| 2020 REVENUE: €14m (up 37%) ANOTHER YEAR OF GROWTH FUELLED BY THE PLATFORMS BUSINESS (UP 67%) | |
_ STREAMWIDE (FR0010528059 - ALSTW - eligible for French PEA-PME), expert in critical communications software solutions, reports a sharp increase in first half 2020 revenue of €6.6 million, up 37%.
As stated following the 20 July 2020 H1 revenue release and restated on 21 September 2020, 2020 revenues surged against a backdrop of the global pandemic and following a 51% revenue leap in 2019.
Second half 2020 revenue growth of 46% outperformed first half 2020 revenue growth of 28%.
Continuing a trend of sharp growth since 2019 (revenues up 51%), 2020 revenues soared 37%. Sustained revenue growth amounting to €3.7 million was largely fuelled by team on mission and team on the run, new critical communications platforms.
2020 revenues break down as follows:
| €000 | FY 2020 | % rev. | FY 2019 | % rev. | Ch. | Ch. (%) |
| TOTAL REVENUE | 13 957 | 10 209 | 3 748 | +37% | ||
| Licences | 5 799 | 42% | 3 883 | 38% | 1 916 | +49% |
| Maintenance | 3 184 | 23% | 3 269 | 32% | -85 | -3% |
| Services | 4 974 | 35% | 3 009 | 30% | 1 965 | +65% |
| Third-party sales | - | - | 48 | - | -48 | -100% |
| Platforms business | 8 300 | 59% | 4 973 | 49% | 3 327 | +67% |
| Legacy business | 5 657 | 41% | 5 236 | 51% | 421 | +8% |
(*) 2020 revenues are currently being audited.
_ ONGOING REVENUE GROWTH
New systems development continues: team on mission and team on the run, new critical communications platforms for which 2020 revenues leapt by €3.3 million, now account for close to 60% (up 10 basis points year-on-year) of total Group revenues.
Such revenue growth was mainly due to the ongoing impact of the partnership with the Secure Land Communications (SLC) division of Airbus Defence and Space, ongoing PCSTORM project rollout and new contracts and projects won and delivered in 2020 with French government agencies and private companies.
2020 Platforms revenue of €8.3 million includes €4.1 million from licences and €3.9 million from services, up €1.5 million and €1.6 million respectively. While 2020 maintenance revenues of €0.3 million are still low, they surged by €0.2 million, as stated in 2019.
The "Legacy" business held up well: the Legacy business (serving telecoms operators) also turned in buoyant 2020 revenue of €5.7 million, up €0.4 million, and still accounts for 41% of total revenues. 2020 licence sales, which by definition are non-recurring, rose by €0.4 million to €1.7 million, boosted by new contracts that primarily came in during H2 2020. 2020 Legacy services rose by €0.3 million to €1.1 million due to a new contract with a French operator, a longstanding Group customer. The new contract will generate lower maintenance revenue than previous contracts but for a longer period, which explains the €0.3 million reduction to €2.9 million of 2020 total maintenance revenue.
_ OUTLOOK: 2020 EARNINGS SOAR, ONGOING PROJECTS AND GROWTH
The 2020 revenue surge while keeping a lid on costs, is expected to lead to even sharper growth in profit margins. So, 2020 earnings and operating margins should come in significantly higher than in 2019.
In late June 2020 the Group obtained a €2.5 million PGE state-guaranteed loan, securing the Group's financial resources in the short and medium term while optimizing its gross cash at the end of 2020. Investment in the new team on mission and team on the run critical communications platforms will thus be maintained and supported in the coming months to support growth.
A host of new features have now been added to team on mission and team on the run including:
- Telephony Advanced System (outside calls in/out, call transfer, calls on hold and more) such that expensive and inflexible DECT or landline phone systems that are no longer fit for purpose in modern business, can be replaced;
- Unified Communication and real time shared (audioconferences, videoconferences, shared screens and whiteboards), needs and uses that in the last few months have surged as a result of lockdown and a rise in home working.
These new developments have been integrated into secure and sovereign technical architectures, which is a real differentiator compared to other existing "general public" solutions. The speed, with which these comprehensive shared working systems were developed, integrated and marketed, once again bears out the Group's agility and IT systems' tremendous flexibility.
Besides ongoing development work on new operational features, the Group will continue to roll out its three strategic offerings (API, SDK and virality). The late April 2020 launch of the API and SDK offering, together with future developments, should enable the Group to consolidate its leading critical communications market share.
Given that the Group's systems more than satisfy all target market needs, including those of sales agents and distributors, Group management is confident that the upward trajectory in business that began in 2019 and carried on throughout 2020, will continue in coming months.
Next financial release: 2020 results, Monday 22 March 2021
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About STREAMWIDE (Euronext Growth: ALSTW)
A major player in the critical communications market for 20 years, STREAMWIDE has successfully developed its team on mission (mission-critical) and team on the run (business-critical) software solutions for government agencies and businesses.
These solutions designed for smartphones and PCs and available in SaaS mode or under licence offer a wide range of features, including multimedia group discussion, VoIP, push-to-talk (MCPTT and MCx new generation 4G/5G LTE), geolocation tracking and business process digitisation and automation. These innovative solutions meet the growing needs for digital transformation and real-time coordination of operations. They allow field teams to transform individual contributions into collective successes and to act as one in the most demanding professional environments.
STREAMWIDE also operates on the value-added services software market for telecom operators (visual voice messaging, real-time call billing and taxation, interactive voice servers, applications and announcements), which serves over 130 million end users worldwide.
Based in France with operations in Europe, USA, Asia and Africa, STREAMWIDE is listed on Euronext Growth (Paris) - FR0010528059.
Read more at http://www.streamwide.com and check out our pages on LinkedIn @streamwide and Twitter @streamwide.
STREAMWIDE has been awarded the Bpifrance "innovation company" label and its shares are eligible for inclusion in French FCPI innovation funds and PEA-PME personal equity plans.
Contacts
| Pascal Beglin | Olivier Truelle | Grégoire Saint-Marc | Vivien Ferran |
| Président Directeur Général | DAF | Investor Relations | Press Relations |
| T +33 1 70 22 01 01 | T +33 1 53 67 36 94 | T +33 1 53 67 36 34 |
| investisseur@streamwide.com | streamwide@actus.fr | vferran@actus.fr |
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