LONDON–(BUSINESS WIRE)–Behavox, the AI insights company that transforms structured and unstructured corporate data into actionable intelligence, today announced the publication of its 2024 audited financial statements, reporting $2.5 million in net profit – marking the first year of audited bottom-line profitability in the company’s history.
|
|
FY 2024, $M |
FY 2023, $M |
% |
|
Total Gross revenue |
$35.6 |
$25.9 |
37.5% |
|
Total Cost of Sales |
-$7.8 |
-$5.6 |
39.1% |
|
Gross profit |
$27.8 |
$20.3 |
37.0% |
|
Profit before tax |
$0.6 |
-$7.3 |
107.8% |
|
Net profit |
$2.5 |
-$11.7 |
121.3% |
Erkin Adylov, Founder and CEO of Behavox, commented:
“Building a profitable, sustainable business has always been our focus. Behavox is a trusted partner to many systemically important financial institutions, who expect reliability, long-term stability, and financial transparency from their counterparties. Achieving audited bottom-line profitability is a significant milestone that reinforces our position as a stable and dependable partner.”
Since 2020, Behavox has undergone rigorous annual audits by independent accounting firms, reaffirming its commitment to the highest standards of financial transparency and governance. The completion of a fifth consecutive audit reflects the company’s unwavering dedication to operational discipline and accountability.
The company’s financial strength comes at a critical time for the industry, as ongoing market volatility raises concerns about the financial viability of many vendors.
Nabeel Ebrahim, Chief Revenue Officer at Behavox, added:
“Many of our customers are rightly questioning whether smaller, loss-making vendors reliant on venture capital will be able to weather the current market environment. At Behavox, we understand these concerns – and we’re ready to step in and support organizations of any size should their current provider exit the market.”
Behavox continues to stay in close contact with customers, prospective clients, and partners. Its strong financial position enables it to offer flexible commercial terms and support institutions navigating economic uncertainty. The company remains steadfast in its commitment to prioritizing market integrity and client stability over short-term profits.
Contacts
Media contact:
Nick Warren
[email protected]
