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NFON AG Reports Strong Q1 2024 Performance Amid Reorganisation
NFON AG, a European leader in integrated cloud business communications, announced robust financial results for Q1 2024, reflecting continued success in its reorganisation efforts. Recurring revenue increased by 2.8% to EUR 19.9 million, making up 93.6% of total revenue. Total revenue rose by 2.2% to EUR 21.2 million.
The firm's adjusted EBITDA improved significantly, reaching EUR 2.8 million, resulting in an adjusted EBITDA margin of 13.2%. The number of installed customer seats also saw a 2.0% year-on-year increase, totaling 658,544 seats.
The extensive transformation measures initiated in 2023 have led to more efficient processes and a comprehensive restructuring of the organization. A new Chief Technology Officer, Andreas Wesselmann, was appointed to bolster technological innovation.
The strategic focus on innovative product development, sales excellence, and stronger partnerships is expected to drive further growth. CEO Patrik Heider highlighted that these measures are positioning NFON for sustainable and profitable development.
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