The quarter also marks the company’s entry into oil & gas vertical with a key win
AUGUST 9th 2021, BENGALURU, INDIA – Subex, a pioneer in the space of Digital Trust, today announced its consolidated financial results for the first quarter of 2021.
Performance Highlights for the quarter ended June, 2021:
- Revenue for the quarter at INR 806 million as against INR 887 million in Q1FY21.
- EBIDTA for the quarter at INR162million as against INR 296 million in Q1FY21
- Profit after Tax (PAT) for the quarter at INR135million as against INR 152 million in Q1FY21
Commenting on the results, Vinod Kumar, Managing Director & CEO, Subex, said:
“Businesses are still coming to terms with the uncertainty brought in by the second wave of COVID-19, and this has had some bearing on our ability to deliver projects as several Subexians were infected during Q1. Even though the project delivery delays had negatively impacted our Q1 revenues, we will be able to get to our growth targets in the coming quarters.
At Subex, our focus has been on fostering sustainable innovation translating into a profitable portfolio that is future proof. Towards this we launched HyperSense which is a no-code AI platform that enables enterprises to achieve accelerated growth through AI. It was very well received by the market, and we are in advanced stages of engagement with multiple operators. Additionally, we have also witnessed some notable wins for our newer offerings of IoT/OT Security and Identity Analytics. With markets fully opening in many geographies, many new projects that were put on hold due to pandemic have been reinitiated. All these will result in increased opportunities and therefore growth in coming quarters.”
Highlights of the Quarter
- Subex launched HyperSense to scale up AI offering for the next phase of growth.
- Subex Secure and Spire Solutions entered a strategic partnership and won a project to secure a leading oil and gas company in the Middle East
- A Middle East operator partnered with Subex for a multi-million-dollar Capacity Management deal.
- Subex partnered with Snowflake to bring the power of AI-driven augmented analytics to customers.
- Subex Inc. received loan waiver from US Govt. under Paycheck Protection Program
About Subex
Subex is a pioneer in enabling Digital Trust for businesses across the globe. Founded in 1994, Subex helps its customers maximise their revenues and profitability. With a legacy of having served the market through world-class solutions for business optimisation and analytics, Subex is now leading the way by enabling all-round Digital Trust in the business ecosystems of its customers. Focusing on risk mitigation, security, predictability and intelligence, Subex helps businesses embrace disruptive changes and succeed with confidence in creating a secure digital world for their customers.
Through HyperSense, an end-to-end augmented analytics platform, Subex empowers communications service providers and enterprise customers to make faster, better decisions by leveraging Artificial Intelligence (AI) analytics across the data value chain. The solution allows users without a knowledge of coding to easily aggregate data from disparate sources, turn data into insights by building, interpreting and tuning AI models, and effortlessly share their findings across the organisation, all on a no-code platform.
Subex also offers scalable Managed Services and Business Consulting services. Subex has more than 300 installations across 90+ countries. For more information, visit www.subex.com/
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