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Verimatrix sees steady business flow

April 30, 2021 12.39 Europe/London By Chris Dziadul

Verimatrix has posted revenues of €20.1 million for the first quarter, virtually unchanged on the same period last year.

In its latest set of results the company says it saw a steady flow of business for its conditional access solutions, in particular its CCAS broadcast security for on premise implementation, during the quarter. It also commercially launched six customers on the new Multi-DRM Core cloud native solution. Recurring revenues in Q1 were €11.4 million (-18%), of which subscriptions accounted for €1.4 million (+23%). Non revenues were €8.7 million (+41%).

Commenting on the results, Amedeo D’Angelo, chairman and CEO of Verimatrix, said: “In the first quarter of 2021, Verimatrix delivered stable revenue despite headwinds in royalties in the context of Covid-19 and the short-term impact of the transition to our subscription business including for SaaS implementations. During the quarter, we saw good momentum in signing new licenses in general and were able to regain part of the new licenses that had been delayed in the fourth quarter of 2020 in particular. Although the context remains volatile, we see it improving for our customers, giving us the confidence that we are well on track to achieve our annual objectives. At the same time, we continue to expand our Cloud-based offerings, as exemplified with the release of the Verimatrix Multi-DRM Core service earlier in April 2021”.

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Related

Filed Under: Conditional Access/Security, Newsline, Tech Tagged With: Verimatrix Edited: 30 April 2021 12:45

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About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

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