Axway Software: Half-Year Performance In Line With Annual Targets

Paris, July 19, 2024 - Axway Software's Board of Directors, chaired by Pierre Pasquier, approved the financial statements for the first half of 2024. The results show revenue of €148.7 million, marking a 1.9% organic growth. Annual Recurring Revenue (ARR) increased by 7.2% to €229.9 million.

Profit on operating activities remained stable at 11.5%. Operating profit was €8.3 million, down from €11.2 million in the first half of 2023. Net profit attributable to the group was €2.8 million, compared to €3.7 million in 2023.

The company reported solid performance in the Americas and Asia-Pacific regions. However, France and Europe saw a downturn due to high comparison bases. Axway Managed offerings comprised over 42% of bookings, a trend expected to persist.

As for its acquisition project, Axway aims to complete the Sopra Banking Software acquisition by Q3 2024. The project will more than double Axway's revenue, strengthening its foothold in the financial services and banking industries.

At the end of June 2024, Axway had 1,471 employees. The company projects 1-3% organic growth for 2024 and a profit on operating activity of around 20% of revenue.