Softbinator Group closes 2024 with a turnover of 28.7 million lei and a net profit of 2 million lei

Softbinator Technologies, a Romanian company providing comprehensive software product development services (product management, product design, software development, AI/ML development, and product marketing), posts a consolidated turnover of 28.7 million lei in 2024. EBITDA reached 3.8 million lei, a 476% increase compared to the loss in 2023, while net profit amounted to 2 million lei, up 139% compared to the loss in the previous year. Softbinator Technologies’ consolidated financial results for 2024 were prepared in accordance with IFRS standards.

“2024 was a successful year for Softbinator Group, which adapted to the transformations in the global technology market. From a financial perspective, we recorded an EBITDA and net profit significantly above the budgeted values, confirming the success of our cost reduction measures and efforts to maximize team efficiency by retaining key senior staff. These measures, implemented amid a slight decline in turnover, have delivered solid results, reflected in the positive profitability margin, which we aim to continue increasing over the next 2-3 years. Another highlight in 2024 was the organic growth, supported by a shift in the client profile, which is now completely different from that of two years ago. At the same time, our direct sales strategy has proven its effectiveness. Furthermore, Softbinator is one of the few companies in Romania specifically built to serve technology companies in the US, and the steps we have taken in this direction strengthen our position in this market and increasingly set us apart from the competition,” stated Daniel Ilinca, Founder and CEO of Softbinator Technologies.

In 2024, the Group’s turnover registered an 11% decline due to the current market context in the IT industry, as well as longer sales cycles specific to the new type of client targeted by Softbinator. These mature companies, which generate stable revenues, have a much more complex acquisition chain compared to smaller clients, such as start-ups. At the same time, expenses decreased by 29%, at a faster pace than revenues, leading to a positive net result.

The Company’s performance exceeded the estimates included in the 2024 Revenue and Expense Budget. The EBITDA level, at 3.8 million lei, was 92% above the budgeted value of 2 million lei. Moreover, net profit was 206% higher than budgeted – 2 million lei achieved compared to the budgeted 663 thousand lei.

The 2024 consolidated results, in IFRS format, include the performances registered by Softbinator Technologies, [es-pres-oh], and Digital Tailors. Last year, the Group continued the integration of the companies within it, streamlining entities through mergers and optimizing existing costs.

At an individual level, according to IFRS, Softbinator Technologies recorded a turnover of 20.6 million lei, a 6% increase compared to 2023, an EBITDA of 3.1 million lei, up by 263% compared to the previous year, while net profit reached 1.5 million lei, an improvement of 161% compared to the 2.4 million lei loss in 2023.

“Identifying opportunities in this volatile environment represents our main focus for 2025. We will continue expanding into the US market, particularly on the East Coast, as well as in the United Kingdom and the United Arab Emirates. At the same time, we will target Latin America to attract talent aligned with our development goals. Professionals from this region, exceeding 2 million programmers, offer a competitive quality-to-cost ratio and benefit from a smaller time zone difference with the US. We also aim to finalize at least one strategic acquisition to accelerate our growth and expand our current capabilities and expertise. Artificial intelligence remains a priority for us, as we work closely with clients to integrate these technologies into their development processes, with the goal of improving efficiency and creating innovative solutions for them,” added Daniel Ilinca.

According to the 2025 Revenue and Expense Budget published by Softbinator, the company targets, at a consolidated level, a turnover of 31.5 million lei, a 10% increase compared to 2024, an EBITDA of 4.3 million lei, up by 12%, and a net profit of 2.9 million lei, an increase of 41%. To achieve these objectives, the Group will intensify its activity in the US, focusing on strengthening the sales team and establishing new partnerships, particularly in Silicon Valley, New York, and Florida. At the same time, Softbinator aims to expand its global presence through partnerships in Israel and Western Europe, especially in the United Kingdom.

Softbinator Technologies is listed on the AeRO market of the Bucharest Stock Exchange as of December 17, 2021, trading under the symbol CODE.

____________________ 

About Softbinator Technologies

Softbinator Technologies, a Romanian company that provides full-stack product development services (product management, product design, software development, AI/ML development, and product marketing) using cutting-edge technologies and helps companies to launch high-performance and easily scalable products in a shorter time. The company’s services and products are used globally by startups, SMEs, unicorns, and Fortune 500 clients, with which they build versatile teams that use the Agile methodology. The organization’s profile is oriented toward product development, valued for its ability to deliver results quickly. Softbinator Technologies has approximately 50 programmers and collaborators in its team in Bucharest, and Timisoara as well as in Cluj, Brasov, Constanta, Iasi.  www.softbinator.com