German open-source software company SUSE (SUSEG.DE) on Thursday reported results in line with expectations and confirmed its guidance, in the first set of quarterly results since it floated on the Frankfurt Stock Exchange in May.
Adjusted revenue was up 9% to $136.8 million while adjusted EBITDA fell 3% to $48.2 million. SUSE confirmed its IPO guidance for adjusted revenue of $550 million to $570 million and an adjusted EBITDA margin in the mid-30% range this year.
The company, headed by former SAP executive Melissa Di Donato, floated in Frankfurt in May and its shares have since gained just over 10% from their IPO price of 30 euros to value the business at $6.6 billion.
SUSE provides open-source software for companies to run applications at cloud data centres, on-premise servers, mainframe computers and devices at the edges of networks, making it a play on digital transformation.