WALLIX announces continued growth in recurring revenue for the first quarter of 2024

WALLIX, a European player in the publishing of cybersecurity software specializing in identity and access management (IAM) and privileged account governance (PAM), reports a significant increase in its monthly recurring revenue (MRR) of +33 .6% as of March 31, 2024, compared to the same period the previous year. This growth marks the continuation of a hypercrescent trend observed in the information technology sector.

The company also confirmed a quarterly turnover of 7.0 million euros, an increase of 13.7% compared to the first quarter of 2023. Annual recurring revenue reached 20.6 million euros at the end of March 2024, representing 68.3% of 2023 turnover, highlighting the good management of WALLIX in the transition to a subscription model. Jean-Noël de Galzain, CEO of WALLIX, says he is confident in the company's ability to maintain strong growth in recurring revenues and is targeting positive operating income from the second half of 2024.

Faced with an increase in cyberattacks and an increased awareness of cyber risks by European companies and institutions, WALLIX is advantageously positioned with recognized solutions, meeting strict security and compliance standards, in particular with the NIS 2 Directive and the new DORA regulation.