Cybersecurity company Positive Technologies reported a 2.7-fold increase in revenue, a doubling of sales and the highest profitability in business history in the third quarter of 2022, it said in a statement.
- Revenue in the third quarter increased 2.7 times compared to the same period last year, up to 3.5 billion rubles. The company’s revenue for the first 9 months of 2022 reached 7 billion rubles (an increase of 115% compared to the same period last year).
- Gross profit in the third quarter increased to RUB 3.2 billion, 185% more than a year earlier. As a result of growth in the share of license revenue Positive Technologies achieved its historically high gross profit margin of 91%.
- EBITDA for the third quarter and nine months increased to 1.9 billion rubles and 2.6 billion rubles, respectively, more than 4 times higher than last year. EBITDA for the quarter also reached its all-time high of 55%.
- Positive Technologies made 1.7 billion in net profit in the third quarter, which is 7 times more than in the same period last year. The net profit margin increased from 19% to 48%.
The company attributed the results to “significant business expansion, increased sales and customer base, higher gross margins, increased business efficiency and cost control.”
In the third quarter of 2022, the company conducted an SPO – a secondary public offering on the Moscow Stock Exchange without additional issuance. As part of the deal, investors bought company securities in the amount of one billion rubles.
Author:
anastasia mariana
Source: RB
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