Verimatrix Announces Q1 2021 Revenue
Subscription revenue up 23% year-on-year, now representing 7% of total revenue
Annual Recurring Revenue
Strong license revenue (up 41% year-over-year) included a portion of delayed Q4 2020 orders
Company on track to achieve annual objectives
Regulatory News:
Verimatrix (Paris:VMX) (Euronext Paris: VMX), is today reporting its consolidated (IFRS) revenue for the first quarter period ended March 31, 2021.
(in US$ million)
Commenting on the first quarter, Amedeo D'Angelo, Chairman and Chief Executive Officer of Verimatrix,
stated: "In the first quarter of 2021, Verimatrix delivered stable revenue despite headwinds in royalties in the context of Covid-19 and the short-term impact of the transition to our subscription business including for SaaS implementations. During the quarter, we saw good momentum in signing new licenses in general and were able to regain part of the new licenses that had been delayed in the fourth quarter of 2020 in particular. Although the context remains volatile, we see it improving for our customers, giving us the confidence that we are well on track to achieve our annual objectives. At the same time, we continue to expand our Cloud-based offerings, as examplified with the release of the Verimatrix Multi-DRM Core