WALLIX Reports Growth in Recurring Revenue Amidst French Market Challenges

WALLIX, a European cybersecurity company, announced a 23.7% increase in monthly recurring revenue (MRR) as of September 30, 2024. The firm's recurring business now constitutes 73.5% of its consolidated turnover, a 12.5 percentage point rise compared to the previous year. This surge aligns with WALLIX's strategic shift towards a subscription-based model, expanding its client base and enhancing revenue predictability.

The company reported a 13.4% rise in Q3 turnover to €7.8 million and €22.9 million for the first nine months of 2024, largely driven by an 80% increase in subscription revenues. Despite a challenging political climate in France, its French business saw a 21% increase, while the EMEA region excluding France experienced a 31.3% rise, notably in the Middle East's energy sector.

WALLIX remains optimistic about achieving operating profit in the latter half of 2024 and throughout 2025, supported by regulatory changes such as the NIS2 Directive and Dora regulation in Europe.