Business Wire

Tecnotree Reports Impressive Q1 2023 Results with Strong Growth and Increased Profitability


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:

To view this piece of content from, please give your consent at the top of this page.

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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

To view this piece of content from, please give your consent at the top of this page.

Contact information

Padma Ravichander, Tecnotree CEO

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

Wemade’s MMORPG MIR M Reveals New Content ‘Monster Dungeon’30.5.2023 16:00:00 EEST | Press release

Wemade's MMORPG MIR M: Vanguard and Vagabond showcased new content, "Monster Dungeon," on May 30th. This press release features multimedia. View the full release here: MIR M reveals new “Monster Invasion” content on May 30. (Graphic: Wemade) Users can obtain the "Demonic Stones" of field monsters they have defeated. Each "Demonic Stone" can be used to summon that monster in Monster Dungeon. By defeating all summoned monsters, users can obtain "Essence" items as rewards. "Essence" items can be registered to the Monster Codex to increase character stats. MIR M will be holding the event "Grand Operation Defeat Giant Scarecrow" until the update on June 13th. Users can defeat the Giant Scarecrow that appears in the Ginkgo Valley area to obtain gifts such as "Giant Scarecrow Raid Chests" and "Giant Scarecrow Demonic Stones." By using "Giant Scarecrow Demonic Stones," users can obtain Demonic Stones that can be used to summon boss mons

Q4 Inc. Set to Transform IR Effectiveness with Generative AI on the Q4 Platform30.5.2023 14:30:00 EEST | Press release

Q4 Inc. (TSX: QFOR) (“Q4” or “the Company”), the leading capital markets access platform, is excited to announce progress on pioneering generative artificial intelligence (“AI”) that is purpose built for Investor Relations (“IR”) effectiveness to help automate common tasks and accelerate decision making. By combining AI with the industry’s only end-to-end IR platform, IROs will be able to find insights exclusive to them built on a pool of their own proprietary program data and capital markets data aggregated on the Q4 Platform. “We are embarking on one of the most exciting product cycles in our history,” remarked Darrell Heaps, Founder and CEO of Q4. “Our offerings will unlock tremendous new opportunities for our clients to benefit from the unmatched richness and scale of our proprietary data with the integration of generative AI. The result for clients will simply be effective investor relations and better insights for our investment banking and equity capital markets clients.” In the

Kinaxis RapidResponse Available on Google Cloud Marketplace30.5.2023 14:00:00 EEST | Press release

Kinaxis ® Inc. (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, announced today announced that the market’s leading supply chain management solution, Kinaxis RapidResponse® is available on Google Cloud and in the Marketplace. RapidResponse supports key business processes such as demand and supply planning, integrated business planning, sales and operations planning (S&OP) and inventory management, and delivers end-to-end transparency with its control tower capabilities. Concurrent planning breaks down organizational silos, unifies disparate data under a single all-inclusive data model, and codifies business-wide trust through the continuous alignment of everyone and everything across a company’s end-to-end supply chain. “We’re pleased the Kinaxis platform is now available on Google Cloud,” said Dai Vu, Managing Director, Cloud Marketplace & ISV GTM Initiatives at Google Cloud. “Customers can deploy Kinaxis via the Google Cloud

New Clinical Data on Vuse Illustrates Beneficial Public Health Impact of Tobacco Harm Reduction30.5.2023 13:00:00 EEST | Press release

New results from one of the largest ever vapour product studies, which analysed BAT’s flagship vapour brand Vuse, have been published in the journal of Internal and Emergency Medicine ( This press release features multimedia. View the full release here: One of the largest ever vapour product studies compared clinical measurements from exclusive Vuse consumers with smokers (Graphic: Business Wire) The study compared clinical measurements from exclusive Vuse consumers with smokers. The results of the study show that participating Vuse consumers had favourable differences in biomarkers of exposure (BoE) and biomarkers of potential harm (BoPH) relevant to smoking-related diseases when compared to smokers. Vuse users have shown significantly lower biomarkers of exposure for priority cigarette smoke toxicants as defined by the World Health Organization (WHO)iii. The data al

Quectel 5G RG620T modules based on MediaTek T830 gain global certifications to help drive FWA app deployment30.5.2023 13:00:00 EEST | Press release

Quectel Wireless Solutions, a global IoT solutions provider, today announces that its 5G New Radio (NR) modules series, the RG620T has received FCC/ IC/ CE and RCM certifications. The RG620T series is the first 5G module based on the MediaTek T830 System-on-Chip (SoC) to receive all these certifications. The certifications will enable customers to efficiently deploy their 5G fixed wireless access (FWA) devices around the globe. This press release features multimedia. View the full release here: Quectel 5G RG620T modules based on MediaTek T830 gain global certifications to help drive FWA app deployment (Graphic: Business Wire) The RG620T delivers an extensive range of cutting-edge features including ultra-high 5G data speeds, quad-core A55 CPU, the latest Wi-Fi 7 connection as well as a series of innovations in antenna frequency band design, flash memory and QuecOpen, making it an ideal solution for the FWA market which demands h

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