ESPOO, FINLAND--(Business Wire / Korea Newswire)--Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, today announced its financial results for the first quarter of 2024, demonstrating solid growth with a 4.7% increase in revenue. The company maintained its momentum in driving global sales of its digital platform, in the first quarter of 2024, completing many AIML and digital transformations to key customers, resulting in a significant increase in revenue. The growth was primarily driven by new wins in the LATAM region, while EMEA and APAC regions remain growing markets for the digital platform.

Key Q1 Highlights of the financial results:

· Net sales increased 4.7% to EUR 16.3 (15.5) million.
· Operating results increased by 22.3% to EUR 4.4 (3.6) million.
· Earnings per share EUR 0.01 (0.01).
· Order book at the end of the period increased by 10.3% to EUR 74.8 (67.8) million.

Tecnotree achieved several notable milestones in the first quarter. The company solidified its position as a trusted partner for telecom providers in AIML-powered BSS solutions by winning an AIML-enabled Digital Transformation partnership in Jordan, expanding its offerings in the Middle East. Additionally, Tecnotree secured Nuh-Digital in Brazil, increasing the number of MVNO wins in a new market. Tecnotree Moments platform was selected by Global Hitss to elevate e-health services across Mexico and Latin America, promising streamlined operations across the healthcare value chain. This initiative was also recognized by the TMForum 2024 Excellence Awards, where Tecnotree became the finalist, particularly for its collaboration with Globalhitss in bringing B2B2X healthcare to Mexico using the ODA framework and accelerating network monetization.

Padma Ravichander, CEO of Tecnotree Corporation, said, “With the revenue growth to EUR 16.3 million, the first quarter proved to be a great start to 2024. Tecnotree’s order book grew to EUR 74.8 million and the growth was supported by LATAM, Middle East, Africa, and APAC. Looking ahead, Tecnotree remains committed to extending its digital products and services to telecom operators worldwide and helping their digital transformation journeys. We aim to expand within existing markets while exploring new opportunities in the US, Europe, Oceania, Asia Pacific, and adjacent regions.”

“With the partnerships for Tecnotree Moments that we are forging in LATAM with Global Hitss for E-health, we strengthen our eco-system play and plan to drive tangible business for all stakeholders.”

About Tecnotree

Tecnotree has been Empowering Digitally Connected Communities to over 90+ Telecom Providers around the world, since 1978. Our leading AIML-embedded, 5G-ready digital Business Support System (BSS), with multi-cloud extensibility, has challenged traditional transformation approaches and gained acceptance across a range of emerging and established markets, currently supporting over 1 billion subscribers. Change and transformation are at the very essence of our DNA driving continuous innovation, delivering world-class experiences and monetisation capabilities to telecom operators and their customers through Tecnotree Moments, enabling essential services beyond voice and data connectivity to other digital experiences in the area of health, education, financial inclusion and beyond. Tecnotree is listed on the Helsinki Nasdaq (TEM1V).

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Website: https://www.tecnotree.com/ View Korean version of this release Contact Tecnotree
Prianca Ravichander, Tecnotree CMO
[email protected]
This news is a press release provided by Tecnotree Corporation. Korea Newswire follows these editorial guidelines. Tecnotree Corporation News ReleasesSubscribeRSS 테크노트리, 지속적인 매출 성장과 수익성 향상으로 강력한 2024년 1분기 실적 달성 AI, 5G 및 클라우드 네이티브 기술 분야의 글로벌 디지털 플랫폼 및 서비스 리더인 테크노트리(Tecnotree)가 오늘 2024년 1분기 재무 실적을 발표하며 매출 증가율 4.7%의 견조한 성장을 보여주었다. 이 회사는 2024년 1분기에 디지털 플랫폼의 글로벌 판매를 주도하는 모멘텀을 유지하여 주요 고객에게 많은 ... 4월 28일 11:20 Tecnotree's Comprehensive Next-Generation BSS Solutions to Drive Nuh Digital’s Transformation Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, announced the signing of a new digital transformation deal with Nuh Digital, to provide BSS stack solutions to enhance the company’s operational efficiency and meet current and future mar... 2월 29일 16:35 ... More  More News Technology Mobile Device Earnings Overseas Tecnotree Corpora... All News Releases 