Tecnotree Corporation reported positive free cash flow for the second quarter of 2024, maintaining revenue growth. The company executed a reverse stock split in April 2024 and incurred one-time expenses related to asset sales and impairments. For 2024, Tecnotree anticipates free cash flow of EUR 2-5 million in the second half, a 2%-7% increase in revenue, and a 7%-15% rise in operating profit compared to 2023. The company is focusing on increasing license sales and evolving its delivery model to ensure more predictable revenue. In the second quarter, Tecnotree's revenue grew by 15% from the previous quarter to EUR 18.7 million. The first half revenue in constant currency terms was EUR 40.8 million, with stable real currency revenue of EUR 34.9 million. The company added six new customers and announced strategic partnerships with Bytedance, HCLTech, and Emirates Integrated Telecommunications Company. Cost optimization efforts have reduced operating expenses to 66% of revenue, down from 70% in 2023. Headcount reductions and other cost-saving measures are expected to save EUR 4.5 million in the second half of 2024 and EUR 7 million in 2025. The adjusted operating result for the first half increased by 10.7% to EUR 10.9 million. Tecnotree managed to reduce exchange losses and reported a positive free cash flow of EUR 0.8 million in the second quarter. Collections improved significantly, reducing the accounts receivable balance by 10.6%. The order book for the first half increased by 6.1% to EUR 72.6 million, driven by demand for digital transformation projects and fintech solutions. Tecnotree received several industry recognitions, including mentions in Gartner reports and being a finalist in the TMForum 2024 Excellence Awards. The company remains focused on stabilizing revenue growth, optimizing costs, increasing receivables collection, and ensuring consistent positive operational cash flow in the second half of 2024. Board members have agreed to a fee reduction to support cost reduction initiatives.

Tecnotree Corporation announced on 9 August 2024 that its Board of Directors has unanimously decided to reduce their remuneration by 35%. This decision is part of the company's broader strategic measures to optimize global costs. Tecnotree is a 5G-ready digital Business Support System (BSS) provider with AI/ML capabilities and multi-cloud extensibility. The company is ranked No.1 on the TM Forum Open API Conformance table with 59 Open APIs. Tecnotree offers a comprehensive Digital BSS Stack for telecom and digital services industries, as well as Fintech and B2B2X digital marketplace services through its Tecnotree Moments platform. Tecnotree is listed on Helsinki Nasdaq (TEM1V). For more information, visit www.tecnotree.com.

Tecnotree Corporation announced that its Board of Directors decided on a directed share issue on June 13, 2024, aimed at recruitment, retention, and incentives. On July 1, 2024, 39,715 Tecnotree shares were issued and conveyed without consideration to employees and key persons. This decision was based on authorization from the Annual General Meeting of Shareholders on April 15, 2024. Following the transfers, Tecnotree holds 1,100,227 treasury shares. Tecnotree is a 5G-ready digital Business Support System provider with AI/ML capabilities, listed on Helsinki Nasdaq. For further information, contact CFO Indiresh Vivekananda at +971 56 410 8357.

Tecnotree Corporation announced the registration of 1,100,000 new shares with the Trade Register on 24 June 2024, increasing the total number of shares to 17,053,250, of which 1,139,942 are held by the company. These new shares will begin trading on Nasdaq Helsinki on or about 25 June 2024. Tecnotree specializes in 5G-ready digital Business Support Systems with AI/ML capabilities and multi-cloud extensibility. The company is recognized as No.1 on the TM Forum Open API Conformance table with 59 Open APIs. Tecnotree offers a comprehensive Digital BSS Stack for telecom and digital services industries and provides a Fintech and B2B2X digital marketplace through its Tecnotree Moments platform. Tecnotree is listed on Helsinki Nasdaq (TEM1V). For more information, visit their website or social media channels.

Senior manager at Tecnotree Oyj, Ramaseshan Subramanian, has disclosed a series of share disposals on the NASDAQ Helsinki Ltd. The transactions occurred on May 8, 2024, and involved various volumes of shares at different prices, with a total volume of 10,937 shares and a volume-weighted average price of 5.39347 EUR. Tecnotree is a 5G-ready digital Business Support System (BSS) player with AI/ML capabilities and multi-cloud extensibility, and is listed on the Helsinki Nasdaq.

On 19 April 2024, Tecnotree Corporation executed a reverse share split, a directed share issue without consideration, redemption of shares, and cancellation of shares. The new number of shares in the company is 15,953,250, and trading with the merged shares will commence on 22 April 2024 with a new ISIN code. The reverse share split means that each 20 shares of the company will be merged into one share. The company also issued a total of 108,794 new shares without consideration, making the number of shares in each shareholder's book-entry account divisible by 20. This action aims to increase the value of an individual share, promote efficient share price formation, and enable the issuance of dividends. Adjustments were also made to the company’s options, convertible debentures, and warrants. Tecnotree is a 5G-ready digital Business Support System player listed on the Helsinki Nasdaq.