Axway Software: Preliminary Annual Results
Paris, January 25, 2024 – Axway today announces preliminary annual results ahead of expectations for the fiscal year ended December 31, 2023. Current estimates, which are still being audited, indicate that the company is exceeding its organic growth and profitability guidance for the year. As anticipated, the comparison basis of bookings and revenue for Q4 2022 was not matched in Q4 2023.
A stronger-than-expected mix of customer managed contracts at year-end resulted in higher revenue recognition. Although this accounting effect was favorable in 2023, Axway’s medium-term performance projections remain unchanged. Consequently, Axway now expects for 2023:
- Organic revenue growth above 5%, compared with 0 to 3% previously;
- Operating profit from business activity representing above 19% of revenue, compared with 15 to 18% previously.