Cloud telephony specialist NFON has advanced its reorganisation in Q1 2024, increasing revenues by 2.2% to £21.2m.
This growth is driven by a 2% rise in customer-installed seats, totaling 658,544, and enhanced cross-selling activities.
Recurring revenue grew by 2.8% to €19.9m, making up 93.6% of total revenue. EBITDA improved to €2.8m, up from €2.0m in the same period last year.
Patrik Heider (pictured), CEO and CFO of NFON, said: “The current figures show that our strategy is effective. In the current year, we will continue to press ahead with the changes initiated with the goal of operational excellence, which will enable us to strengthen growth and especially profitability.”
For 2024, NFON expects mid- to upper-single-digit growth in recurring revenue, aiming for over 90% of total revenue, with adjusted EBITDA projected between €10m and €12m.
