Nixu Corporation announced today that its unaudited revenue for July–September 2019 was EUR 10.7 million, whereas the revenue in the comparison period July–September 2018 was EUR 8.4 million, an increase of 28%.
The company reiterates its financial guidance for 2019: Nixu continues to emphasize the importance of growth and continues to invest heavily in growth projects. Supported by strong organic growth and the completed acquisitions, Nixu estimates its revenue to grow approximately 35% from the previous financial year. The full year EBITDA is estimated to improve significantly from the previous financial year.
CEO Petri Kairinen:
The period July–September is typically slower in terms of revenue due to summer vacations. That is why we seek to focus on personnel training and development during this period. A good example of such actions is the annual nixucon. It is an internal conference where Nixu employees from different countries share their knowledge and skills in the form of expert presentations. Nixucon19, held in August, was a great success and positively reinforced our strategic goal of being the best workplace for cybersecurity professionals.
Our revenues grew with a fast pace of 28%, although the period was slower than expected, due to the cancellation of forecasted technology resale deal. Following this we had to lower our guidance for full-year revenue growth. In the big picture, the cybersecurity market continues to look healthy as companies are forced to invest in cybersecurity as their digitalization progresses.
In August, we announced Nixu’s growth ambition for years 2020–2024. In December, it will be five years since Nixu was listed on Nasdaq Helsinki First North market place. During this time, Nixu’s average annual growth rate has been almost 30%. According to our experience, in a rapidly evolving area such as the cybersecurity market, it is futile to attempt to create five-year plans. Nevertheless, we wanted to share our growth ideas and provide a more concrete picture of what the next five years could look like for Nixu. We believe an average annual growth of 25–35% is achievable through a combination of organic and inorganic growth. We will also launch new, technology-based continuous cybersecurity services for our customers. We shared our growth targets with our employees at the Nixucon19 event. The reception was enthusiastic, and there is a strong common belief in our continued growth. The digitalization of society will inevitably increase the number of cyber threats. The need to secure business continuity and increasing regulation will require continued investments in cybersecurity.
Chief Executive Officer Petri Kairinen, Nixu Corporation
telephone +358 40 832 1832, e-mail: email@example.com
Nixu in Brief:
Nixu is a cybersecurity services company on a mission to keep the digital society running. Our passion is to help organizations embrace digitalization securely. Partnering with our clients we provide practical solutions for ensuring business continuity, an easy access to digital services and data protection. We aim to provide the best workplace to our team of about 400 cybersecurity professionals with a hands-on attitude. With Nordic roots we serve enterprise clients worldwide. Nixu shares are listed on the Nasdaq Helsinki stock exchange.