Report
Nicolas Thorez

Verimatrix : Q3 a little weaker than expected, which we see as no event before more decisive Q4 and pivotal 2025 for VMX

>Q3 2024 revenues, at $ 14.1m, missed expectations (+1% YoY) - Verimatrix reported yesterday evening $ 14.1m in Q3 revenues, inching up 1% YoY but missing our initial expectations (ODDO BHF: $ 15.3m). The difference is attributable to a lower-than-expected volume of licences in non-recurring revenues and a slight QoQ dip in subscription revenues over the quarter. Overall, trends remained mixed with recurring revenues (60% of revenues) up 4% YoY (of which +18% YoY for ...
Underlying
Verimatrix SA

Inside Secure designs, develops and sells software, silicon IP, tools and know-how to be integrated into mobile and connected devices to protect its customers' transactions, content, applications, and communications. Co. is serving markets such as: network security; IoT security; content & application protection; and mobile payment & banking. Co.'s technology protects solutions for a broad range of customers including: service providers; digital content distributors; security system integrators; device vendors; and semiconductor manufacturers.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Nicolas Thorez

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