ESPOO, Finland - Friday, 26. April 2024
(BUSINESS
WIRE)--Tecnotree, a global digital platform and services leader for AI,
5G, and cloud-native technologies, today announced its financial
results for the first quarter of 2024, demonstrating solid growth with a
4.7% increase in revenue. The company maintained its momentum in
driving global sales of its digital platform, in the first quarter of
2024, completing many AIML and digital transformations to key customers,
resulting in a significant increase in revenue. The growth was
primarily driven by new wins in the LATAM region, while EMEA and APAC
regions remain growing markets for the digital platform.
Key Q1 Highlights of the financial results:
Net sales increased 4.7% to EUR 16.3 (15.5) million.
Operating results increased by 22.3% to EUR 4.4 (3.6) million.
Earnings per share EUR 0.01 (0.01).
Order book at the end of the period increased by 10.3% to EUR 74.8 (67.8) million.
Tecnotree
achieved several notable milestones in the first quarter. The company
solidified its position as a trusted partner for telecom providers in
AIML-powered BSS solutions by winning an AIML-enabled Digital
Transformation partnership in Jordan, expanding its offerings in the
Middle East. Additionally, Tecnotree secured Nuh-Digital in Brazil,
increasing the number of MVNO wins in a new market. Tecnotree Moments
platform was selected by Global Hitss to elevate e-health services
across Mexico and Latin America, promising streamlined operations across
the healthcare value chain. This initiative was also recognized by the
TMForum 2024 Excellence Awards, where Tecnotree became the finalist,
particularly for its collaboration with Globalhitss in bringing B2B2X
healthcare to Mexico using the ODA framework and accelerating network
monetization.
Padma Ravichander, CEO of Tecnotree Corporation,
said, “With the revenue growth to EUR 16.3 million, the first quarter
proved to be a great start to 2024. Tecnotree’s order book grew to EUR
74.8 million and the growth was supported by LATAM, Middle East, Africa,
and APAC. Looking ahead, Tecnotree remains committed to extending its
digital products and services to telecom operators worldwide and helping
their digital transformation journeys. We aim to expand within existing
markets while exploring new opportunities in the US, Europe, Oceania,
Asia Pacific, and adjacent regions.
"With the partnerships for
Tecnotree Moments that we are forging in LATAM with Global Hitss for
E-health, we strengthen our eco-system play and plan to drive tangible
business for all stakeholders.”
About Tecnotree
Tecnotree
has been Empowering Digitally Connected Communities to over 90+ Telecom
Providers around the world, since 1978. Our leading AIML-embedded,
5G-ready digital Business Support System (BSS), with multi-cloud
extensibility, has challenged traditional transformation approaches and
gained acceptance across a range of emerging and established markets,
currently supporting over 1 billion subscribers. Change and
transformation are at the very essence of our DNA driving continuous
innovation, delivering world-class experiences and monetisation
capabilities to telecom operators and their customers through Tecnotree
Moments, enabling essential services beyond voice and data connectivity
to other digital experiences in the area of health, education, financial
inclusion and beyond. Tecnotree is listed on the Helsinki Nasdaq
(TEM1V).
View source version on businesswire.com: https://www.businesswire.com/news/home/20240426748962/en/
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Contacts
Prianca Ravichander, Tecnotree CMO
Email: marketing@tecnotree.com
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