Technetix Group Audited Financial Results for the year ended December 31 2023
Technetix FY2023 annual revenue up 33% on prior year
Albourne, UK, March 19, 2024 – Global broadband infrastructure industry leader, Technetix, announces a record year of growth and increased momentum in sales in the North American market, with the release of the company’s results for 2023.
With a significant increase in revenue of 33% to $157m (compared to $118m in 2022), this strong growth comes at a time of increased opportunity in the critical broadband infrastructure market. The company’s EBITDA increased by $12m to $20m (2022: $8m) and Americas revenue was up 282% to $80m. This is underpinned by a financially resilient balance sheet with net debt reducing to $2.2m.
Technetix attributes the growth to a robust pipeline of R&D products and services coming to market, resulting in a number of contract wins from tier-one operator network upgrades in North America. In addition, the successful integration of the Lindsay Broadband acquisition in the Americas and the development of FTTx across Europe have driven more opportunities for Technetix.
Paul Broadhurst, President, CEO and Founder said: “We’re a steadfast and stable partner to our customers as they make broadband infrastructure investment decisions, and our team are immensely proud of our reliable track record of delivery. We continue listening to our customers to deliver the critical infrastructure solutions they need to optimize their operations and realize their ambitions – which in turn facilitates our own ongoing success.
“We confidently expect to continue our product leadership and significant revenue growth into 2024.”
About Technetix
Working with leading broadband operators in 70 countries, Technetix provides critical broadband infrastructure for network operators globally. We work closely with our customers as trusted partners, listening to their needs to innovating and deliver technologically advanced products and solutions. We help our customers drive a more flexible and powerful network with extended lifespan, reducing both cost of ownership and energy consumption. With cutting-edge solutions including Distributed Gain Architecture, the DBT Gamechanger, the DBx Open Access Platform, Virtual Segmentation, Remote Optical Line Terminal (rOLT) and XGT taps, Technetix is a reliable partner for broadband operators to achieve their most ambitious goals. www.dev.technetix.com
