EQS Group Reports Growth Amid Increased Whistleblowing Regulations

EQS Group AG, a significant player in compliance cloud software in Europe, announced a fruitful year in its 2023 financial report, released on April 29, 2024. The company showed impressive growth by achieving a revenue of EUR 69.40 million, marking a 15 percent increase from the previous year. This growth was particularly strong in the compliance segment, which soared 18 percent to EUR 49.95 million, facilitated by new EU regulations on whistleblower protection.

The report indicates that regulatory changes, notably the EU Whistleblower Protection Directive, significantly propelled demand for the company’s whistleblower systems. In 2023 alone, EQS Group on-boarded over 3,300 new software-as-a-service (SaaS) customers. The company's EBITDA experienced a dip to EUR 3.28 million due to expenses related to Thoma Bravo’s public takeover bid but adjusted figures show a healthy EBITDA of EUR 8.55 million.

Additionally, EQS Group highlighted the strategic acquisition by Thoma Bravo, which concluded with a majority acceptance of 97.5 percent by shareholders on February 2, 2024. The management of EQS Group views this collaboration as a crucial strategy to augment growth and solidify their market position as leaders in compliance management systems in Europe.

The 2023 financial year also saw an upturn in their Investor Relations segment, with a 3 percent increase in revenue. EQS Group continues to enhance their offerings, meeting the evolving needs of European companies amid stricter regulatory requirements.