Romanian IT security giant Bitdefender posts profit for 2024

IT security solutions provider Bitdefender, one of the most well-known Romanian IT brands internationally and the largest local software producer, reported revenues of RON 1.67 billion (EUR 330 million), up 62.6% compared to 2023, according to Profit.ro.

The company reported a net profit of RON 239.6 million (EUR 47.3 million) in 2024, from a loss of RON 122.7 million (EUR 24.2 million) in the previous year. Importantly, the negative result in 2023 was the effect of the company’s transition to a new accounting standard.

Last year, Bitdefender’s liabilities increased by 44.4% to RON 300.1 million (EUR 59.2 million), and receivables advanced by 24.9% to RON 347.9 million (EUR 68.6 million).

The average number of employees rose by 7.3%, from 1,538 to 1,650.

In December 2021, Bitdefender was reportedly preparing to launch an IPO on the US capital market, with JP Morgan and Morgan Stanley hired as consultants, at a valuation fit for unicorn status. However, the company management decided to put the listing on hold due to increased pessimism on the market.

In 2017, Bitdefender was valued at over USD 600 million following a transaction in which the European fund Vitruvian Partners acquired 30% of the company’s shares from Axxess Capital. Recently, the investment platform AInvest stated that an IPO is expected in 2026.

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