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
VERIMATRIX: Verimatrix: Resilient 2020 Annual Performance in a Challenging Context
$95 million revenue in 2020
Consolidated revenue (IFRS) down only 3% year-over-year
58%: contribution of recurring revenue to total revenues (+ 3 points vs. 2019)
24%: growth of subscription-based business to $5 million in revenue
Annual Reccurring Revenue
Demonstrated resilience to Covid-19 pandemic with core software business down only 8% year-over-year
2
Operating margins at a record high
Core business EBITDA up 16% year-over-year
1
Continuous investment in innovation, marketing and sales alongisde tight control of expenses
Solid financial position with $48.6 million in cash and cash equivalents and no short-term debt
2021 objectives
Mid-single digit core business revenue growth including a double digit growth of recurring revenues and flat EBITDA to support transition towards SaaS business model