Mid-term financial targets
- Growth Target: To double revenue organically by the end of 2025.
- Profitability Target: Adjusted EBITDA breakeven by the end of 2023 and adjusted EBITDA margin of some 20% by 2025.
Financial outlook for 2023
Annual recurring revenue (ARR) for cloud products will grow by 28–34% from the end of 2022. At the end of 2022, cloud ARR was EUR 80.2 million.
Revenue from cloud products will grow by 28–34% from previous year. Previous year revenue from cloud products was EUR 68.7 million.
Total revenue of the group will grow by 12–20% from previous year. Previous year revenue was EUR 134.7 million.
Adjusted EBITDA will improve from previous year. Previous year’s Adjusted EBITDA (Estimated comparable EBITDA for two first quarters) was EUR -23.2 million. Adjusted EBITDA of fourth quarter of 2023 will be positive.
From a long-term perspective the objective of WithSecure's capital management is to achieve an efficient capital structure that ensures the functioning of business operations and promotes the increase of shareholder value.