By Stephanie
26 Jul 2023

Full year revenue 2022/23

Sub Heading
Turnover at 192.0 M€, growing +47%
Organic growth of +44% (at constant exchange rate and on a like-for-like basis)

Paragon ID publishes its revenues for the 4th quarter 2022/2023 (1st April 2022 – 30th June 2023).

In the 4th quarter of its 2022/23 financial year (ending 30 June 2023), Paragon ID posted consolidated sales of €51.0m, an increase of +29%. At constant exchange rate and on a like-for-like basis, organic growth for the quarter was +28%.

By the end of the 2022/23 financial year, consolidated sales had risen by +47% to €192.0m, of which +44% on a like-for-like basis.

This level of activity is in line with the annual sales target which was raised at the end of April to €185m+.

Double-digit growth across all divisions in 2022/23

The Transport & Smart Cities division (36% of 2022/23 revenues) recorded sustained annual growth of +44%. This growth is the result of the return of passengers to urban transport in all geographical areas following the end of the Covid-19 health crisis, price increases passed on to customers to compensate for the inflation in production costs, and the successful integration of EDM Technology in the United States.

Digital mobile ticketing platforms and MaaS (Mobility as a Service) offerings continued to develop in 2022/23, generating new sources of recurring revenue, albeit at a slower pace than expected.

The Traceability & Brand Protection division (33% of 2022/23 revenues) achieved growth of +44% in 2022/23, marked by sustained activities in the aviation sector. The growth of other activities in IoT Press Release - 26 july 2023 – 6.00 pm - 2 - (Internet of Things) was slowed down by economic uncertainties and difficulties encountered in supply chains within the Retail sector.

The Payment division (17% of 2022/23 revenues) recorded growth of +14% in 2022/23. This solid growth is the result of good momentum in traditional sales of gift, loyalty and payment cards, as well as RFID modules for contactless payment and AmaTech licence revenues for contactless metal payment cards. The marketing of proprietary metal payment cards began in 2022/23 and will contribute more significantly to the division's sales in 2023/24.

e-ID sales (14% of 2022/23 revenues), accelerated in the 2 nd half of the year, with the first deliveries of eDatapages for passports and ID cards following the large orders received at the end of 2022 for these polycarbonate solutions. Over the year, the division recorded growth of +91%.

The yearly results and Q1 turnover will be published on the 25th of October 2023. 

To read the full PR, visit our Financial Releases page.