Ateme: 14% Growth in Q1, but Asia and Latin America Fall Behind
Ateme reported a revenue of 19.9 million euros in the first quarter of 2026, marking an 8% increase in reported data and 14% on a like-for-like basis, thus returning to double-digit growth. Monthly Recurring Revenue (MRR) grew by 16% year-over-year and 5% sequentially. However, this overall performance conceals contrasting trajectories across different regions: the domestic European region (EMEA) is accelerating sharply, while Asia-Pacific and Latin America have experienced significant declines.
Diverse Regional Performance
The EMEA (Europe, Middle East, and Africa) region achieved a quarterly revenue of 9.7 million euros, growing by 31% in reported data and 34% on a like-for-like basis. According to the press release, this performance illustrates 'the strong current momentum in the Group's domestic market.' The United States and Canada posted revenues of 6.2 million euros, up by 8% in reported data and 19% on a like-for-like basis, confirming a rebound initiated the previous year. Conversely, the Asia-Pacific saw its sales decline by 22% to 2.4 million euros (19% decline on a like-for-like basis), due to a strong base effect: the first quarter of 2025 had seen a 52% growth on a like-for-like basis due to significant hardware sales. Latin America also fell by 25% to 1.7 million euros (-18% on a like-for-like basis), also due to a high base effect: the region had posted an 18% growth on a like-for-like basis a year earlier. Ateme notes that 'all regions are expected to grow over the full year.'
Key Indicator: Monthly Recurring Revenue
Beyond total revenue, Monthly Recurring Revenue (MRR) is a key indicator for the Group. It increased from 2.999 million euros in January 2026 to 3.135 million euros in April 2026, representing a sequential increase of 5%. On an annual basis, MRR has progressed by 16%. The MRR for April 2026 translates to an Annual Recurring Revenue (ARR) of 37.6 million euros. This growth in monthly recurring revenue reflects Ateme's business model, based on recurring contracts for support, multi-year licenses, and license rentals, which structure the company's long-term visibility.
Financial Targets for 2027 Confirmed
Ateme has confirmed its medium-term financial targets for 2027: an EBITDA of 22 million euros and a Monthly Recurring Revenue (MRR) of 4 million euros. Michel Artières, CEO of Ateme, states that 'the excellent work accomplished in 2025 has fully enabled Ateme to reposition itself on the trajectory of its 2027 objectives' and that 'sustained growth is on the agenda, including at the level of the recurring revenue base.' During the NAB Show 2026, which takes place from April 18 to 22, the Group will showcase innovations driven by generative AI in content processing, accessibility, and real-time analytics. Ateme emphasizes that AI is 'a key lever of productivity, scalability, and long-term value creation for media players.' The company also relies on strategic partnerships, notably with NVIDIA, to develop optimized workflows, particularly for Apple Vision Pro. The main challenge for investors: Ateme returns to double-digit growth and confirms its 2027 trajectory, but the fragmentation of regional performances raises questions about the resilience of the model outside the EMEA zone.
