DJ BROADPEAK publishes third-quarter 2024 revenue.
BROADPEAK SA BROADPEAK publishes third-quarter 2024 revenue. 06-Nov-2024 / 18:12 CET/CEST Dissemination of a French Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- Broadpeak publishes third-quarter 2024 revenue - Revenue of EUR8.7m over the period, up 10.0% - At the end of September, Group revenue totalled EUR25.8m (-0.4%) - Growth of 8.3% in the biggest contributors to revenue over 9 months (Licenses & Services, Maintenance & SaaS) - Good visibility for year-end thanks to orders already confirmed - Annual targets and ambitions for 2027 confirmed Cesson-Sévigné (France), 6 November 2024 Broadpeak (ISIN: FR001400AJZ7 - Ticker: ALBPK), a leading provider of video streaming software solutions, is reporting its third-quarter and 9-month 2024 revenue. Revenue (in EURK) 9M 2023 9M 2024 Change Q3 2023 Q3 2024 Change EMEA 11,055 12,074 +9.2% 3,678 4,428 +20.4% Americas 11,222 10,892 -2.9% 3,739 2,595 -30.6% APAC 3,673 2,881 -21.6% 473 1,658 +250.7% TOTAL 25,950 25,847 -0.4% 7,890 8,680 +10.0% Licenses & Services 12,571 12,327 -1.9% 2,965 4,319 +45.6% Maintenance & SaaS 9,226 11,270 +22.2% 3,194 3,854 +20.7% Equipment 4,154 2,250 -45.8% 1,729 507 -70.7%
At 30 September 2024, Group revenue totalled EUR25.8m, virtually unchanged year-on-year (-0.4%). Excluding a positive currency effect[1] of +EUR0.1m, Broadpeak's revenue at constant exchange rates was down 0.7%.
After a decline in the first half of the year (-5.0%), due in particular to an unfavourable base effect, revenue rebounded sharply in the third quarter (+10.0%), in line with the guidance provided by the Group.
Over the first nine months of the year, momentum was solid in EMEA (+9.2% to EUR12.1m), driven by several new contracts, while revenue growth slowed in the Americas (-2.9% to EUR10.9m). In Asia-Pacific, the contraction in revenue (-21.6% to EUR2.9m) was due to an unfavourable base effect in the first half, as sales rebounded strongly in the third quarter (+250.7%).
The trend in the business mix was very positive over the first nine months of 2024, with a further decline in equipment sales (-45.8%), which contribute little to gross margin. Licensing & Services and Maintenance & SaaS revenue, which now account for more than 90% of total business, increased by 8.3% over the period (with +32.7% in the third quarter). Recurring revenue (Maintenance & SaaS) accounted for 43.6% of revenue at end-September, at EUR11.3m.
Financial targets for 2024 and beyond confirmed
At the end of this satisfactory third quarter, Broadpeak has good visibility for the end of the year in view of the further growth expected on its main offers. In particular, sales momentum is strong for the Dynamic Ad Insertion application, the Saas version of which was recently chosen by Comercio TV, the first US Spanish-language financial news network.
In this context, the Group confirms that it expects a return to growth in revenue and positive free cash flow for FY 2024.
The Group is also confirming its medium-term financial targets with revenue expected to top EUR50m by 2027, including 50% recurring revenue (SaaS and Maintenance), and an EBITDA margin of around 15%.
Upcoming event:
-- 2024 Annual Revenue: February 10, 2025, after market close
CONTACTS
BROADPEAK FINANCIAL COMMUNICATION FINANCIAL / CORPORATE PRESS Investors@broadpeak.tv marianne.py@seitosei-actifin.com michael.scholze@seitosei-actifin.com + 33(0)2 22 74 03 50 + 33(0)1 56 88 11 25 + 33(0)1 56 88 11 14
Broadpeak, S.A., 3771 boulevard des Alliés,
35 510 Cesson-Sévigné, France
VAT Number FR49 524 473 063 - SIREN 524 473 063
Tel: +33 (0)2 22 74 03 50
www.broadpeak.tv
Disclaimer
This press release contains statements that are not historical facts, including, but not limited to, statements regarding future results and other future events. These statements are based on the current vision and assumptions of Broadpeak's management. They involve known and unknown risks and uncertainties that could cause actual results, profitability or events to differ materially from those anticipated. In addition, Broadpeak, its shareholders and its respective affiliates, directors, officers, boards and employees have not verified the accuracy of, and make no representations or warranties regarding, any statistical information or forward-looking information contained in this release that originates or is derived from third-party sources or industry publications. Such statistical data and forward-looking information are used in this press release for information purposes only.
About Broadpeak
Since its creation, Broadpeak has grown with a sole purpose in mind: to roll out software solutions worldwide streaming content that people love with a compelling quality of experience. These solutions target the world's leading players, including large TV and telecom operators and global broadcasting platforms (OTTs), as well as new media in the corporate, sports and entertainment segments. At the end of 2023, Broadpeak had 150 customers across 50 countries, representing 200 million spectators worldwide These include leading players such as Bouygues Telecom, Orange, Telecom Italia, Deutsche Telekom, BT Group, HBO, Mola TV, StarHub TV+ and Megacable. Broadpeak has more than 300 employees in 23 countries. The company is mainly based in France (head office in Cesson Sévigné near Rennes) but is also present in the United States (Denver), Canada (Ottawa), Brazil (Sao Paulo), Singapore and Dubai. Broadpeak generates approximately 90% of its revenue internationally.
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[1] At the average exchange rate recorded on sales in fiscal 2023.
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Regulatory filing PDF file File: CP BPK CAT3 VUKfinale
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Language: English
Company: BROADPEAK SA
15 rue Claude Chappe
35510 CESSON SEVIGNE
France
Phone: 02 22 74 03 50
Internet: https://broadpeak.tv/
ISIN: FR001400AJZ7
Euronext ALBPK
Ticker:
AMF Category: Additional regulated information to be pubicly disclosed under the legislation of a Member State / Third
quarter financial report
EQS News ID: 2024217
End of Announcement EQS News Service
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2024217 06-Nov-2024 CET/CEST
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(END) Dow Jones Newswires
November 06, 2024 12:13 ET (17:13 GMT)
