Virtualware will uplist on Euronext Growth Paris on June 19, following market approval

Core Insights - Virtualware is set to uplist to Euronext Growth Paris on June 19, 2025, under the ticker ALVIR, following approval from the exchange's admission committee [1] - The uplisting aims to enhance market liquidity, diversify the investor base, and provide access to new financing instruments [1][3] - The company went public via a direct listing on Euronext Access in April 2023, with an initial valuation of €27 million [2] Financial Performance - Virtualware reported a 91% increase in full year 2024 EBITDA, reaching €808,000, while pre-tax profit surged 1712% to €598,000 [3] - The financial net debt to EBITDA ratio was 0.5 times at the end of 2024 [4] - Subscription-based services contributed 41% of total revenue, with VIROO XRaaS revenue growing from €590,555 in 2022 to €1,725,719 by the end of 2024, marking a 192% increase over two years [4] Market Position and Strategy - Virtualware has experienced a 35% increase in share value since its initial listing in 2023, with a current market capitalization of €36.79 million [6] - The company acquired Swedish firm Simumatik in October 2024, enhancing its capabilities in digital twin and simulation technologies, aligning with its three-year Strategic Plan [8] - The Strategic Plan includes expansion into North America and focuses on channel-based organic growth and inorganic acquisitions [8] Client Base and Industry Impact - Virtualware's client portfolio includes major companies and institutions such as GE Vernova, Petronas, Volvo, and various universities and government entities [7] - The company is recognized as a leader in immersive and 3D technology solutions, responding to the growing global demand for real-time 3D enterprise solutions [2][7]