Subex reports Q4FY22 Results

30^th May 2022, BENGALURU, INDIA – Subex, a pioneer in the space of Digital Trust, today announced its consolidated financial results for the quarter and year ended March 31, 2022.

Performance Highlights for the quarter ended March 31, 2022 compared to the previous quarter ended December 31, 2021:

• Revenue for the period at INR 788 million as against INR 877 million for the quarter ended December 31, 2021
• EBITDA for the period at INR 10 million as against INR 80 million for the quarter ended December 31, 2021
• Profit after Tax (PAT) for the period at INR 6 million as against INR 21 million for the quarter ended December 31, 2021

Performance Highlights for the year ended March 31, 2022 compared to the year ended March 31 2021:

• Revenue for the year ended March 31, 2022 is at INR 3,334 million as against INR 3,720 million for the year ended March 31, 2021
• EBITDA for the year ended March 31, 2022 is at INR 351 million as against INR 985 million for the year ended March 31, 2021
• Profit after Tax (PAT) for the year ended March 31, 2022 is at INR 210 million as against INR 517 million for the year ended March 31, 2021

Vinod Kumar, Managing Director & CEO, Subex, said “FY22 has been a significant year in terms of evolving our portfolio to align with our growth aspirations. The financial results, which have been below our expectations, are not a true reflection of our progress across the last 12 months. HyperSense AI, our muti-persona AI/ML platform, has made its mark, and we are seeing excellent traction from customers. The platform has also received multiple accolades, as well as recognition from the media and analyst community.

With HyperSense, our core solutions have now been equipped with the power of AI/ML capabilities to enable CSPs to tackle challenges as they move towards newer technologies like 5G and IoT. Even though the transition to subscription-based engagements has taken more time for contracting than we originally anticipated, we have secured several contracts during the last quarter, resulting in a good increase in contracted bookings. We expect this trend to continue and hope to secure more important contracts during this quarter.

We have also made good progress in our new areas of Sectrio and IDcentral. Sectrio, our security solution, now covers OT Security in addition to IoT security. This has helped us play in a significantly large and growing market and add new customers across the banking, manufacturing, transport, and mining verticals. IDcentral, with the addition of key capabilities, has also attained product-market fit with over 1 Million API pulls from its customers.

While the transition from a license to a subscription model for our core products will come with short-term financial impact, we are confident that directionally it is the right thing to do. The swelling contracted backlog is a validation of that effect. During the course of FY23, along with migrating our existing customers onto our new platform, we intend to increase market share for our new solutions on HyperSense AI, as well as for Sectrio and IDcentral. Our vision is to enrich lives with AI-led Digital Trust, and we will focus our efforts to make it happen.”

Highlights of the Year

 Restructuring

• • Revenue maximization solutions around fraud management and revenue assurance moved to the parent company

• Launches
  • HyperSense, an end-to-end AI Orchestration platform

• Product Announcements
  • New patent to extent revenue maximization to the edge
  • Rebrand of IoT and OT Cybersecurity product as Sectrio

• Key Product Wins
  • Partner with Ethio Telecom to provide Business Assurance on HyperSense
  • Won a 5-year contract with Dhiraagu for integrated Revenue Assurance and Fraud Management
  • Partnered with Spire Solutions to secure a leading oil and gas company in the Middle East
  • Selected by European Operator for Signaling Security
  • Selected by a Africa-based telecom operator for Business Assurance
  • Partnered with a leading IoT solution provider for Business Assurance
  • Selected by APAC-based operator for Partner Ecosystem Management

• Other Announcements
  • Won the Pipeline Award for Innovation in Artificial Intelligence for HyperSense
  • Announced as a winner across two categories in the TM Forum Catalyst Awards 2021 for its work on the ‘Measurements of trust in AI environment’ and ‘5G Digital Marketplace – Phase II’ catalysts
  • Won the Business Intelligence Group’s AI Excellence award for HyperSense
  • Listed as Sample Vendor of Partner Ecosystem Management solutions in Gartner’s 10 Must-Have Capabilities for CSP Partner Ecosystems for Composable Products
  • Covered for Partner Ecosystem Management solutions for Juniper Research’s Data & Financial Clearing: Emerging Trends, Key Opportunities & Market Forecasts 2021-2022 report

About Subex

Subex is a pioneer in enabling Digital Trust for businesses across the globe.

Founded in 1994, Subex helps its customers maximize their revenues and profitability. With a legacy of having served the market through world-class solutions for business optimization 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 AI Orchestration 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 coding knowledge 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 has more than 300 installations across 90+ countries.

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