Thursday 31st October, Nicosia: ISX Financial EU PLC ("ISX Plc"), is pleased to present its earnings for Q3 2024. Building on the back of an impressive Q1 24 and Q2 24, ISX Plc is proud to have delivered a record breaking quarter, marking a continuation of its upward trajectory and solidifying its position as a leader in both 'banktech' and 'regtech' sectors.
Strong Revenue Growth
ISX Plc reported an impressive 71% year-over-year increase in revenue, complemented by a steady 3% rise quarter-over-quarter. In addition, the company’s net assets surged by 143% compared to Q3 2023, with a 23% increase over the previous quarter.
New Records Achieved
July marked a milestone for ISX Plc with revenue reaching a record high of €5.2 million. Additionally, Q3 transaction volumes exceeded €1 billion, a testament to the company’s growth and operational momentum.
Ajay Treon, Chief Financial Officer of ISX Plc, commented on the results: "ISX Financial’s Q3 2024, has been a quarter of impressive progress and milestones, marked by our July revenue record and surpassing €1 billion in transaction volumes for the first time. Additionally, we saw strong growth in client funds, reflecting our deepening commitment to supporting and advancing our clients' ambitions."
Financial Resilience
ISX Plc continues to showcase its strength with an EBITDA margin of 55%, maintaining a robust financial position. This resilience underpins the company’s stability in the highly competitive banktech payments market.
Investment in Innovation
Demonstrating its commitment to staying at the forefront of technological advancements, ISX Plc invested €0.7 million in Research and Development during Q3. These strategic investments ensure the continued delivery of cutting-edge, customer-centric solutions.
Expansion in Talent
To support its ongoing expansion, ISX Plc has grown its workforce by 22% in 2024, bringing its total headcount to 180 employees. This investment in talent reinforces the company’s capability to meet increasing market demand and sustain growth.
Looking Ahead
With its eye on the future, ISX Plc remains focused on reaching its ambitious revenue target of €50 million for 2024. The company has also revised its EBITDA margin forecast upward, now expecting a range of 40-45%, driven by strong performance and strategic execution.
ISX Plc is well-positioned to continue building on its momentum as it closes out 2024, pursuing further growth through strategic investments, product innovation, and a commitment to meeting its clients' evolving needs.
Nikogiannis Karantzis, Chief Executive Officer of ISX Plc, added:
"These results highlight the strength of our business model and the dedication of our team. We remain committed to driving sustainable growth through innovation, operational excellence, and an unwavering focus on our clients' success."
You can view the full ISX Financial EU PLC Q3 2024 earnings by clicking the "Q3 Report" button below: