One Technologies Reports Record Profits and Organic Growth in Q1 2024

One Technologies, a leading player in the technology sector, has announced its financial results for the first quarter of 2024, revealing impressive organic growth and record profits. The company's strategic initiatives to reduce operating expenses and enhance cash reserves have positioned it for further expansion through mergers and acquisitions both domestically and internationally.

Financial Highlights:

• Revenues for Q1 2024 surged by approximately 7.4% to NIS 983 million, compared to NIS 915 million in the corresponding period.
• Gross profit witnessed a robust increase of about 7% to approximately NIS 152 million, demonstrating organic growth across all areas of the company's activities.
• Operating profit soared by about 15% to about NIS 74 million, with an operating profit rate of approximately 7.6% of revenues.
• Net profit experienced a remarkable surge of about 18.5% to approximately NIS 55 million, reflecting both increased activity volume and decreased operating expenses.

CEO Commentary: Adi Eyal, CEO of One Technologies, expressed satisfaction with the company's performance despite economic challenges. He highlighted the expansion of activities in cybersecurity, artificial intelligence, ERP, and cloud services, coupled with ongoing efforts to streamline expenses. Eyal emphasized the company's commitment to supporting its employees, including those serving in reserves, and expressed hope for the safe return of kidnapped and missing individuals in Israel.

Strategic Outlook: One Technologies remains focused on accelerating activities in the security sector while expanding its presence in other business sectors, including the public sector. The company maintains strong financial stability, zero leverage, and a substantial cash balance, providing a solid foundation for executing its strategy of mergers and acquisitions.

Conclusion: One Technologies' impressive financial results underscore its resilience and strategic foresight in navigating challenging economic conditions. With a commitment to innovation, cost-efficiency, and employee support, the company is well-positioned to capitalize on emerging opportunities and drive continued growth in the technology sector.