This review of 2024 explores the key events that shaped our year, our performance, and our outlook for next year.
Surrounding world
The year 2024 has been characterized by a continued instability, with wars, high interest rates and a recession that has affected both society and the technology sector. At the same time, growth for cloud services remains strong and developments in AI have taken great strides forward, creating both opportunities and challenges. What we experience is that digital sustainability and sovereignty are getting higher on the agenda where organizations want better control over data and less lock-in.
Events in 2024
In recent years, Elastx has made significant investments in the Elastx Cloud Platform, resulting in the launch of several new services in late 2023 and 2024. See our OpenStack IaaS, Kubernetes CaaS and DBaaS announcements. This has strengthened our position in the market where we are unique in offering a platform for mission-critical services combined with full regulatory compliance for sensitive data.
In 2024, we have focused on increased turnover on these services and to strengthen our position in the market. We have targeted the market segment where we are strongest, namely SaaS solutions that handle sensitive data. During the year, we have had good growth among our existing customers and also brought on board more than 30 new customers.
Our ISO certifications are important to us as they help us raise the quality of our services and processes. This year we did a full recertification where we updated to the latest version, ISO 27001:2022.
Of the events we organized and participated in during the year, AI has taken a big place but also a continued focus on how SaaS services should be managed effectively in Cloud Native environments.
Result
After a longer period with a number of heavy strategic investments and red numbers, we have had good growth during the year and turned to a positive operating profit which will land around 0 for the year. This gives us a very good starting point for 2025, where the curve points to record-breaking growth and a good operating profit.
What drives the growth is above all cloud native loads and managed services such as databases where our new generation of storage and compute together with our security functions have made us a leader in this segment. We also see increased demand on GPU and ML services, which shows that our customers are increasingly building AI services.
Future prospects
Our strategy going forward is to continue to be a platform for business-critical services and sensitive data. It is primarily security-related services that we will focus on during 2025 and thereafter enable geographic expansion for our customers. We have one exciting roadmap during 2025 where we will continue to launch new services to help our customers with a secure and robust platform that enables innovation with digital sovereignty and sustainability.
Employees
We want to highlight the efforts of our employees during the year. It is their competence, creativity and commitment that makes it possible to deliver the Elastx Cloud Platform with the service levels and availability that we do. We are proud to be a workplace where individuals thrive and develop, which is reflected in our customer relationships and our results.
2025, here we come!
We at Elastx would like to thank all our customers and partners for an eventful 2024 and wish you a Happy New Year! We look forward to continuing the collaboration with you in 2025.
Joakim Öhman CEO
We are happy to talk about digital sustainability and sovereignty, contact us if you are curious.
Send a message