Verimatrix S.A. (0QAU) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

I think we can go. Thank you everyone for participating in the announcement of the 2023 results of Verimatrix. There will be my presentation at the beginning and Jean-François Labadie, our CFO. We will talk either about the results of the fourth quarter of 2023, which is the result of the year of the full year 2023. Before I start the presentation, I wanted to tell you that for the people who followed our story a little bit, in 2021 was the year in which we decided to change the business model, to move from a business model It was a business model that for the clients, our clients, it was capex and we had trimesters not balanced, all focused on the end of the year because it was capex for the clients, especially the telecom clients. We decided over a year of COVID and a little difficult to pass a SaaS model and a subscription model. this transformation, which is a transformation in depth for a company, because we were forced to redevelop a part of the products or adapt the products to a cloud world, and to redevelop the commercial force, to give another elan to the company to communicate to our customers the need to go to subscriptions and a cloud service that could give customers a lot more flexibility, a lot more speed in the information that we give to customers on the pirates, on the fraudsters, all the people who attack the goods of customers. It was a process that made us lower the declared turnover and profitability. But we already see, and Jean-François will give you all the figures for the year 2023, that the decrease in the figures to be made that we experienced in 2021 and 2022, we stopped this decrease in figures to be made. and we started to benefit from the transformation of our perpetual model into a recurring revenue model, on which we exceeded in 202...