Tecnotree Reports Impressive Q1 2023 Results with Strong Growth and Increased Profitability
18.4.2023 12:04:00 EEST | Business Wire | Press release
Tecnotree, a global digital platform and services leader for 5G and cloud-native technology, announced its financial results for the first quarter of 2023, demonstrating impressive growth and success. The company has achieved a remarkable 17% growth in net sales, marking its strongest Q1 revenue performance in the past four years. This exceptional growth was primarily driven by the Americas Region, which contributed significantly to Tecnotree's revenue expansion.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230418005718/en/
Tecnotree Reports Impressive Q1 2023 Results with Strong Growth and Increased Profitability (Graphic: Business Wire)
Key Q1 Highlights of the financial results:
• Net sales were EUR 15.5 million with a growth of 17.0% as compared to last year
• The operating result was EUR 3.6 million, an increase of 80.5%
• The net result was EUR 1.8 million, an increase of 79.2%
• Order book at the end of the period stood at EUR 67.8 million
• Earnings per share were EUR 0.01
Padma Ravichander, CEO of Tecnotree Corporation, said, “Tecnotree has achieved several significant milestones in the first quarter of 2023, demonstrating its unwavering commitment to innovation, excellence, and customer satisfaction. Our continued growth is fuelled by the increasing demand for our products and solutions, with strong ongoing deliveries of the Digital Stack across the Middle East, Africa, and Europe, and we anticipate receiving increasing orders from new and existing Tier 1 operators. This growth is a result of our continued investment in R&D, particularly in our Tecnotree Sensa AI/ML engineering platform and multi-cloud technologies, which has further cemented our position as a leader in the AI/ML space.”
She further commented, “We're committed to expanding our digital products and services to reach new frontiers in Telco, Healthcare, and Fintech industries in 2023 and beyond. Our Moments platform and Fintech offerings are poised to revolutionize the way digital service providers and ecosystem players collaborate to introduce innovative revenue models and empower digitally connected communities. We're excited to build new partnerships and leverage our expertise to make a significant impact in these new verticals."
Other significant milestones in the Quarter:
- Tecnotree has increased its research and development investments and launched Tecnotree Sensa AI/ML engineering platform, which has been integrated across its digital portfolio for Telecom, Fintech, and Social Commerce segments. The move has enabled the company to enhance its offerings and deliver more value to its customers.
- The company witnessed its highest Q1 growth in net sales and added two new Tier-1 logos from North America, Radian in the USA and Telus in Canada. Furthermore, an existing customer, Claro Peru, expanded its digital portfolio to include Sensa AI for customer 360 experience management. This expansion has helped Tecnotree to strengthen its customer base and position itself as a leader in the industry.
- Tecnotree's profitability has improved, despite increasing its investments in research and development. The company has implemented strong cost-saving measures in its human capital to achieve this, demonstrating its commitment to sustainable growth.
- Tecnotree has been recognized by Gartner’s Market Guide again in Q1 of 2023 for Customer Experience and Management for Telecom Operators and has been consistently recognized for the same since 2020. Additionally, Tecnotree has been recognized by Gartner’s Market Guide for Revenue Monetisation and Management for Telecom Operators consistently since 2020. The recognition reinforces Tecnotree's reputation as a reliable and innovative partner in the industry.
- Tecnotree continues to be among the leading vendors in TM Forum Open APIs certification standards, with 44 APIs certified by the industry standards body, highlighting the company’s commitment to interoperability and collaboration.
- Tecnotree Moments, the company's telecom monetisation platform, has been awarded the Best Telecom Monetisation Platform by the Government of Dubai at the ftNFT Awards. This recognition is a testament to Tecnotree's leadership in cutting-edge technologies and its ability to drive further innovation with humanized AI-enabled experiences.
About Tecnotree
Tecnotree is a 5G-ready digital Business Support System (BSS) player, with AI/ML capabilities and multi-cloud extensibility. Tecnotree is among the first companies in the world to be Platinum Certified by TM Forum Open API standards, and our agile and open-source Digital BSS Stack comprises the full range (order-to-cash) of business processes and subscription management for telecom and other digital services industries creating opportunities beyond connectivity. Tecnotree also provides Fintech and B2B2X multi-experience digital marketplace to its subscriber base through the Tecnotree Moments platform to empower digitally connected communities across gaming, health, education, OTT, and other vertical ecosystems. Tecnotree is listed on Helsinki Nasdaq (TEM1V).
