NFON AG, a leading European provider of integrated cloud business communications, has exceeded expectations in the first half of 2023 and has consequently raised its earnings forecast for the year. The company experienced positive performance in terms of revenue and earnings, driven by successful new customer acquisition and an increase in the number of installed seats within the existing customer base.
During the first half of 2023, NFON achieved a 5.1% increase in recurring revenue, reaching EUR 38.4 million compared to EUR 36.5 million in the previous year. Total revenue also saw a modest growth of 2.7% to EUR 41.2 million. A significant portion of the revenue growth came from sales of the expanded product portfolio, particularly among both new and existing customers. NFON’s focus on profitability was reflected in its earnings performance, with adjusted EBITDA improving significantly from EUR -1.5 million in the previous year to EUR 3.4 million in the first half of 2023.
The company’s commitment to delivering excellent solutions for integrated cloud business communications is evidenced by the growth in the number of seats installed with customers. In the first half of 2023, the number of seats increased by 5.1% to 640,573, reflecting high levels of customer satisfaction and the growing demand for cloud telephony systems among business customers.
Looking ahead, NFON aims to build on its operational excellence and continue its growth trajectory. The company plans to focus on three strategic growth pillars: innovative product development, sales excellence, and stronger partnerships. Patrik Heider, CEO of NFON, expressed his satisfaction with the company’s performance thus far and believes that NFON is well on its way to solidifying its position as a cloud pioneer.
Based on the positive business performance and optimistic outlook, NFON has decided to raise its adjusted EBITDA forecast for 2023. The company now projects adjusted EBITDA between EUR 6 million and EUR 7 million for the fiscal year. The revised forecast does not impact the projections for other key performance indicators.
NFON’s full 2023 half-year report is available for download on its website. As a leading provider of integrated cloud business communications, NFON aims to guide companies into the future with its intuitive communication solutions.
