Tecnotree is off to a
Promising Start with
Robust Q1 2021 Results

Latest News

Tecnotree, a global provider of Business Support Systems (BSS) for the telecom industry, announced its financial results for the first quarter ended on March 31, 2021. With the growth in almost all the parameters, including an increase of 287% in Net Income, the company continued its success streak after posting a strong result for the year 2020.

The results of Q1 2021 at a glance compared to Q1 2020 are:

  • Net sales grew to €11.2mn, an increase of 13.7%
  • Net income registered an increase of 287% to €2.4mn
  • Cash & Equivalent posted an increase of 120% to €10.0mn, depicting well-positioned liquidity
  • Order book increased by 33% to €47.3mn – highest order book position in the last 6 years
  • MEA region reported a growth in revenue of 16.1% and received a large digital transformation order of $11.7mn from a tier-1 operator

Tecnotree CEO Padma Ravichander states that “Despite continued economic challenges due to the pandemic, we reported an all-round growth and improved profitability. We had achieved one of the best Q1 performance in the company’s history in Q1 of this year and were able to surpass even our own benchmark performance of Q1 2020.”

“With the pandemic still raging in several parts of the world, we continue to remain committed to our customers and our employee wellbeing in these difficult times while still working to ensure delivery commitments are met through a multi-pronged approach.” Padma further added.

The company is strengthening its digital BSS stack further using RPA, AI and ML with innovative 5G-enabled platforms to deliver new revenue streams and improved operational efficiency to service providers.

Download Q1 2021 Report

ABOUT TECNOTREE

Tecnotree is a global provider of telecom IT solutions for the management of products, customers and revenue. Tecnotree helps Communications Service Providers to transform their business towards a marketplace of digital services. Tecnotree empowers service providers to monetize service bundles, provide personalized user experiences and augment value throughout the customer lifecycle. Tecnotree serves around 90 service providers in around 70 countries. Tecnotree is listed on the main list of NASDAQ Helsinki with the trading code TEM1V.

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