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RTÉ News
30-07-2025
- Business
- RTÉ News
Datalex announces intention to delist from Euronext Growth index
Airline e-commerce platform Datalex said today it plans to seek shareholder approval for a transition to private ownership by delisting its shares from the Euronext Growth index. Datalex said that after conducting a review of the benefits and drawbacks to its listing on Euronext Growth, its board decided that a move to private ownership is in the best interests of the company and its shareholders. In reaching its conclusion Datalex said its long-term vision and requirements of the business differ from those in 2000 when the company first listed. Datalex also issued a trading update today for the six months to the end of June, which showed further revenue growth on its Stellex platform, a "step change" in gross profit and a return to positive foreign exchange adjusted EBITDA. Revenues for the six month period rose by 9% to $14.5m from $13.2m the same time last year, with revenues from its Stellex platform soaring by 188% to $4m from $1.4m. Datalex said its gross profit jumped by 68% to $6.4m from $3.8m, while its loss after tax narrowed to $2.3m from $3.7m the same time last year. The company said that trading for the full year remains in line with expectations, and it is confident in achieving its FY2025 targets. "With strong progress in H1 2025 and continued execution of our growth strategy, Datalex is well-positioned to deliver sustainable revenue growth and return to full-year EBITDA profitability," it added. Datalex also said today that it intends to raise $6m in additional capital, via a debt raise, to facilitate its next growth phase and to best position Datalex to maximise its long-term strategic objectives. Jonathan Rockett, Datalex's CEO, said the compay achieved a "strong" financial performance in the first half of 2025, with trading for the full year continuing in line with expectations. "We have delivered several important milestones in the first half of 2025, most significantly the continued expansion of Stellex capabilities into our airline customers and also the launch of our latest product, DLX Pay. We are pleased to have signed Air Transat as the inaugural DLX Pay customer, with a go-live planned for later this year," he said. "In parallel, we are announcing a €6m debt facility to support our medium-term strategic priorities and our investment in product innovation. We expect this capital raise to close in August 2025," he added. He also said that delisting from Euronext Growth will better position the company to focus on strategic execution, accelerate innovation, and unlock greater long-term value for its customers and shareholders. "The move aligns with our aim to be a true catalyst for value-creating change for our airline partners and enhance Datalex's position at the top table of airline technology vendors globally," Mr Rockett said. "Our focus remains clear - create value for our airlines, grow Stellex platform revenues and return to sustained EBITDA profitability. I am pleased to report that while we have a lot to do to achieve our ambitions, we are on track and our efforts are now starting to translate to materially improved financial performance," he added.
RTÉ News
15-05-2025
- Business
- RTÉ News
Datalex posts lower revenues and wider losses for 2024
Airline e-commerce platform Datalex has reported lower revenues and wider losses for the year to the end of December but said it had achieved several positive developments during the year, including the migration of four airlines to its new "Stellex" platform. Datalex said its annual revenue dipped by 5% to $27.5m from $28.9m the previous year while its loss after tax widened by 13% to $10.2m from $9m. It said the fall in revenues was mainly due to a number of customer contracts ending in 2023, creating a drag on year-on-year growth as this revenue did not recur in 2024. Today's results shows that Datalex's "Platform"revenue increased by 24% to $16.1m from $12.9m, driven by ongoing customer activations and the transition of customers to a SaaS licence and transaction fee model. But its "Services" revenue decreased by 27% to $10.2m from $14.1m, after the cessation of contracts with Scandinavian Airlines and Virgin Australia in 2023. The company said its total operating expenses increased by 5% to $13.3m on the back of higher insurance and IT expenses because of inflationary pressures. Looking ahead, Datalex said it had entered 2025 with a solid recurring revenue base and strengthened balance sheet having repaid its loan facility. "Our financial ambition and priorities will be focused on growing total revenue year on year, continuing to deliver strong platform revenue growth, expanding gross profit margins, and restoring the business to EBITDA profitability," it added. Jonathan Rockett, Datalex's CEO, said the company achieved several positive developments in 2024, including the launch of its Offer and Order solution, Stellex, and the successful activation and migration of four airlines to this new platform. He also said the company raised €25m in equity to strengthen it balance sheet. "Whilst it was disappointing to see revenue decline, after excluding non-recurring revenue, the underlying performance and momentum in platform revenue is promising. The financial performance in 2024 does not reflect the progress made, and I am confident that the actions we have taken will deliver stronger financial performance in 2025," he said. "2025 has kicked off strongly with the launch of a new modular standalone product, DLX Pay, which is planned to go-live with our launch customer, Air Transat, later this year," the CEO stated. "Our focus for 2025 is to drive strong platform revenue growth, improve margins, and achieve EBITDA profitability," he added.
