BROADPEAK SA: Publication by Broadpeak of its first-quarter 2024 revenue

Publication by Broadpeak of its first-quarter 2024 revenue

• Revenue of €7.2m over the period, up 1.5%
• Highly favourable product mix with 21% growth in revenue excluding equipments
• New signings with top-tier players: BT Group, Deutsche Telekom and TF1
• Continued focus on cash generation and cost control

Cesson-Sévigné (France), 29 April 2024

Broadpeak (ISIN: FR001400AJZ7 – Ticker: ALBPK), a leading provider of video streaming software solutions, is reporting its first-quarter 2024 revenue.

At 31 March 2024, Group revenue totalled €7.2m, up 1.5% compared with the same period in 2023. Excluding a slightly positive currency effect, growth at constant exchange rates[1] was +1.2%.

The business mix continues to trend favourably, with a sharp increase in the contribution of Licences & Services and Maintenance & SaaS revenue, which accounted for more than 90% of revenue over the period and increased 21.1%.  Equipment sales (servers, routers, etc.), which contribute less to gross margin, continued to decline.

By geographic region, revenue rose 14.2% in EMEA (Europe, Middle East & Africa) to €3.6m. Revenue in the Americas increased 83.1% to €3.1m owing to favourable comparatives. In APAC (Asia-Pacific), after very strong growth in 2023 (+23.6%), sales fell sharply in the first quarter of 2024 (-80.4%, to €0.4m). This quarterly change is not significant in terms of the annual trend in APAC, which is expected to remain positive.

New innovations rewarded

TF1 selects Broadpeak’s SaaS platform

With visibility still low on the economy and the activity sector, Broadpeak is pursuing its proactive strategy on technology and sales.

Regarding innovation, at the latest edition of the NAB Show in Las Vegas, a global exhibition for media, entertainment and tech companies, Broadpeak’s Click2 technology won two awards: Best Product of the Year (Streaming category) and the prestigious IABM BaM Award® (Monetization category). Launched in early April, this breakthrough innovation enhanced the Dynamic Ad Insertion app of the SaaS platform, improving advertising targeting and providing unprecedented interactivity.

In sales terms, the Group strengthened its positioning through new signings with top-tier businesses. After BT Group, which in March announced the deployment of Broadpeak’s Multicast ABR solution in the United Kingdom, Deutsche Telekom recently announced the roll-out in Germany of the Cloud PVR offering for its 4.6 million subscribers to the Magenta TV platform (Press release of 24 April 2024).

The Group is also today announcing a major agreement with TF1 (press release of 29 April 2024), which has chosen the SaaS platform (broadpeak.io) and its Dynamic Ad Insertion solution for its new video streaming service, TF1+. The platform will ensure the optimal monetisation of live segmented television for the French television leader through the insertion of targeted advertisements.

Financial targets for 2024 confirmed

These recent technological and commercial advances strengthen the outlook for full-year revenue growth consistent with the target set by Broadpeak in its annual results.

At the same time, the Group continues to roll out its savings plan focused on fixed costs, particularly expenses related to  external services.

A firm policy is also being pursued to limit customer payment delays. In this context, Broadpeak renews its objective of achieving a positive Free Cash Flow in 2024.

Upcoming events:

• 2024 half-year Revenues : 24 July 2024, after market close
• 2024 half-year Results : 26 September 2024, after market close

CONTACTS

Broadpeak, S.A., 3771 boulevard des Alliés,

35 510 Cesson-Sévigné, France

VAT Number FR49 524 473 063 – SIREN 524 473 063

Tel: +33 (0)2 22 74 03 50

www.broadpeak.tv

Disclaimer

This press release contains statements that are not historical facts, including, but not limited to, statements regarding future results and other future events. These statements are based on the current vision and assumptions of Broadpeak's management. They involve known and unknown risks and uncertainties that could cause actual results, profitability or events to differ materially from those anticipated. In addition, Broadpeak, its shareholders and its respective affiliates, directors, officers, boards and employees have not verified the accuracy of, and make no representations or warranties regarding, any statistical information or forward-looking information contained in this release that originates or is derived from third-party sources or industry publications. Such statistical data and forward-looking information are used in this press release for information purposes only.

About Broadpeak

Since its creation, Broadpeak has grown with a sole purpose in mind: to roll out software solutions worldwide streaming content that people love with a compelling quality of experience. These solutions target the world's leading players, including large TV and telecom operators and global broadcasting platforms (OTTs), as well as new media in the corporate, sports and entertainment segments. At the end of 2022, Broadpeak had 150 customers across 50 countries, representing 200 million spectators worldwide These include leading players such as Bouygues Telecom, Orange, Telecom Italia, Deutsche Telekom, BT Group, HBO, Mola TV, StarHub TV+ and Megacable. Broadpeak has more than 320 employees in 23 countries. The company is mainly based in France (head office in Cesson Sévigné near Rennes) but is also present in the United States (Denver), Canada (Ottawa), Brazil (Sao Paulo), Singapore and Dubai. Broadpeak generates approximately 90% of its revenue internationally.

[1] At the average exchange rate recorded on sales in fiscal 2023.