News

Cuatroochenta
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experiences
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a
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24%
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growth
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in
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sales
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and
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a
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62%
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increase
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in
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EBITDA
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in
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the
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first
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of
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2024

BME Growth  ·  Investors  ·  Present
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The technology company, Cuatroochenta, continues to improve its organic performance, driven by recurring revenues and international expansion. Sofistic, its cybersecurity division, inaugurates new offices in Bogotá, strengthening its 24/7 SOC and bolstering its MDR service.

Cuatroochenta continues on its robust growth path in the first quarter of 2024, as reported in BME Growth. The technology company has achieved a 24% increase in turnover by March 31 compared to the corresponding period last year, reaching sales of 6.50 million euros. Simultaneously, it has enhanced its EBITDA by 62% to 0.61 million euros, resulting in a net income of 0.18 million euros over the same period.

«Our robust organic revenue growth has facilitated the achievement of EBITDA within just one quarter. Our primary focus remains on expanding into profitable markets. In this regard, we are delighted by the market's positive response to our Investors Day presentation of annual results»

Javier Rillo, CFO at Cuatroochenta

Continuing on our growth path from the 2023 results, Cuatroochenta maintained its upward momentum in recurring revenues during the first quarter of 2024, reaching 4.24 million euros by March 31, representing 72% of total revenue. The Annual Recurring Revenue (ARR), which comprises revenue generated through subscriptions, contracts, or renewable agreements, rose to 15.80 million euros, marking a 4% increase compared to December 31, 2023.

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recurring revenues

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Annual Recurring Revenue (ARR)

New office in Bogotá

Among these recurring revenues, Cuatroochenta's cybersecurity arm, Sofistic, plays a pivotal role, particularly with its operations in Latin America. In May, Sofistic inaugurates its latest office in Bogotá , situated within the Difransa Business Center in the El Nogal neighborhood. The opening will be celebrated with a special day dedicated to customers and partners. The new premises boast a revamped Security Operations Center (SOC), which, in conjunction with existing centers in Panama and Castelló, will enhance the advanced 24/7 detection and rapid response (MDR) services.


Sofistic's new office facilities in Bogotá (Colombia).

Cuatroochenta maintained its vigorous upward trajectory in the first quarter of 2024 and sustained enjoys a growth in recurring revenues.

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