Ekinops reported Q3 2024 revenue of €30.4 million, marking a 9% year-on-year increase and a 4% rise from Q2 2024. This performance represents a return to growth for the company, achieving its highest quarterly revenue since Q2 2023. When adjusted for constant exchange rates, the revenue growth stands at 10%. However, the year-to-date consolidated revenue for the first nine months of 2024 fell by 11%, totaling €87.9 million, the same decline at constant exchange rates.
Access solution sales saw an 8% increase for the first nine months of 2024, largely due to a 27% surge in France, where operators replenished inventories. Conversely, Optical Transport sales dropped by 34%, impacted by operator caution amid network overcapacity and slowing internet traffic. Still, Optical Transport solutions posted a sequential 16% growth compared to Q2 2024. Software and Services now represent 16% of Ekinops’ total revenue, showing a slight rise in recurring services.
Geographically, Ekinops recorded an 18% growth in France, where business now constitutes 45% of its total revenue. Internationally, the company faced declines, including a 29% drop in North America, largely due to delays in the BEAD program, and a 23% decrease in EMEA. Asia-Pacific also saw a 31% drop, driven by reliance on a few key customers.
• Q3 2024 revenue: €30.4 million (+9% year-on-year, +4% sequentially)
• 9-month 2024 revenue: €87.9 million (-11% year-on-year)
• Access solutions sales: +8% for the first nine months
• Optical Transport sales: -34% over nine months, +16% sequential growth in Q3
• Software and Services share of total revenue: 16%
• France revenue growth: +18% in the first nine months
• North America revenue: €17.8 million (-29%)
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