NFON AG : Q2 2019 results inline; revenue guidance now geared to lower end of range due to a reduced non-recurring revenue expectation
>Active seats expand +42% yoy, +24%e organically - NFON reported Q2 2019 results largely in line with our estimates and the street. Group revenue rose 33% yoy to € 14.2m, slightly shy of our € 14.8m due to a higher share of wholesale business, which involves less hardware and airtime sales, i.e. less non-recurring revenue. The main Q2 growth drivers, however, were i/ a strong yoy +42% increase in the number of active seats to 408k including the acquired DTS, which add...Nfon AG is a Germany-based company that provides cloud-based telephone systems. Its product and service offering includes primarily NFON Cloud Telephone System, a public multi-tenant PBX delivering servicing from the cloud, as well as specialist solutions. The Company's services enable communication for customers and their employees on various devices, including smartphones, tablets, personal computers, and desk phones. Its customers range from local small businesses to international large enterprises. The Company is active in various European countries, including Germany, Austria, Switzerland, the Netherlands, Poland, Hungary, the United Kingdom, Slovenia, Slovakia, Spain, Croatia, Romania and Portugal.
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.
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