Verimatrix Announces Q1 2021 Revenue

Regulatory News:

Verimatrix (Paris:VMX) (Euronext Paris: VMX), is today reporting its consolidated (IFRS) revenue for the first quarter period ended March 31, 2021.

(in US$ million)		Q1-2021		Q1-2020		Q1 2021 vs. Q1 2020
Recurring revenue		11.4

13.9

-18%

of which subscriptions

1.4

1.1

23%

Non-recurring revenue

8.7

6.1

41%

    Total revenue

20.1

20.0

0%

  Annual Recurring Revenue¹ (end of period)

9.7

6.2

56%

Commenting on the first quarter, Amedeo D’Angelo, Chairman and Chief Executive Officer of Verimatrix, stated: “In the first quarter of 2021, Verimatrix delivered stable revenue despite headwinds in royalties in the context of Covid-19 and the short-term impact of the transition to our subscription business including for SaaS implementations. During the quarter, we saw good momentum in signing new licenses in general and were able to regain part of the new licenses that had been delayed in the fourth quarter of 2020 in particular. Although the context remains volatile, we see it improving for our customers, giving us the confidence that we are well on track to achieve our annual objectives. At the same time, we continue to expand our Cloud-based offerings, as examplified with the release of the Verimatrix Multi-DRM Core service earlier in April 2021.”