Wallix: profitability targets confirmed, share price rises

(CercleFinance.com) - The share price of cybersecurity software publisher Wallix rose sharply on Friday on the Paris Bourse, as the French group confirmed its profitability targets for both the second half of 2024 and the full year 2025.


In a press release, Wallix reported 'record' sales of 34 million euros last year, up 13%, with a notable acceleration in activity in Q4 (+19%).

The company, which claims to have won 600 new contracts in 12 months, says it is beginning to reap the rewards of the transformation of its business model.

"In just two years, our annual recurring revenues have jumped by 65% and now represent more than two-thirds of our sales", the group points out.

Annual recurring revenues (ARR) thus reached 24.5 million euros at the end of 2024.

Against this backdrop, Wallix says it is targeting positive operating income for the second half of 2024, as well as for the full year 2025.

'The year-end landing, despite the harsh macroeconomic and political context, holds no nasty surprises - quite the contrary, with sales growth accelerating in Q4', comment analysts at TP ICAP Midcap.

Beyond the second half of 2024 (targeted positive operating income), fiscal 2025 should continue the trajectory of hyper growth in recurring revenues and confirm the achievement of full-year profitability", emphasize the brokerage firm, which maintains its buy recommendation and price target of 15 euros on the share.

At 2:15pm, the share was up over 4%, bringing its gains since the start of the year to over 11%. The share has posted gains of 43% over the last six months.

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