Positive Group boosts delivery volumes to 35 bln rubles in 2025
MOSCOW. Feb 9 (Interfax) - PJSC Positive Group, the parent company of Positive Technologies , which develops information security solutions, boosted delivery volumes, namely the transfer of the right to use licensed products to a client or concluded contracts for cybersecurity services, to 35 billion rubles in 2025 from 24.1 billion rubles in 2024, the company said.
"Based on current management data, delivery volumes totaled 35 billion rubles. Taking into account the increased share of 'large receipts' in the overall sales structure, management expects the volume of paid deliveries to be between 32 and 34 billion rubles by the end of March, as recognized in the final financial statements," the company said.
The company will include some of the 2025 transactions for which payment is received after March in its 2026 financial results.
Positive Group expects significant delivery growth, operational efficiency, and strict cost control to return its net income before capitalization of expenses (NIC), the basis for calculating dividends, to positive territory. The company also notes that it did not reduce R&D investment in 2025 and has maintained it at the same level of approximately 9 billion rubles.
"Our sales team is currently focused on maximizing payments for actual deliveries in the first quarter of 2025, as well as setting sales goals and plans for 2026," Maxim Filippov, Deputy CEO of Positive Group, said in the statement. "It is already clear that Positive Technologies' growth rate in 2026 will remain double-digit and will be at least twice as fast as the market growth rate," he said.
The company estimates that business growth in the coming years will be driven by scaling sales of new products and services, namely PT X, MaxPatrol EPP and antivirus technologies, PT NGFW, and PT ISIM. Positive Group also expects to boost its international business.
"We see significant potential for developing long-distance international business, the volume of which is close to exceeding sales in the CIS countries and making a significant contribution to our overall financial results," Filippov said. "One of the areas for growth in our international business will be the creation of joint ventures in friendly locations and the development of sovereign cybersecurity on a national scale," he said.
Positive Group plans to maintain overall expenses in 2026 at the 2025 level and substantially reduce the debt burden by the end of the first quarter this year.
Positive Group plans to publish its audited consolidated financial and management statements for 2025 on April 7, 2026.
The company previously forecast delivery volumes of 33, 35, and 38 billion rubles at no less than the weighted average forecast and the optimistic forecast, respectively, for 2025.
Positive Group increased revenue 12% year-on-year to 10.9 billion rubles in 9M 2025, as well as the delivery volume to 11.9 billion rubles from 9 billion rubles the previous year. EBITDA - which is a management measure that differs from EBITDA by the difference between revenue and deliveries and by the amount of capitalized expenses, such as development costs and other expenses - and NIC [taking into account the company's seasonality] remained negative at minus 6 billion rubles versus minus 9.5 billion rubles the previous year and minus 8.79 billion rubles versus minus 10 billion rubles in 9M 2024, respectively. Positive Group had a net loss of 5.7 billion rubles in 9M 2025 versus 5.2 billion rubles the previous year.
Positive Group had revenue of 24.5 billion rubles, EBITDA of 6.5 billion rubles, net profit of 3.7 billion rubles, EBITDAC of minus 1.2 billion rubles, and NIC of minus 2.7 billion rubles in 2024, which were significantly below the company's expectations and forecasts.
PJSC Positive Group's shares are currently traded on the Moscow Exchange, and the company was listed in December 2021.
The group's main operating company is JSC Positive Technologies, which is wholly owned by PJSC Positive Group.
