Netgem unveiled its 2022 annual results on Friday, marked by a positive trend in all its financial indicators, a performance that was hailed this morning on the Paris Bourse.

The digital entertainment video platform reported an operating loss of 2.2 million euros for the year just ended, compared with -3.7 million for the previous year.

The company, which says it benefited from tight control of operating costs, posted a net profit attributable to equity holders of the parent of 0.1 million euros, compared with a loss of 1.3 million in 2021.

Boosted by growth in the number of subscribers, sales rose by 28% to 36.3 million euros, while gross profit increased by 14% to 20.1 million euros.

For 2023, the company says it anticipates growth in recurring billings (ARR) of over 20% in 2023, with cash flow from the growing subscriber base sufficient to finance its growth.

"After a good 2022 and excellent 2023 prospects, the sale of our fiber business gives us the means to accelerate this virtuous circle", emphasized Mathias Hautefort, its CEO.

As announced at the end of January 2023, Netgem has decided to proceed with the sale of its fiber business, which will be effective on April 1, 2023, with a positive effect of three million euros on cash flow.

Following these reassuring developments, Netgem's share price rose by 2.2% around 11:45 a.m. on Friday.

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