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.”
