Buy Or Sell Opportunity • May 25
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to €25.20. The fair value is estimated to be €20.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 46%. Announcement • May 01
WALLIX GROUP SA, Annual General Meeting, May 04, 2026 WALLIX GROUP SA, Annual General Meeting, May 04, 2026. Location: 250 bis rue du faubourg saint honore, paris France New Risk • Apr 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. New Risk • Feb 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2026 The 2 analysts covering WALLIX GROUP previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of €5.55m in 2026. Average annual earnings growth of 114% is required to achieve expected profit on schedule. Announcement • Nov 26
WALLIX GROUP SA (ENXTPA:ALLIX) acquired Malizen SAS. WALLIX GROUP SA (ENXTPA:ALLIX) acquired Malizen SAS for €1.6 million on November 25, 2025. All Malizen shareholders will thus become WALLIX shareholders and have undertaken to hold all the shares received for a minimum period of six months. The transaction, which is non-equity-dilutive, preserves the Group’s financial strength. The transaction involves the acquisition of 100% of the shares comprising Malizen’s share capital on the basis of an enterprise value of €1.6 million, including €0.2 million in net financial debt i.e, 80% of the value of the shares (i.e. €1.1 million) paid immediately, including €0.2 million in cash and the balance through the allocation of 37,764 existing treasury shares of WALLIX1 representing 0.56% of the share capital; 20% of the value of the shares (i.e. €0.3 million) conditional upon the achievement of technological and financial performance targets and paid in equal installments in September 2026 and September 2027, with 50% in cash and 50% in WALLIX shares.
WALLIX GROUP SA (ENXTPA:ALLIX) completed the acquisition of Malizen SAS on November 25, 2025. Board Change • Nov 14
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Thierry Rouquet was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 22
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jun 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 12
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 29
WALLIX GROUP SA, Annual General Meeting, Jun 05, 2025 WALLIX GROUP SA, Annual General Meeting, Jun 05, 2025. Location: 250 bis rue du faubourg saint honore, paris France Board Change • Apr 10
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 24
Full year 2024 earnings released: €0.65 loss per share (vs €1.30 loss in FY 2023) Full year 2024 results: €0.65 loss per share (improved from €1.30 loss in FY 2023). Revenue: €41.3m (up 23% from FY 2023). Net loss: €4.29m (loss narrowed 50% from FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Breakeven Date Change • Mar 07
Forecast breakeven date pushed back to 2025 The 2 analysts covering WALLIX GROUP previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 38% to 2024. The company is expected to make a profit of €150.0k in 2025. Average annual earnings growth of 116% is required to achieve expected profit on schedule. Breakeven Date Change • Apr 03
Forecast breakeven date pushed back to 2025 The 2 analysts covering WALLIX GROUP previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 82% to 2024. The company is expected to make a profit of €4.00m in 2025. Average annual earnings growth of 101% is required to achieve expected profit on schedule. Announcement • Dec 08
WALLIX GROUP SA to Report Fiscal Year 2023 Results on Mar 21, 2024 WALLIX GROUP SA announced that they will report fiscal year 2023 results on Mar 21, 2024 Reported Earnings • Oct 25
First half 2023 earnings released: €0.82 loss per share (vs €0.62 loss in 1H 2022) First half 2023 results: €0.82 loss per share (further deteriorated from €0.62 loss in 1H 2022). Revenue: €15.3m (up 19% from 1H 2022). Net loss: €5.44m (loss widened 50% from 1H 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 14
First half 2023 earnings released First half 2023 results: Revenue: €16.2m (up 26% from 1H 2022). Net loss: €5.44m (loss widened 50% from 1H 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Software industry in Germany. New Risk • Sep 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (€59.6m market cap, or US$63.2m). Announcement • Jun 09
WALLIX GROUP SA announced that it expects to receive €9 million in funding WALLIX GROUP SA announced a private placement of common shares at an issue price of €10.50 per share for gross proceeds of around €4,000,000 and entered into an agreement for the private placement of convertible bonds for gross proceeds of €5,000,000 for aggregate gross proceeds of around €9,000,000 on June 8, 2023. The bonds transaction will fully include participation from investment funds managed by NextStage AM. The common shares will will involve accelerated book building and will be issued without preferential subscription rights. The bonds will have a coupon rate of 6%, annual non-conversion premium of 8% (non-compounded) and will mature in four tranches from December 31, 2026 to December 31, 2029. The bonds will be convertible at an issue price of €16. Announcement • May 17
WALLIX GROUP SA (ENXTPA:ALLIX) acquired Kleverware for €0.25 million. WALLIX GROUP SA (ENXTPA:ALLIX) acquired Kleverware for €0.25 million on May 16, 2023. WALLIX paid an initial price of €250,000 paid in cash, with possible earnouts subject to the presence of the Kleverware founding shareholders and Kleverware’s performance.WALLIX GROUP SA (ENXTPA:ALLIX) completed the acquisition of Kleverware on May 16, 2023. Announcement • Aug 18
