Facephi Ends 2024 Strong with Double-Digit Growth Across Key Metrics: TCV, ARR, Turnover and Ebitda

Core Insights - Facephi Biometría, SA reported strong financial results for fiscal year 2024, showcasing double-digit growth across key metrics including Total Contract Value (TCV), Annual Recurring Revenue (ARR), net turnover, and normalized EBITDA [2][4][8] Financial Performance - Total Contract Value (TCV) increased to €57.8 million in 2024, reflecting a growth of 49.5% compared to €38.6 million in 2023 [3][8] - Annual Recurring Revenue (ARR) rose to €28.0 million, marking a 28.5% increase from €21.8 million in the previous year [3][8] - Net turnover reached €28.9 million, a 14.8% year-over-year growth from €25.1 million in 2023 [3][8] - Normalized EBITDA improved to €1.0 million, up 10.4% from €0.9 million in 2023 [3][8] - Cash flow showed significant improvement, moving from -€9.0 million in 2023 to -€4.6 million in 2024, a 48.3% enhancement [3][8] - Net bank debt decreased by 55.0%, from €10.0 million in 2023 to €4.5 million in 2024, with the NBD/turnover ratio dropping from 40.0% to 15.6% [3][8] Strategic Initiatives - The company launched new products and services in 2024, including Behavioral Biometrics, Mule Account Detection, and the IDV Suite for identity verification [6][8] - Facephi expanded its geographical presence into new markets such as Iraq, Jordan, Pakistan, Poland, Saudi Arabia, South Africa, and Uganda, while also strengthening its position in Canada and the U.S. through partnerships [6][8] - The company increased its reach into key sectors including gaming, cryptocurrency, hospitality, and travel, exemplified by a partnership with IATA for fully digital air travel [7][8] Future Outlook - The CEO emphasized the company's commitment to continuous innovation and sustained growth, positioning Facephi for accelerated growth and stronger cash flow in 2025 and beyond [4][5][9]