Economia
TextMagic AS 2024 6 months consolidated unaudited interim report
In the first half year of 2024, the TextMagic Group's operating profit increased by 28% to €1,139 thousand compared to the same period in 2023 (H1 2023: €887 thousand). The net profit amounted to €1,287 (H1 2023: €757 thousand). The Group's day-to-day operations will continue along the roadmap set at the end of 2023, with the main objective of developing and expanding the Textmagic platform and restoring the growth rate.
TextMagic Group has assessed the evolving regulatory environment, market trends, competitive landscape and customer needs in order to develop strategic growth plans. To achieve sustainable growth, we are committed to continued investment in software development, which is why we have expanded our product development teams.
As of June 30, 2024, the team consisted of 91 individuals (111 as of June 30, 2023), of whom 48 (27 as of June 30, 2023) were part of the Textmagic platform development team. The Voog.com platform development team comprises 6 members as of the end of June 2024 (3 as of June 30, 2023). In addition to this core team, the group also includes a marketing department, user support, a finance team, and management.
In today's competitive market, it is increasingly challenging to drive growth with SMS-only product offerings. To enhance the appeal of our Textmagic platform to new audiences, we have identified the need to extend the value proposition of the product in 2024.
In March 2024, a BYOC (Bring Your Own CPaaS) solution was launched for high-volume customers who prefer the convenience of the Textmagic platform but wish to remain with their current communications provider.
Textmagic platforms's communication channel functionality (Chat AI), checklists, as well as user and task management have been enhanced. Additional communication channels (Email, Messenger, Live Chat, WhatsApp) and functionalities (Tickets, Deals, CRM) are in development. The added functionalities, along with the projects under development will provide an opportunity to increase the value proposition and customer base of the product in the future.
Group unaudited key figures of 2024 6 months
Textmagic SMS platform's sales results
* An active user is any unique paying customer who has used Textmagic SMS platform services during the reporting period.
**ARPU is calculated as Unaudited revenue / Active users.
Textmagic platform's revenue distribution is similar to last year, with minor variations across major regions. The US and Canadian markets collectively represent the majority of revenues at 65% (H1 2023: 67%). The UK market has grown to account for 24% (H1 2023: 22%). The Australian market has remained consistent at 6% of sales, while the European Union accounts for 3%. All other regions contribute the remaining 2% of sales in both periods.
TextMagic AS's consolidated unaudited interim report for the 6 months of 2024 is attached to the release in PDF format.
Additional information:
Getter Grünmann
TextMagic AS, CFO
investor@textmagic.biz
https://investor.textmagic.com/
CONSOLIDATED UNAUDITED INTERIM FINANCIAL STATEMENTS FOR 6 MONTHS OF 2024
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
CONSOLIDATED STATEMENT OF CASH FLOWS
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
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