WeDo sees revenue and EBITDA growth in 2013

Business assurance software provider WeDo Technologies hailed its “best year to date” for FY2013, generating revenue of €61.5m, a 12 per cent year on year increase on the €55.1m the previous year. EBITDA for the year was also up 36 per cent year on year, from €8.7m in 2012 to €11.8m in 2013, giving the firm an EBITDA margin of 20 per cent.

WeDo said that it won 20 customers in five new markets during the year as well as signing two global agreements with operator groups. At the end of the year, the vendor said it had 200 customers spanning 90 countries across five continents.

The firm added that it has expanded its scope beyond telcos and now has 31 customers in vertical industries outside of the telecoms space. Orders and revenues have grown by 71 per cent in the retail sector and 19 per cent in both energy and finance industries, the firm added.

Fernando Videira, CFO of WeDo Technologies, attributed the growth to the launch of the firm’s integrated revenue assurance and fraud management solution RAID 7, as well as its expansion into new markets and verticals.

“2013 was a big year for us,” he said. “This level of continued innovation, top line growth, as well as sustainable EBITDA growth, is evidence that WeDo will continue to gain market share and to be the biggest and most robust player in Revenue Assurance and Fraud Management software in the world,” he stated.

“WeDo will strive to achieve or even exceed its aim to become a $100 million company by 2015.”