Q1 2025 Trifork Group AG Earnings Call Transcript
Key Points
- Trifork Group AG (OCSE:TRIFOR) reported a 14.1% revenue growth in Q1 2025, marking the highest revenue in a single quarter in the company's history.
- The company is successfully transitioning towards a product-led business model, focusing on scalable revenue from its 'Run' component, which reached a record high of 32.2% of total revenue.
- Trifork Group AG has secured significant contracts in Denmark's public sector and initiated digital health engagements in Oman, expanding its geographical footprint.
- The company is actively developing new products, such as the Corax AI platform and Iris communication platform, which are gaining traction in the market.
- Trifork Group AG is maintaining strong partnerships with major tech companies like SAP, Apple, NVIDIA, and Lenovo, enhancing its market position and product offerings.
- The company is experiencing high employee churn due to its ongoing transformation from a service to a product-led business model.
- Trifork Group AG's Q1 2025 EBITDA margin was 12.8%, which was not significantly impacted by cost savings, indicating potential challenges in achieving higher profitability.
- The company faces reluctance in deal closures in the U.S. market, which could impact future revenue growth.
- There is a noted delay in decision-making cycles among private sector clients, which may affect the company's short-term project pipeline.
- Trifork Group AG's U.K. revenue has been significantly impacted by customer downscaling, and the company is currently at a low point in this market, requiring strategic efforts to rebuild.
Welcome to the presentation of Trifork's First Quarter Results for 2025. My name is Frederik Svanholm, Group Investment Director at Trifork. And today, our CEO, Jorn Larsen; and our CFO, Kristian Wulf-Andersen, will be providing a presentation of approximately 40 minutes, followed by Q&A. Before we start, I would like to say that the presentation will be recorded and it's made available in its full length on our investor web page. (Event Instructions)
Let's jump to the presentation, and I now hand over to our Group CEO, Jorn Larsen.
Thank you, Fred, and thank you, everyone, for taking your time to listen to this call. And I'm looking forward for the questions at the end. But first, we have our presentation of Q1 '25. So overall, we started the year on a good pace. And we make this slide here where we illustrate one of our products in action.
And the headline we put here is Good progress towards a product-led future'.
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