Cloud telephony specialist NFON has exceeded its profitability targets for 2023, with recurring revenue up by 4.8% to €77.1m and total revenue increasing 1.9% to €82.3m.
This growth includes a significant jump in adjusted EBITDA from -€1.0m to €8.4m.
The company's strategy of acquiring new customers, expanding services to existing ones, and installing more seats (up 3.4% to 655,967) contributed to these gains.
In early 2023, NFON underwent a management reshuffle and staff restructuring.
Patrik Heider (pictured), CEO and CFO of NFON since the second quarter of 2023, said: “In 2023, we already achieved significant improvements in our results and initiated key strategic projects. We are proud of what we have already achieved and see this as confirmation that we are on the right track."
For the 2024 financial year, NFON targets a mid to high single-digit percentage growth in recurring revenue, which is expected to constitute over 90% of total revenue.
Adjusted EBITDA is projected to be between €10m and €12m.
