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NFON sees 2.1% revenue rise amid transformation

NFON has reported a solid financial performance for the first three quarters of 2023, with a 2.1% rise in revenue, from €60.4m to €61.7m. 

The company's recurring revenue saw a more notable increase of 5.1%, reaching €57.8m and comprising 93.6% of the total revenue.

This growth was driven by new customer acquisitions and a 3.7% increase in the number of installed seats, reaching 645,707.

Significantly, NFON AG turned around its adjusted EBITDA from a €0.8m loss last year to a €6.0m profit in 2023. 

This improvement is part of the transformation process begun earlier this year, with further changes expected. 

For the full year, NFON AG aims for a mid to upper single-digit percentage growth in recurring revenue and anticipates an adjusted EBITDA between €7.8m and €8.3m.

CEO Patrik Heider said: “Operating developments in the first nine months of 2023 highlight the opportunities open to NFON and confirm our plans.”