The AI, data and digital engineering company twoday has published its annual report for 2024, presenting a total revenue of €387.9 million across all countries. This represents an increase in revenue with €30.4 million compared to 2023. 2024 also showed a strong unadjusted EBITDA of €43.9 million, which is an increase of nearly 10 % from the previous year and margin of 11.3 %.
“We set ourselves some very ambitious goals for 2024. Despite the uncertainties that have impacted the markets, we increased our revenue with 8.5 %. This shows that our more than 3.000 colleagues do an incredible job every day, and that our clients have great trust in our expertise and our ability to create impactful solutions together with them,” says Christian Pedersen, CEO of twoday.
Investments for the future
Throughout 2024, twoday has strengthened its vision and strategy and invested in developing a common company platform. These investments, along with the growth of teams and process refinement, have laid a solid foundation for the future.
“Our investments in 2024 have given us a strong platform for the opportunities ahead and further positioned twoday in the market. One of the milestones in 2024 was the acquisition of Kaito, a Nordic leader in data, AI, and analytics - and the only Snowflake Elite partner in Northern Europe. Following the acquisition, we are now approx. 700 data and AI experts across twoday. This means that we have strengthened our ability to help our clients capture the full potential of AI and data innovations and progress as they continue to evolve,” said Christian Pedersen.
In 2024 twoday also invested in new offices for its employees.
“We have chosen to invest in new offices because we believe it’s crucial to offer the best possible working environment to attract top talent and, ultimately, create more value with and for our customers. A key highlight of the year was bringing together our Copenhagen offices into new headquarters by the harbor, uniting our local experts together under one roof. This new setting fosters stronger collaboration, faster communication, and a shared culture, enhancing both customer and employee experience, productivity, and innovation,” Christian Pedersen explains.
Positive trends on the horizon
Even though 2025 began with macroeconomic headwinds affecting customer spending and investment decisions, twoday remains optimistic about the outlook for 2025.
“In a world striving towards new levels of productivity and modernization, the role of data, AI, and digitalization as core drivers of digital transformation will only continue to grow. With our colleagues’ deep expertise and the investments made, we have all the right conditions to seize these opportunities and achieve even greater success. However, we need to be aware of the uncertainties, including geopolitical risks, that could impede with our short-term growth,” said Christian Pedersen. He ends:
“Already, we’re seeing positive market trends and a growing demand for more AI-driven, data-centric and digitally engineered solutions in both the public and private sectors. This is why we expect revenue growth between 5 % and 10 % in 2025, and an adjusted EBITDA margin between 13 % and 15 %.”
Read the full 2024 Annual Report here.