Claranova reports 4% third-quarter growth on restated earnings report

French imaging software publisher Claranova publishes its revenue for the first 9 months of the 2024-2025 financial year (July 2024 – March 2025) refocused on solely Avanquest activities. The myDevices and PlanetArt divisions are being sold, so they are no longer part of the group’s consolidation scope within the framework of the application of IFRS 5.

Avanquest achieved revenue of €31 million in the third quarter of the 2024-2025 financial year (January – March 2025), up 4% at constant exchange rates (2% at actual exchange rates). Following the sale of non-strategic activities in Europe in October 2023, this performance is not affected by scope effects. This growth is driven by the developments made by the division in the Security segment, which recorded a solid increase in the number of subscription customers over the period. In addition, the particular attention paid to improving profitability is having an impact on PDF and Security.

Over the first 9 months of the financial year, cumulative revenue reached €91 million, up 3% at constant scope and exchange rates (-1% at actual exchange rates, due to the deconsolidation of non-strategic activities sold in 2023-2024). The share of sales of proprietary software in SaaS mode represents 92% of revenue (89% last year) and amounts to €84 million (+2%). This increase in higher value-added revenue will contribute to the growth in profitability over the financial year.

Over the same period, sales from non-strategic activities are marginalized, falling to 8% of turnover, or €7 million at the end of March 2025 (compared to €10 million last year).

“This third quarter of 2024-2025 reflects the strategic transformation undertaken by Claranova and highlights the performance of our software publishing business,” said Eric Gareau, CEO of Claranova. “Our SaaS model continues to gain momentum and is a key lever for improving our profitability and increasing the company’s valuation. Furthermore, we are actively working on finalizing the PlanetArt sale agreement, with the objective of closing the transaction before the end of June. Confident in our ability to take this new step, we are approaching the future with determination, driven by a renewed ambition: to build more profitable and sustainable growth.”