Inside information, profit warning: WithSecure’s Cloud Annual Recurring Revenue (ARR) growth did not reach the outlook;
According to preliminary, unaudited figures,
Outlook for 2023 for cloud ARR growth was 18 – 24%. At the end of 2022, cloud ARR was
Rationale for not meeting the cloud ARR outlook
Estimate for full year 2023 financial results –
According to preliminary, unaudited figures,
Revenue from cloud products is estimated to grow by approximately 19%. 2023 outlook for cloud products revenue growth was 18 – 24% from previous year. Previous year (2022) revenue from cloud products was
Total revenue of the group is estimated to grow by approximately 6%. 2023 outlook for total revenue growth was 6 – 12% from previous year. Previous year (2022) revenue was
Adjusted EBITDA of 2023 is estimated to be approximately
2023 outlook for adjusted EBITDA was the following: Adjusted EBITDA will improve from previous year. Previous year’s Adjusted EBITDA (Estimated comparable EBITDA for two first quarters) was
In addition,
Estimate for financial result of cyber security consulting business subject to strategic review
Fourth quarter revenue of the cyber security consulting business in scope of the strategic review is estimated to be approximately
The financial information stated in this release is preliminary and unaudited, as the company’s financial statements process is still in progress.
Full Financial statement release and Annual Report 2023 will be published on
Contact information:
VP, Controlling, investor relations and sustainability
+358 50 487 1044
investor-relations@withsecure.com
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