French publisher Wallix Group reduced operating losses by around € 2.5m in the first half of 2021, while maintaining revenue growth of over 20%. The management of the company aims for a return to profitability in the second half of the year.
The time has come for a return on investment for Wallix. During the first half of 2021, the French publisher of cybersecurity solutions generated € 10.3 million in revenue, thus benefiting from 28% growth compared to the same period last year. The operating result has certainly remained in the red (-2.66 M €), but nevertheless recovered significantly compared to the loss (-5.12 M €) suffered 12 months previously. These latter values and their variation are almost identical to those recorded at the level of net income. As a reminder, although its revenues increased by 23% in 2020, Wallix suffered at the time a decline in its operating income of 6.9%. The company did not hesitate to increase its operating expenses by nearly € 6 million, in particular to hire and open new subsidiaries.
“After a phase of significant investments to consolidate its technological leadership in the field of access protection and digital identities and to extend its sales network, the WALLIX Group is today reaping the fruits of this strategy of conquest, with a clear improvement of its operating income in the first half of the year and the prospect of achieving profitability in the second half of 2021, ”said Jean-Noël de Galzain, Chairman of the Board of Wallix Group.
International business increases to 40% of turnover
The efforts made to develop its international activity enabled the publisher to generate € 4.2 million (+ 51%) in turnover outside France in the first half of 2021. More limited, growth in the Hexagone stood at + 16% for € 6.2 million in billings. All geographic areas combined, license sales increased by 22% while contracts signed in subscription mode (SaaS + managed services) doubled to € 850,000. Including income from maintenance, the recurring share of turnover stood at 50% between January and June, compared to 48% a year earlier. Wallix Group claimed 1,600 customers as of June 31.
