Paris, June 17, 2025 – Virtualware (EPA:MLVIR), a pioneer in 3D-driven enterprise software, will uplist to Euronext Growth Paris on June 19 under the ticker ALVIR, following approval by the exchange’s admission committee
Virtualware’s uplist will enable the company to operate in a Multilateral Trading Facility with greater market liquidity, aiming for a broader diversification of its investor base and access to new financing instruments.
The company went public via a direct listing process on Euronext Access, the market’s junior segment, in April 2023 at a valuation of 27 million euros.
“This process brings to culmination a two-year journey that began with listing on the Euronext Access Paris in April 2023 and marks an important step forward for Virtualware as we position ourselves to respond to the unprecedented rise in global demand for Real-time 3D enterprise solutions,” said Unai Extremo, CEO, Virtualware.
“The uplisting will allow us to tap into increased liquidity and investor interest and fulfill our Strategic Plan, and open the doors to further, important markets,” he added.
Recently, the company reported audited results showing a 91% increase in its full year 2024 EBITDA to 808,000 euros. Pre-tax profit climbed 1712% to 598,000 euros.
Financial net debt to EBITDA ratio stood at 0.5 times at the end of 2024. Subscription-based services accounted for 41% of total revenue. VIROO XRaaS revenue grew from 590,555 euros in 2022 to 1,288,060 euros in 2023, reaching 1,725,719 euros by the end of 2024 and marking a 192% increase over two years.
Euronext is a federation of exchanges comprising the Paris, Amsterdam, Brussels, Oslo, Milan, Lisbon, and Dublin markets. Meanwhile, Euronext Growth is the marketplace for high-potential SMEs seeking to access European capital. As a multilateral trading platform, it enables simultaneous trading across multiple European financial centers.
Virtualware, founded in 2004 and one of the leading experts in immersive and 3D technology solutions, has seen a 35% increase in the value of the company’s shares since the initial listing in 2023. Virtualware’s current market capitalization is € 36.79 million.
Virtualware’s client base includes GE Vernova, Petronas, Volvo, Gestamp, Alstom, ADIF, Bosch, Biogen, Kessler Foundation, Invest WindsorEssex, McMaster University, the University of El Salvador, Ohio University, the Spanish Ministry of Defense and the Basque Government.
During this period, its software solutions have become synonymous with cutting-edge 3D enterprise.
In October 2024, Virtualware acquired Swedish company Simumatik, expanding its capabilities in digital twin and simulation technologies. This acquisition aligns with the company’s three-year Strategic Plan to support key industries, including energy, automotive, transportation, defense, manufacturing, education, and healthcare.
In 2024, Virtualware also presented a three-year (2024-2026) Strategic Plan featuring expansion in North America, channel-based organic growth, and inorganic acquisitions.
The company’s headquarters are in Bilbao, Spain, with offices in Orlando, US, Toronto, Canada, and Skövde, Sweden.
LKS Next acted as the transaction listing sponsor for the uplisting process. Kepler Cheuvreux will serve as liquidity provider once the company’s shares start trading on Euronext Growth. Pedrosa acted as financial communications and investor relations advisor.
For further information:
Virtualware
ir@virtualwareco.com
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