H1 2018 results: Inside Secure announces strong profitable growth
• +67%: year-on-year consolidated revenue growth in Q2 2018 to $12.4 million
• +57%: year-on-year consolidated revenue growth in H1 2018 to $22.5 million
• 14%: EBITDA margin in H1 2018 ($3.2 million) vs. 4% in H1 2017
• Strong cash position to $49.1 million at June 30, 2018
• 2018 objective confirmed
o Robust top line growth more than off-setting the anticipated decline of a U.S. customer
o Continuously monitoring operating expenses while investing in future growth
Aix-en-Provence, France, July 26, 2018 – Inside Secure (Euronext Paris: INSD), at the heart of security solutions for mobile and connected devices, is today reporting its IFRS unaudited1 consolidated results for the six-month period ended June 30, 2018. Figures for 2018 and 2017 have been prepared in accordance with IFRS 15 “Revenue from Contracts with Customers" since company opted in 2017 for an early adoption of IFRS 15.
Commenting on these results, Amedeo D’Angelo, chairman and chief executive officer of Inside Secure, stated:
“This semester, we have delivered a strong performance both on revenue and profitability while continuing our investments across our portfolio to fuel future growth.
Revenue growth was particularly high, driven by strong business fundamentals over the period, new significant agreements with existing customers in the second quarter, and NFC patent license revenue. We continued to significantly grow license revenue, leveraging our customer base and attracting new customers with bundled solutions to embed security at the heart of their products and secure their communications, as illustrated by our partnership with Kalray on intelligent processors and Andes on security processors for IoT in Asia.
As expected, we continued our research & development efforts across our portfolio to bring more value to our customers in high potential verticals such as IoT and automotive by combining embeded security into chips with provisioning capacity of the acquired company SypherMedia to monitor security during the entire life cycle. We are also developing new solutions to enable studios protecting their premium content revenue.
Thanks to strong revenue growth in the first half, we are confident that we will achieve robust top line revenue growth in 2018 while continuing to closely monitor our investments toward profitable growth and position Inside Secure in high potential markets.”
Read more from the results PDF-file (download the PDF from the top banner).
About Inside Secure
Inside Secure (Euronext Paris – INSD) is at the heart of security solutions for mobile and connected devices, providing software, silicon IP, tools, services, and know-how needed to protect customers’ transactions, ID, content, applications, and communications. With its deep security expertise and experience, the company delivers products having advanced and differentiated technical capabilities that span the entire range of security requirement levels to serve the demanding markets of network security, IoT and System-on-Chip security, video content and entertainment, mobile payment and banking, enterprise and telecom. Inside Secure’s technology protects solutions for a broad range of customers including service providers, operators, content distributors, security system integrators, device makers and semiconductor manufacturers. For more information, visit www.insidesecure.com
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