Wednesday, September 21 2022

ESPOO, Finland–(BUSINESS WIRE)–On Thursday, August 4, 2022, Tecnotree announced its financial results for the second quarter ended June 30, 2022. Tecnotree, the global provider of digital business support systems (BSS), reported revenue of 18 .3 million in the second quarter, continuing its financial strength with considerable growth in the MEA and APAC segments.

Consolidated Q2 and Half-Year 2022 Results Highlights:

  • Net sales of €18.3 million in the second quarter, up 9% compared to last year, and €31.6 million for the first half, up 13% compared to last year. ‘last year

  • Operating result of 5.1 million euros in the second quarter and 7.1 million euros in the first half

  • Earnings per share of EUR 0.01 in the second quarter and EUR 0.02 in H1

  • Order book at the end of the period of 72.8 million euros, up 32.4% compared to last year

Padma Ravichander, CEO of Tecnotree, said, “Our customers have responded to our digital stack offering, with a strong backlog that we need to invest in to deliver quickly. Despite rising costs due to external factors resulting in lower net margins in the first half, we continue to deliver new deployments to Tier 1 customers, which requires a larger initial investment. This investment today will ensure long-term recurring revenue over the next 3-5 years with our new customers by providing stability. Our Digital Stack 5.0 is richer and able to serve multiple markets and customers simultaneously.

Other achievements of the second quarter:

  • Achieve the highest backlog position of €72.8 million – 32% higher than in the first half of 2021, due to a strong increase in demand for Tecnotree products and solutions in the first half of 2022 , with the continued support of major tier 1 telecommunications groups such as MTN, STC, Zain, Ooredoo

  • Tecnotree’s BSS 5 digital suite went live for MTN Uganda’s enterprise and consumer businesses, driving process agility and customer satisfaction

  • Launched a digital transformation suite for MTN Ghana to meet enterprise market demand and deliver enhanced customer experiences

  • Tecnotree awarded as “Change-maker of the year” by the Helsinki Stock Exchange Foundation, for its instrumental role in the growth of emerging markets through its 5G-ready digital products and solutions

  • Launched 5G cloud-native digital procurement platform for Zain South Sudan and another Tier 1 operator in the Middle East. Tecnotree DSPS is a pre-integrated suite that enables a centralized system for all planning and management of procurement-related tasks

  • Tecnotree wins “MongoDB Independent Software Vendor (ISV) Partner of the Year – Telco” award for enabling customers to transition to new technologies and digital ecosystems

  • Launch of DOCS, a 5G convergent digital charging platform that supports existing and future CSP monetization requirements across verticals and industries

About Tecnotree

Tecnotree is a 5G-ready digital business support system (BSS) provider with AI/ML capabilities and multi-cloud extensibility. Tecnotree is one of the first companies in the world to be certified Platinum by the TM Forum Open API standards, and our agile, open-source Digital BSS Stack includes the full range (order-to-cash) of business and subscriptions for telecommunications and other digital service industries creating opportunities beyond connectivity. Tecnotree also provides a multi-experience Fintech and B2B2X digital marketplace to its subscriber base through the Tecnotree Moments platform to empower digitally connected communities in gaming, healthcare, education, OTT and other vertical ecosystems. Tecnotree is listed on Nasdaq Helsinki (TEM1V).

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