Tesserent posts 115% full-year net profit growth – Growth

Cybersecurity and cloud solutions provider Tesserent welcomed growth in net profit for the full fiscal year ending in 2022.

For its full year, the company posted EBITDA of $16.3 million, a growth of 115% and revenue of $163 million, a jump of 69% over the previous year.

This overall growth includes both organic growth and growth through acquisitions, according to the company.

The group announced continued strong growth in the underlying business in the fourth quarter, with year-on-year growth of 50% compared to the comparative quarter of the previous year.

Strong revenue and profit growth for the fourth quarter, including strong cash flow from operations, was $11.1 million. Group cash was $14.5 million as of June 30, 2022.

Overall EBITDAC (Earnings Before Overhead Expenses) growth was 59% for the current quarter and 89% for the full fiscal year of FY22 compared to the prior year.

The group reported positive operating cash flow in the fourth quarter of FY22 of $11.1 million, driven by favorable movements in net working capital, the company said. The investment in net working capital, which had increased in the third quarter, unwound in the fourth quarter of FY22.

Earlier this month, George Katavic was promoted to managing partner of Tesserent Federal, which is completing the integration of the North, Claricent and Pearson businesses.

Tesserent Federal is now the largest provider of cybersecurity consulting services to the federal government.

The group has had excellent results in driving cross-selling initiatives with skilled sales teams to identify security risks in customer environments that can be mitigated through the provision of consulting services and critical controls of Tesserent.

At the end of June 2022, the group had 459 employees, having recruited an additional 55 employees (net) during the current quarter and 151 employees during FY22.

The business remains focused on recruiting and retaining key talent to continue to provide an exceptional level of customer service to our customers, while continuing to expand our coverage in all aspects of Cyber ​​360 delivery to the market. .