Equasens: Q3 2023 revenue


Villers-lès-Nancy, 9 November 2023 – 6:00 p.m. (CET)


Q3 2023 revenue


  • Q3 2023 revenue: stable year-on-year at €50.1m
  • Growth impacted by:
    • The completed deployment of solutions under the Ségur French Digital Healthcare investment programme:
    • Adverse market conditions affecting Pharmacy sector.
In €m 2022 2023 Change
2023 / 2022
Q1 49.4 56.3 +14% (*)
Q2 54.2 56.3 4 %
Q3 (unaudited) 50.1 50.1 0 %
9 month YTD 153.7 162.7 6 %

(*) Strong growth in Q1 reflecting a favourable comparison base (restructuring of the electronic labelling activity).


Q3 2023 business highlights:

  • The PHARMAGEST Division reported revenue of €36.8m, marginally down on Q3 2022 (-1%). For the first 9 months, revenue rose 6% to €120.5m.
    • The hardware configuration business was down in relation to Q3 2022, reflecting notably completion of the technical compliance campaign for the installed base combined with the rollout of Ségur functionalities.
    • The economic environment impacted by inflation and rising operating costs, combined with a financial context unfavourable for investment, also adversely impacted equipment purchases by pharmacies, including for electronic labels.
    • Driven by the success of new offerings, and in particular messaging, mobility and back-up solutions, sales of licenses and services remain buoyant.
    • Recurring revenue continue to show strong growth.
    • This Division accounted for 74 % of Equasens Group’s total revenue.
  • The AXIGATE LINK Division had revenues of €7.4m, up 6% on Q3 2022. Revenue for the first 9 months rose 6% to €22.3m.
    • The Division is continuing to grow in its historical market segments of nursing homes and hospital-at-home care.
    • The TITANLINK solution continues to display strong growth, particularly in Belgium, as new functionalities, such as CARELIB, are being integrated into the software.
    • This Division accounted for 14 % of Equasens Group’s total revenue.
  • The E-CONNECT Division had revenue of €3.6m, with strong growth of 23% compared with Q3 2022. Revenue for the first nine months rose 13% to €11.7m.
    • Once again, the Division registered a very good performance for the quarter: Mobility solutions have been a genuine success, made possible by the Division’s ability to meet the challenges of production capacity and component sourcing.
    • This Division accounted for 7 % of Equasens Group’s total revenue.
  • The MEDICAL SOLUTIONS Division had revenue of €1.8m, down 24% on Q3 2022. For the full first nine months, total revenue remained stable year-on-year, at €6.7m.
    • This decline in revenue reflects the end of Medistory 4 license sales in H1 linked to the Ségur rollout initiated in Q3 2022.
    • Today, the Division is offering a new subscription-based version of its Médistory software representing a source of recurring revenue.
    • This Division accounted for 4 % of Equasens Group’s total revenue.
  • The FINTECH Division reported sales of €0.4m for Q3 2022 and €1.5m for the first 9 months, unchanged in relation to the same periods in 2022.
    • The continuing rise in refinancing rates continues to penalise the financing brokerage activity.
    • This Division accounted for 1 % of Equasens Group’s total revenue.

2023 outlook

  • Excluding the comparison base effect from the end of the Ségur deployment in 2022 and its exceptional contribution to revenue, growth momentum of the PHARMAGEST Division’s remains solid.
  • The AXIGATE LINK and e-CONNECT Divisions are also confident that their growth levels will remain strong for the remainder of the year.
  • The MEDICAL SOLUTIONS Division is currently restructuring its offering and organization in order to enhance its performance.
  • Based on the positive results of a major business development campaign, the FINTECH Division is confident about its outlook for year-end.
  • The Group will continue to be on the lookout for external growth opportunities in France and Europe.

Financial calendar:

  • Q4 2023 revenue: 6 February 2024 

About Equasens Group:

With more than 1,200 employees fulfilling a vital role as “Citizens in the Service of Health and Well-Being”, Equasens Group is today a key player in the European healthcare sector, providing software solutions to all healthcare professionals (pharmacists, primary care practitioners, hospitals, Hospital-at-Home structures, retirement homes, health centres) in both primary and secondary care sectors.

With operations in in France, Germany, Great Britain, Belgium, Ireland, Italy, and Luxembourg, Equasens Group today brings together healthcare professionals within a unique ecosystem in France and Europe benefiting people by making available the very best of technology.

Listed on Euronext Paris™ – Compartment A

Indexes: MSCI GLOBAL SMALL CAP – GAÏA Index 2020 – CAC® SMALL and CAC® All-Tradable
Included in the Euronext Tech Leaders segment and the European Rising Tech label

Eligible for the Deferred Settlement Service (“Service à Réglement Différé” – SRD) and equity savings accounts invested in small and mid caps (PEA-PME).
ISIN: FR 0012882389 – Ticker Code: EQS

Get all the news about the Equasens Group www.equasens.com and on LinkedIn


Analyst and Investor Relations:
Chief Administrative and Financial Officer: Frédérique SCHMIDT
Tel: +33 (0)3 83 15 90 67 – [email protected]

Media Relations:
FIN’EXTENSO – Isabelle Aprile

Tel.: +33 (0)6 17 38 61 78 – [email protected]


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