Exclusive Networks CEO: We have grown addressable market by €9bn since IPO

VAD sees gross sales hike 42 per cent to €1.1bn in Q3

Exclusive Networks continues to show strong momentum as a public company in its third quarter 2022 financial results, one year on since its IPO.

Group IFRS revenues shot up 40 per cent to earn €809m in Q3.

Cloud-based sales reached the €1bn mark in annualised run rate.

Total gross sales surged 42 per cent to hit €1.1bn.

Some 88 per cent of its gross sales increase was generated by growth from existing vendors, with new vendor signings (including Cymulate) and contract extensions with existing vendors including Mimecast responsible for seven per cent of the uptick. The remaining five per cent was down to Exclusive's acquisition of Networks Unlimited last December.

On an earnings call, Exclusive Networks CEO Jesper Trolle (pictured) said the Paris-headquartered VAD had "remained relentless" in expanding its market opportunity since its IPO.

"We have added more than 2,200 new channel partners to our ecosystem, acquired 13 new vendors and signed 14 expansion agreements with existing vendors. This has all resulted in an additional serviceable addressable market opportunity of €9bn since the time of our IPO," he said.

Trolle added the group continues to see an upward trend in large enterprise deals as end customers continue to rationalise their security strategies toward a consolidated platform approach, leaning into channel partners to provide integrated solutions and flexible finance.

"Digital transformation and IT modernisation continued to drive market demand as cybersecurity teams strive to safeguard remote and hybrid working environments dependant on cloud-based delivery models," Trolle added in his prepared statement.

Exclusive Networks continues to climb in EMEA

Revenues were up 43 per cent to €630m within EMEA.

Gross sales came to €857m, an increase of €260m or 44 per cent year on year.

Exclusive said the region benefited from a strong momentum in all countries and an accelerated trend in the enterprise market fuelled by the solid growth of its larger resellers.

The group also fared well across the pond in the Americas.

Revenues spiked 55 per cent to €89m while gross sales shot up 66 per cent to €155m.

Exclusive said its results in the Americas led to the region overtaking APAC as the group's second largest.

It added this reflects progress with its goal to expand activities further in North America.