Nfon’s strategic realignment facilitated a 5.3% increase in recurring revenues to €19.3m in the first quarter of 2023. Recurring revenues now account for 93.1% of total revenues.
This was spurred by the acquisition of new customers and an increase in seats within the company’s current customer base. With seat growth of 6.6%, the number of extensions installed at customers increased to 645,582 in the first quarter of 2023.
The company placed a strategic focus on the profitable monetisation of the investments it made in the product portfolio and the partner network in the past year and saw adjusted EBITDA grow from €0.5m in the previous year to €2.0 million in the first quarter of 2023.
CEO for the quarter Dr. Klaus von Rottkay (pictured) said: “This is only the beginning of a sustainably profitable development of the company under the leadership of the new CEO Patrik Heider.”
Heider will take over from von Rottkay as Chairman of the NFON Management Board in the second quarter of 2023.