Espoo, Finland:
Tecnotree, the international chief in Digital Business Support Systems, introduced at present its monetary outcomes for the quarter ended September 30, 2022. With the highest ever order e-book place, a 30% larger progress than Q3 of final 12 months, that is one other nice stride for the firm in direction of attaining its targets. This quarter the firm witnessed new offers, buyer logos, and partnerships, experiencing a surge in demand for its merchandise and options.
Key Q3 Highlights of the monetary outcomes:
- Revenue progress of 9% in the third quarter at 19.9 ME in opposition to 18.2 ME in the identical quarter final 12 months. The progress in web gross sales got here from MEA & APAC phase
- The highest ever order e-book place of EUR 76.1 million, witnessing a 30% progress in comparison with Q3 final 12 months. New orders recorded throughout the third quarter totalled EUR 23.2 million in comparison with EUR 11.8 million final 12 months
- 17% progress in license income for the present 12 months over the identical interval final 12 months
- Cash and money equivalents at the finish of the third quarter had been EUR 19.9 million in comparison with EUR 13.9 million final 12 months. Tecnotree’s monetary place stays sturdy and debt free
Commenting on the outcomes for the third quarter of 2022, Padma Ravichander, CEO of Tecnotree Corporation, mentioned, “Tecnotree is at the cusp of the hyperscaling ecosystem for the telecommunications industry and fortunately Tecnotree is striking the right partnerships to help drive the new digital economy of the future. I am delighted that our performance is reflecting our ongoing momentum and healthy business activity, especially in the MEA & APAC segment. We continue to receive huge orders from the large tier 1 CSPs for our Digital BSS Suite 5, which now requires us to invest in delivering these orders to ensure continuity and growth. Our strong results demonstrate an increase in annual recurring revenue, validating the stability of our platform and our ability to deliver rapidly. Our focus remains to keep delivering quality products and services to our customers while ensuring that we monetize all opportunities offered by the 5G market.”
Other Company Highlights in the Quarter:
- Tecnotree introduced a fast-track international ISV partnership with Microsoft to speed up the digital transition to the cloud with Microsoft Azure
- Was acknowledged by TM Forum as the first digital platform firm in the world to be licensed for real-world open API implementation
- Partnered with MTN Nigeria to launch ‘Metamorphose – powered by Tecnotree’
- Delivered a profitable go-live of the Digital Provisioning Platform for Zain
- Signed a multi-million-dollar take care of MTN Nigeria for 5G digital transformation
- Won a brand new emblem – Tecnotree LATAM area acquired ENTEL Bolivia for its Digital Accelerator Platform (DAP)
Additionally, Tecnotree continues its investments in the new initiatives – Tecnotree Moments, Tecnotree DiWa (Digital Wallet), and SaaS, anticipating good ends in the subsequent few quarters.
About Tecnotree
Tecnotree is a 5G-ready digital Business Support System (BSS) participant, with AI/ML capabilities and multi-cloud extensibility. Tecnotree is the first firm in the world to be Platinum Certified by TM Forum Open API requirements, and our agile and open-source Digital BSS Stack includes the full vary (order-to-cash) of business processes and subscription administration for telecom and different digital providers industries creating alternatives past connectivity. Tecnotree additionally supplies Fintech and B2B2X multi-experience digital market to its subscriber base by the Tecnotree Moments platform to empower digitally related communities throughout gaming, well being, schooling, OTT, and different vertical ecosystems. Tecnotree digital platform services at present serve over 1 billion subscribers globally in over 70 nations. Tecnotree is listed on Helsinki Nasdaq (TEM1V).
For extra data, please go to www.tecnotree.com or social media channels – LinkedIn I Facebook I Twitter
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