, respond instantly to threats, and provide more efficient, proactive management. Without the cost or complexity of traditional RMM and UEM tools, Splashtop extends the value of current IT investments while helping organizations scale with confidence. 'We're honored to be recognized by Intellyx for innovation in autonomous endpoint management,' said Mark Lee, CEO and Co-founder of Splashtop. 'Splashtop is committed to simplifying security and improving efficiencies for IT teams by automating routine processes, consolidating redundant toolsets, and complementing core management systems with feature sets that improve the mean time to detect, remediate, and contain threats.' Splashtop's remote support with endpoint management solutions are available now at To learn more, review Splashtop's comprehensive guide to AEM. About Splashtop Splashtop is the top-rated global provider of remote work, support, and management solutions that simplify security and performance in the work-from-anywhere world. With customer success as the #1 priority, Splashtop's technology is easy to deploy, use, and manage for small and midsize businesses and enterprises, offering advanced security features, high-throughput, broad device support, and 24/5 customer support. The approachable solution selected by more than 30 million users, Splashtop is a partner enabling users to grow and scale on their own terms with highly flexible plans. Splashtop is a member of the Microsoft Intelligent Security Association (MISA), aligning with Microsoft in their efforts to help customers address the evolving challenges of today's IT landscape. Visit and follow us on LinkedIn to learn more. Attachment Splashtop Wins 2025 Digital Innovator Award from Intellyx CONTACT: Trevor Jackins Splashtop Inc. 4088611088 pr@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
