Wallix announced on Friday that it had posted an 'excellent' first-half performance, in line with its objective of accelerating organic growth by 2023.

The cybersecurity software publisher reports that business growth accelerated over the first six months of the year, with sales up 26.4% to €13.9 million.

"The first half of 2023 marks Wallix's return to organic hyper-growth, in line with our strategic plan and ambitions", stresses CEO Jean-Noël de Galzain.

The group explains this high growth rate by the evolution of its business model towards a subscription-based system intended to guarantee a recurring revenue stream and better long-term financial visibility.

Wallix - which aims to become a European champion in cybersecurity - reiterates its ambition to pursue its growth momentum and achieve break-even operating income by 2024.

The share price, down 0.5% on Friday, did not react much to this publication on the Paris Bourse.

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