Key Highlights
- Ekinops' Q1 revenue increased by 8% sequentially to $32.3 million, driven by growth in SASE and software segments.
- Software and Services now account for 20% of revenue, up from 18%, with ARR rising 5% to $18.3 million.
- Connectivity and SASE Networks sales grew 14% sequentially, supported by acquisitions like Olfeo and Chimere.
- The company is targeting profitable growth in 2026, with new DCI and SASE solutions expected by year-end.
- Ekinops is in advanced discussions with a European telecom for a large-scale optical network deployment based on WDM technology.
Ekinops saw its fortunes turn for the better in the first quarter, with consolidated revenue of $32.3, up 8% sequentially, marking a second consecutive quarter of improvement during what has been a transitional time for the French optical company.
However, revenue was down 3% year-over-year compared to the first quarter of 2025.
While Ekinops saw growth in its SASE and software segments, optical networking remained flat due to delays from the BEAD (Broadband Equity, Access, and Deployment) program.
With its new CEO, Lionel Chmilewsky, in place, Ekinops has indicated that the company has set a path for profitable growth.
“Ekinops aims to return to growth in 2026 gradually and confirms its ability to achieve single-digit revenue growth for the full year, notably supported by the first deliveries of new DCI and SASE solutions expected by the end of 2026,” Ekinops said in its earnings release.
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Here are other stories on Ekinops:
· Ekinops’ Q4 cloud gains offset by year-over-year access, optical declines
· Ekinops taps former TrustBuilder, Corero exec Lionel Chmilewsky as its new CEO
· Ekinops’ CEO departs amidst Q3 revenue decline and challenging outlook
· Ekinops says its European manufacturing focus helps it mitigate tariff effects
· Ekinops’ Q4 gains in access, software offset by optical networking declines
SASE, software lead growth
Ekinops’ fourth-quarter growth was driven by gains in both its Connectivity and SASE Networks and Software and Services segments.
Software and Services sales rose 6%. Software and Services represented 20% of the company’s revenue in the first quarter, up from 18% a year earlier.
As of the end of this March, Annual Recurring Revenue (ARR) amounted to 18.3 million, up 5% compared to the end of December 2025.
Likewise, Connectivity and SASE Networks solutions sales reported sequential growth of 14% in the first quarter of 2026 compared to the fourth quarter of 2025, confirming what the company said was a return to stronger activity observed since the end of last year, particularly in France.
The company has also been bolstering its Connectivity and SASE Networks unit through targeted acquisitions.
Olfeo, the French provider of SSE (Secure Service Edge) cybersecurity software, which it purchased last year, contributed $1.9 million to revenue in the quarter.
Also, Ekinops’ acquisition of Chimere, a French cybersecurity start-up that has developed a universal ZTNA (Zero Trust Network Access) solution enabling the secure interconnection of all endpoints with enterprise resources, will have an impact in the future, as it aligns with the company’s network security strategy.
“Combined with Olfeo’s offering, it is intended to accelerate Ekinops’ positioning in the fast-growing SSE and SASE segments, while creating cross-sell opportunities by ideally complementing its portfolio of European sovereign digital solutions in SD-WAN, Firewall, and ZTNA,” Ekinops said.
Optical remains flat
Optical Networks activity was stable at the start of the year (flat vs. Q4 2025), Ekinops reported: “solid momentum in Europe (excluding France).”
However, in the United States, activity increased sequentially but has yet to reflect the expected impact from the rollout of the federal BEAD (Broadband Equity, Access, and Deployment) program.
Another potential contributor to optical growth could be found with a key large European customer. While it did not reveal the identity of the service provider, Ekinops said that, at the end of March, it signed a Memorandum of Understanding with a tier-1 European telecom operator for the deployment of a large-scale optical network based on WDM technology.
In addition to the telecom infrastructure systems, Ekinops would also provide its network management solution based on its Celestis platform, along with associated software and professional services.
The company said that “ongoing advanced discussions with this European telecom operator aim to finalize a multi-year framework agreement in the coming months."
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About the Author
Sean Buckley
Sean is responsible for establishing and executing the editorial strategy of Lightwave across its website, email newsletters, events, and other information products.