Brief: Verimatrix Eyes Reaching $100 Million Revenue Threshold By 2025

Verimatrix SA

09/03/2022 17:13

March 9 (Reuters) - Verimatrix SA  VMX.PA :
    * VERIMATRIX UNVEILS ITS STRATEGIC PLAN FOR 2025
    * ACCELERATE TRANSITION TO SUBSCRIPTION-BASED REVENUE MODEL
    * INTENDS TO CONSOLIDATE ITS POSITION AS A TRUSTED LEADER
FOR
SECURING CONTENT & DEVICES OF CONNECTED FUTURE
    * IN TERMS OF PROFITABILITY, VERIMATRIX WILL ACHIEVE A
MINIMUM OF
20% EBITDA BY END OF 2025
    * PLAN FOR 2025: DRIVE PROFITABLE GROWTH TO REACH C. $100M
REVENUE(2), OVER 70% OF WHICH RECURRING, AND OVER 20% EBITDA
    * OUTLOOK 2022: VERIMATRIX WILL CONTINUE TO ACCELERATE ITS
CHANGES
OF BUSINESS MODEL
    * CASH POSITION OF $45.3 MILLION AS AT DEC 31, 2021, AND NET
DEBT
LIMITED TO $0.7 MILLION
    * OUTLOOK 2022: VERIMATRIX ANTICIPATES A DOUBLE-DIGIT GROWTH
IN
TOTAL RECURRING REVENUE SUPPORTED BY AN AVERAGE ANNUAL GROWTH OF
ARR ABOVE 30% REPLACING PROGRESSIVELY PERPETUAL LICENSE SALES
    * ANTICIPATES A DOUBLE-DIGIT GROWTH IN TOTAL RECURRING
REVENUE
SUPPORTED BY AN AVERAGE ANNUAL GROWTH OF ARR ABOVE 30% REPLACING
PROGRESSIVELY PERPETUAL LICENSE SALES
    * RETURN TO GROWTH IS EXPECTED IN 2023, TO REACH $100
MILLION
REVENUE THRESHOLD BY 2025
    * JEAN-FRANÇOIS LABADIE APPOINTED AS CHIEF FINANCIAL OFFICER

Source text for Eikon:  ID:nBw1tC3kMa 
Further company coverage:  VMX.PA 

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