Tecnotree Announces Encouraging Results in the First Quarter of 2022
HELSINKI, April 29, 2022 /PRNewswire/ -- Tecnotree the only full stack digital Business Support Solution player for communication and digital service providers, with deep domain knowledge and proven delivery capabilities across the globe announced a revenue growth of 18.7%, resulting in a revenue of EUR 13.3 million for the quarter and high market traction for its digital offerings with a robust order book position of EUR 64 million in Q1. With an increasing momentum on 5G roll-outs around the world, Tecnotree saw exceptional growth in revenue from APAC and MEA regions.
Key Q1 Highlights of the financial results:
Padma Ravichander, CEO of Tecnotree Corporation, said, 'We continue to perform well in a challenging environment with our products witnessing continuous confidence from our customers. We have made significant strides in the first quarter and are pleased with the strong performance we're achieving in MEA and APAC region despite the inflationary impact on cost. With the growth of 5G roll outs around the world we are focused on investing in technology leadership to strengthen the long-term competitiveness of our Digital Stack that is well positioned to drive value and efficiencies at scale and maintain strong results throughout 2022 and beyond.'
Other Company Highlights in the Quarter:
Tecnotree is a full-stack digital business management solution provider for the telecom industry. Our comprehensive portfolio of open-source technology solutions spans business processes, and subscription management services, enabling large-scale digital transformation for telecom players and Digital Service Providers.
Tecnotree's products and solutions are designed for innovation across existing and emerging technologies. They empower communications service providers to monetize service bundles for personalized user experiences. Listed on the NASDAQ Helsinki with the trading code TEM1V, Tecnotree's products supporting ecosystems of over 800 million subscribers worldwide.
For more information, please visit www.tecnotree.com or social media channels – LinkedIn I Facebook I Twitter
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