Connections (stock symbol CC), a Romanian technology company listed on the AeRO market of the Bucharest Stock Exchange, announces its financial results for the third quarter of 2025.
In the first nine months of 2025, the company recorded a solid performance across its key financial indicators, with group-level revenues reaching 111.1 million RON, up 76% compared to the first nine months of 2024 and 38% above budget estimates.
This performance is driven by the expansion of the public sector project portfolio, which now accounts for 60% of total revenue, and by the consolidation of the private software segment (40% of revenues). Together, these pillars ensure a stable financial balance for Connections and create strong fundamentals for continued growth.
At the financial efficiency level, Connections reached a gross profit of 32.4 million RON and a net profit of 31.2 million RON, significantly higher than in the previous year.
Connections’ financial results for the first nine months of the year also show a strong anchoring in the company’s strategic growth path: the company maintains a double-digit profitability level, in line with the commitment made in 2024. The gross profit margin thus reaches 29%, reflecting the group’s steadily increasing financial efficiency.
“Our business model is built to generate recurring and sustainable revenues that can support medium- and long-term growth, and the Q3 results confirm the strength of this approach. 2025 remains a year marked by pressure on the economic environment, but even in this context we managed to increase our gross margin to 29%. Our success is based on the financial discipline we maintain across all business lines and on our long-term development vision,” said Bogdan Florea, founder and co-CEO of the company.
Connections’ results in Q3 2025 were driven primarily by the accelerated pace of project implementation and by internal process optimization, which enabled faster revenue recognition compared to the initial schedule. Although part of the profit increase was influenced by the recognition of revenues from the sale of the Service Delivery business line (BPO and ITO), excluding this impact, the group’s financial performance remains above the level recorded in the same period of 2024, confirming the positive trend of its core activities.
Looking at the structure of service lines, in the first nine months of 2025 the company recorded a notable shift in revenue distribution, driven by the increased share of public software projects, which rose from 37% in the same period of 2024 to 60% of total revenues. The private segment also recorded positive dynamics, exceeding the 6% level from 2024, supported by the expansion of the commercial contract portfolio and the strengthening of relationships with existing partners. RPA and Outsourcing services maintained a relatively stable contribution, while in 2025 the company operationalized a new support center, which generates approximately 3% of total revenues and provides technical and operational support for hybrid (public–private) projects.
Radu Marcu, Co-CEO Connections: “We remain anchored in innovation and operational efficiency, turning market challenges into real opportunities for differentiation and sustainable growth. Romania has significant medium and long-term development potential, and the complex projects integrating artificial intelligence – initiated by both public authorities and the private sector – show that the direction is the right one: meaningful digitalization. Our participation in some of these projects confirms our role as a relevant technology partner, able to bring added value and deliver solutions that turn innovation into concrete progress for the benefit of communities and citizens.”
Looking ahead, the company continues the phase of sustainable evolution and scaling that began in 2024, building on the experience and clarity gained over its 20 years in the local and international markets. It also maintains its commitment to the #TechHumanityForward vision, through which it continuously drives meaningful innovation for people and communities.
The full report on Connections’ Q3 2025 results can be accessed HERE.
The company’s financial performance for the third quarter will be the topic of the online conference dedicated to Connections analysts and investors, on November 19, between 11:00–12:00. The event will be transmitted live on the official Connections pages on Facebook and LinkedIn.
