Cuatroochenta has improved its growth rate in the first quarter of 2023 according to the results published today in BME Growth. The technology company reported a 31% increase in net revenue as of March 31, 2023 compared to the previous year, for a total of €5.25 million. Furthermore, recurrent EBITDA has grown by 53%, up to 380,000 euros, over the same period.
Thus, Cuatroochenta is still on track to meet its targets, displaying once again its capacity for organic growth, 24% larger than in 2022, and maintaining the focus on scalable products and services that generate a significant recurrence, under the SaaS (software as a service) and MSSP (managed security services provider) models. Thus, ARR (annual recurring revenue) at March 31 amounted to 12.36 million euros.
1Q 2023 results (pro forma)
Strong positioning in the airline industry
The products and services generating recurring revenues for Cuatroochenta include its cybersecurity division, Sofistic, one of the leaders in its field in Latin America (especially in Colombia, Panama, Costa Rica and Dominican Republic, where it has its own offices and personnel), with important clients in critical infrastructures and financial entities.
Strategic airports and airlines in Latin America, such as El Dorado in Bogotá and Copa Airlines in Panama, stand out as critical infrastructures secured by Sofistic. Leveraging its knowledge and experience, the company has organized a #EnModoAvión thematic talk on cybersecurity with the participation of key players in the airline industry in Panama in September.
A strategy that is supported, as a leading partner, by the main manufacturers of cybersecurity software (CrowdStrike, Darktrace, Exabeam) along with Microsoft. Within its new Microsoft Cloud Partners program, which has increased the standards and skills set required, Sofistic has just been certified for its capability in security and managing the modern workplace, "putting on record its technical capabilities and experience to generate successful client outcomes".