Tech

Altada assured investors of annual €40m profits by 2024

A presentation prepared for potential investors claimed the Cork-based tech firm’s overall revenues would increase tenfold in just four years

Allan Beechinor and Niamh Parker, co-founders of Altada, projected it would generate earnings (Ebitda) of €29.2 million for 2022. Picture: John Allen

Altada, the Cork-based tech company that has run into financial difficulty over recent months, told investors last year that it was on track to make annual profits of more than €40 million by 2024, documents seen by the Business Post show.

In a slide deck prepared for prospective investors ahead of its pre-Series A funding round in October last year, the company forecast overall revenues would increase tenfold in just four years to almost €100 ...