The loss of the Positiv group for the first quarter of 2025 amounted to 2.77 billion rubles against a loss of 1.49 billion rubles a year earlier. Revenue increased by 7.6% to RUB 2.344 billion from RUB 2.178 billion. This is evidenced by the interim condensed consolidated financial statements (unaudited).
The volume of shipments of Positive Technologies amounted to 3.8 billion rubles. compared to 1.8 billion rubles for the same period in 2024.
Shipments are a management metric that reflects revenue generated in the normal course of the group's business and are recognized in the sum of the transaction price. All shipments are recognized at the time of signing the acceptance certificate with the buyer and adjusted on the date of payment.
The amount of capital that the group managed as of March 31, 2025 was RUB 14.176 billion. (as of December 31, 2024 -17.06 billion rubles)
During the three months ended March 31, 2025, approximately 84% of the group's revenue came from four large distributors (during the three months ended March 31, 2024, approximately 76% of the group's revenue came from four large distributors), while the end users of the group's IT products are large and medium-sized enterprises of various industries. In this regard, the group's management believes that the risk of operational concentration is not significant. As of March 31, 2024, the outstanding accounts receivable of these customers amounted to 3.639 billion rubles. (On December 31, 2024, the outstanding accounts receivable from these customers amounted to 1.586 billion rubles). Most of the revenue is accounted for by customers from the Russian Federation: 99% and 99% for the three months ended March 31, 2025 and March 31, 2024, respectively.
For the three months ended March 31, 2025, the following expenses were capitalized as intangible assets: personnel expenses — 1.298 billion rubles (2024 — 896.435 million rubles), interest expenses — 367.689 million rubles (2024 — 147.983 million rubles) and professional services — 45.741 million rubles (2024 — 57.929 million rubles) (unaudited data).
Key management personnel include key group managers and members of the Board of Directors. For the three months ended March 31, 2025, the total remuneration to key management personnel amounted to 95.204 million rubles, including social contributions (for the three months ended March 31, 2024 — 140.341 million rubles). As of March 31, 2025 and December 31, 2024, the debt owed to key management personnel amounts to RUB 75.01 million and RUB 99.119 million, respectively.
Positive Technologies (issuer of PJSC Positive Group) is a developer of information security solutions.
Net profit of Positive Technologies (issuer of PJSC "Positive Group") According to IFRS, it amounted to 3.66 billion rubles in 2024. compared to 9.696 billion rubles a year earlier. The net loss on management reporting amounted to 2.7 billion rubles. Revenue increased by 10% to 24.5 billion rubles. EBITDA amounted to 6.5 billion rubles against 10.8 billion rubles.
The net profit of PJSC Positiv Group according to RAS for 2024 increased by 40.88% to 6.49 billion rubles from 4.6 billion rubles a year earlier. Revenue increased twofold to 10 billion rubles from 4.69 billion rubles.
The net profit of Positive Technologies JSC according to RAS for 2024 fell 2.4 times to 4.7 billion rubles from 11.3 billion rubles a year earlier. Revenue increased by 5.7% to 24.468 billion rubles from 23.151 billion rubles.