Wallix Announces Management Appointments WALLIX announced its continued growth plans across the USA, underpinned by two strategic hires. The company has recruited US-based executives and is in the process of developing key strategic alliances and forging new reseller partnerships to reinforce its "Channel First" sales model in the Americas. New executives Walter Lewis, SVP Americas Sales, and Richard A Weeks, SVP Global Alliances & Americas Channels, will expand WALLIX revenue and market presence in the United States of America and Canada. Walter Lewis is an experienced security sales executive, who started his career in technical project management, before making the move to professional services delivery leadership. Walter's transition from delivery into go-to-market responsibilities began while leading the North America information security practice, focusing on Identity and Access Management, Threat Vulnerability Management, and Governance, Risk and Compliance. Richard Weeks is an Identity Security indirect sales veteran, with a history of creating and managing effective technology alliances and implementing channel sales programs for global cyber firms. Richard began his tech career as a secure mainframe computer operator in the US Air Force and has represented well-known identity focused firms for the past twenty years. Announcement • Jul 29
WALLIX GROUP SA to Report First Half, 2022 Results on Oct 13, 2022 WALLIX GROUP SA announced that they will report first half, 2022 results on Oct 13, 2022 Announcement • Apr 21
WALLIX GROUP SA Develops A Vision, PAM for All WALLIX has developed a vision, "PAM for all", enabling it to offer its customers the promise of a secure digital transformation for all. To realize this vision, WALLIX now offers WALLIX PAM4ALL, a unified solution that brings together all WALLIX technologies and goes beyond the protection of privileged accounts by securing, according to the principle of least privilege, all at-risk users and workstations in an organization. In the current context, it is essential for organizations to secure their IT access and not only the most sensitive accounts (privileged accounts). WALLIX PAM4ALL is a unified solution combining all WALLIX technologies, which goes beyond securing privileged accounts, and protects, according to the principle of least privilege, user access and workstations, to avoid contamination by malware or ransomware. At some point in their daily functions, all users need privileges to access certain digital resources in the organization. The challenge is to provide access at the right time, at the right privilege level, to perform the expected task, regardless of where the user is located, whether inside or outside the company. WALLIX PAM4ALL provides access control and visibility over: All users: employees, suppliers, partners, humans, or machines; All sessions; All the company's strategic assets; All the company's endpoints. To do this, WALLIX PAM4ALL combines WALLIX technologies in one single solution: Multi-Factor Authentication (MFA): To neutralize the risks associated with compromised credentials; Remote Access Management: To enable remote access for vendors, employees, or third-party maintainers; Session Management: To monitor, track, and audit sessions; Password management: To secure and rotate passwords and keys, and remove hard passwords; Least privilege management: To grant the right access rights to the right user at the right time, thus stopping the spread of malware by blocking lateral and vertical movement in the network. Breakeven Date Change • Jan 17
Forecast breakeven date pushed back to 2023 The 2 analysts covering WALLIX GROUP previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 60% per year to 2022. The company is expected to make a profit of €1.65m in 2023. Average annual earnings growth of 90% is required to achieve expected profit on schedule. Breakeven Date Change • Dec 14
Forecast to breakeven in 2022 The 2 analysts covering WALLIX GROUP expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 67% to 2021. The company is expected to make a profit of €1.80m in 2022. Average annual earnings growth of 108% is required to achieve expected profit on schedule. Reported Earnings • Oct 19
First half 2021 earnings released The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €13.7m (up 40% from 1H 2020). Net loss: €2.71m (loss narrowed 47% from 1H 2020). Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The 2 analysts covering WALLIX GROUP expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €1.10m in 2022. Average annual earnings growth of 100% is required to achieve expected profit on schedule. Reported Earnings • Mar 27
Full year 2020 earnings released The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: €25.6m (up 35% from FY 2019). Net loss: €7.32m (loss widened 6.9% from FY 2019). Is New 90 Day High Low • Feb 13
New 90-day high: €28.90 The company is up 97% from its price of €14.66 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €83.48 per share. Is New 90 Day High Low • Jan 20
New 90-day high: €24.90 The company is up 59% from its price of €15.62 on 22 October 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €73.59 per share. Is New 90 Day High Low • Jan 04
New 90-day high: €21.05 The company is up 44% from its price of €14.60 on 06 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €75.60 per share. Is New 90 Day High Low • Dec 17
New 90-day high: €18.80 The company is up 29% from its price of €14.62 on 18 September 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €74.16 per share. Is New 90 Day High Low • Nov 25
New 90-day high: €18.54 The company is up 17% from its price of €15.90 on 27 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.01 per share. Reported Earnings • Oct 17
First half earnings released Over the last 12 months the company has reported total losses of €8.27m, with losses widening by 60% from the prior year. Total revenue was €20.2m over the last 12 months, up 19% from the prior year. Is New 90 Day High Low • Oct 14
New 90-day low: €13.82 The company is down 5.0% from its price of €14.56 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €43.11 per share. 
