Report
Nicolas Thorez

Verimatrix : Q3 headed in the right direction

>Q3 2022 sales of $ 16.0m (+2.3% y-o-y), slightly ahead of our forecasts - Verimatrix’s Q3 sales came in at $ 16m, up 2.3% y-o-y, slightly ahead of our forecast (ODDO BHF $ 15.2m, -3%). Among the positive and notable points relative to Q2 was the acceleration in recurring revenue to $ 6.9m, up 11.6% y-o-y. The performance was primarily driven by the rise in subscriptions ($ 2.2, +58%) whereas maintenance remained flat at $ 4.6m. Elsewhere, non-recurring revenue was ...
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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