For more information, please visit www.tecnotree.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230418005718/en/
Contact information
Padma Ravichander, Tecnotree CEO
Email: marketing@tecnotree.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Estithmar Holding Net Profit Surges 122% to QAR 938 Million; Revenue Rises 54% to QAR 6.4 Billion for the Year Ended 31 December 202510.3.2026 23:52:00 EET | Press release
Estithmar Holding Q.P.S.C. has announced its financial results for the year ended 31 December 2025. The group reported a 54% increase in revenue to QAR 6.4 billion, compared with QAR 4.2 billion in 2024. Gross profit rose to QAR 2.1 billion, up from QAR 1 billion in 2024, representing growth of 111%. EBITDA reached QAR 1.5 billion, an increase of 102% year-on-year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310410214/en/ Estithmar Holding Net Profit Surges 122% to QAR 938 Million; Revenue Rises 54% to QAR 6.4 Billion for the Year Ended 31 December 2025 (Photo: AETOSWire) Net profit climbed 122% compared with 2024, reaching QAR 938 million. Earnings per share increased by 145% to QAR 0.264. The growth in net profit was primarily driven by higher revenues, particularly from the specialized contracting and healthcare sectors. The results reflect the group’s ability to convert operational growth into sustainable profitabi
IFF Expands Latin American Footprint With New Enzyme Hub, Brazil Application Lab10.3.2026 22:30:00 EET | Press release
IFF (NYSE: IFF) — a global leader in flavors, fragrances, food ingredients and health & biosciences — is enhancing regional production and innovation capabilities to better support the continued growth of its Health & Biosciences (H&B) business in Latin America, one of the fastest-growing markets for the company. The effort includes the transformation of the Arroyito site in Argentina into IFF’s first full fermentation‑based enzyme production hub in the region and the opening of a household care application laboratory at IFF’s Innovation Center in Brazil. Together, these enhancements expand IFF’s regional footprint and are expected to improve speed, reliability and locally relevant solutions for markets including brewing, animal nutrition, biofuels and home care. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310253993/en/ IFF's home care application lab in Brazil. “This is about turning science into impact where it matte
Xtep-Sponsored Chinese Teenage Dancer Claims World Championship at Juste Debout Street Dance World Finals10.3.2026 20:46:00 EET | Press release
Xtep, a well-known sportswear brand from China, proudly announced that Xtep-sponsored Chinese teenage dancers delivered an electrifying performance at the Juste Debout Street Dance World Finals in Paris on Sunday, March 8, 2026, claiming top honors and showcasing a unique fusion of traditional Chinese culture with modern street dance. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310519224/en/ Chinese Teens Dance to Glory at Juste Debout World Finals Li Yongqiu, a 14-year-old from Southwestern China’s Chongqing Municipality, made history by winning the Global Championship in the Junior Dance Tour, becoming the third Chinese dancer to achieve this feat. His explosive power and technical mastery, honed through years of training that integrates Kungfu elements, captivated judges and audiences alike. The Chinese contingent's success didn't stop there. Zhang Xinlan and Zhang Chuyi secured a Top 8 finish in the Popping Adult D
ATLAS Infrastructure Invests in H2O America, Backs Long-Term Growth Strategy10.3.2026 19:29:00 EET | Press release
ATLAS Infrastructure (“ATLAS”) is a specialist Global Listed Infrastructure investor managing funds on behalf of long-term infrastructure clients. Following the recent equity placement, ATLAS’s actively managed accounts hold ~10.8% voting and economic interest in H2O America (“H2O”). ATLAS was pleased to support H2Os long‑term strategy to invest in local water and wastewater utility operations through our participation in the recent equity raise. ATLAS recognises the disciplined approach from H2O management which focuses on organic investment in existing businesses alongside targeted and accretive transactions such as the acquisition of Quadvest which materially expands H2O’s regulated water footprint in a premium high‑growth jurisdiction. The upsized equity raise, anchored by ATLAS, supports the company strategy through providing significant balance sheet capacity and financial flexibility well into the Company’s 2026-2030 CapEx plan. “Increased investment in water utilities is essent
Svante and Integrated Packaging Company Advance U.S. Biogenic CDR Project to Feasibility10.3.2026 15:57:00 EET | Press release
Svante Technologies Inc. (“Svante”) announced today that its bioenergy with carbon capture and storage (BECCS) project at a paper mill in the Southeast U.S. has progressed to the feasibility study phase. The project is being developed in partnership with an integrated sustainable packaging company, following an extensive screening and pre-feasibility study conducted across several of the partner’s mills. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310319382/en/ During the feasibility study phase, the companies will complete further engineering and design activities, cost and schedule estimates, and risk assessments required to evaluate commercial viability ahead of a future engineering study leading to final investment decision (FID). Svante’s subsidiary, Svante Development Inc., is co-investing in this phase with the mill owner. The project is designed to capture and permanently store more than 500,000 tonnes per year
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom