Annual revenue expected at €285.5 million

Operating margin on business activity of at least 11.0% of revenue confirmed

Regulatory News:

In compliance with Regulation (EU) No. 596/2014, Axway (Euronext: AXW.PA) is adjusting its annual revenue forecast for the 2021 financial year. Although Axway is able to confirm its annual profitability target of an operating margin on business activity of at least 11.0% of its revenue, the company announced today that the total revenue will not meet the expected organic growth.

While the company was anticipating organic revenue growth of between 2.0 and 4.0% in 2021, preliminary estimates, which have not yet been finalized or audited, suggest that annual revenues will be in the order of €285.5 million, representing an organic decline of approximately 2.7%.

After growing by 2.0% over the first nine months of the year, Axway's activity declined by 13.5% in Q4 2021. Over the period, several deals have seen their schedules postponed or their budgets reallocated. Some major clients and prospects, exposed to significant recruitment difficulties in their IT and administrative teams, did not launch the expected projects. These labour shortages could continue through fiscal year 2022.

Patrick Donovan, Axway's Chief Executive Officer, said:

“Over the past year, our teams have worked extremely hard in challenging conditions to best serve our customer’s needs. While all regions started Q4 with visibility to achieve our forecast, we faced similar challenges in our different markets due to budget cuts or staffing difficulties at several important clients. I remain confident in our ability to deliver significant value to our customers through our solutions and we will continue to do so in these tough times, while preparing for their return to normal business levels."

As planned, the details of the 2021 annual results will be published on February 22, 2022, after the stock market close and will be commented on the same evening during a presentation to analysts scheduled at 6:30pm (UTC +1).

However, to provide early analysis of the company's performance in Q4 2021, Axway's management team will hold a conference call tomorrow morning, Thursday, January 20, 2022, at 8:00 a.m. (UTC+1).

Thursday, January 20, 2022, 8:00 a.m. (UTC+1): Analyst & Investor Conference

  • Conference registration: Click here Or join by phone by dialling one of the numbers below and quote "Axway" at the operator's request: - International: +44 (0) 33 0551 0200 / France: +33 (0) 1 7037 7166 / USA: +1 212 999 6659

Please note that the meeting will be held in English and will be available for replay on the company's website.

Financial calendar

Tuesday, February 22, 2022, after close of trading: Publication of 2021 Full-Year Results. Tuesday, February 22, 2022, 6.30 p.m. (UTC+1): 2021 Full-Year Results Virtual Analyst Conference.

Glossary and Alternative Performance Measures

Restated revenue: Revenue for the prior year, adjusted for the consolidation scope and exchange rates of the current year.

Organic growth: Growth in revenue between the period under review and the prior period, restated for consolidation scope and exchange rate impacts.

Growth at constant exchange rates: Growth in revenue between the period under review and the prior period restated for exchange rate impacts.

ACV: Annual Contract Value – Annual contract value of a subscription agreement.

TCV: Total Contract Value – Full contracted value of a subscription agreement over the contract term.

Signature metric: Amount of license sales plus three times the annual contract value (3xACV) of new subscription contracts signed over a given period.

Net Signature metric: Signature metric net of the maintenance attrition by migration to new subscription contracts

Profit on operating activities: Profit from recurring operations adjusted for the non-cash share-based payment expense, as well as the amortization of allocated intangible assets.

NPS: Net Promoter Score – Customer satisfaction and recommendation indicator for a company.

Employee Engagement Score: Measurement of employee engagement through an independent annual survey.


This press release contains forward-looking statements that may be subject to various risks and uncertainties concerning the Axway’s growth and profitability, notably in the event of future acquisitions. Axway highlights that signature of contracts, which represent investments for customers, are more significant in the second half of the year and may therefore have a more or less favourable impact on full-year performance. In addition, Axway notes that potential acquisition(s) could also impact this financial data. Furthermore, activity during the year and/or actual results may differ from those described in this document as a result of a number of risks and uncertainties set out in the 2020 Universal Registration Document filed with the French Financial Markets Authority (Autorité des Marchés Financiers, AMF) on March 18, 2021, under number D.21-0147. The distribution of this document in certain countries may be subject to prevailing laws and regulations. Natural persons present in these countries and in which this document is disseminated, published, or distributed, should obtain information about such restrictions, and comply with them.

About Axway

Axway (Euronext: AXW.PA) empowers customers to succeed using hybrid integration to connect people, systems, businesses, and digital ecosystems. Axway’s hybrid integration platform, Amplify, helps enterprise power users, IT specialists, developers, and partners accelerate digital transformation, create captivating experiences, and innovate new services. Amplify speeds integrations by combining traditional integration patterns with API Management and Application Integration (providing over 150 prebuilt connectors). Over 11,000 organizations in 100 countries rely on Axway for their data integration challenges. To learn more, visit

Investor Relations: Arthur Carli – +33 (0)1 47 17 24 65 – Press Relations: Sylvie Podetti – +33 (0)1 47 17 22 40 –

Axway Software (EU:AXW)
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