Genexis

Netherlands · www.genexis.eu · 22 vendors

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 22 sub-vendors.

Insights

Last updated 2026-08-11 · revision 1

22 direct vendors, 235 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 7/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Genexis shows a good foundation for migration readiness, primarily driven by its modern and flexible technology stack. The use of OpenWRT as a firmware base, adherence to TR-369 (USP) for device management, and involvement with the prpl Foundation indicate a commitment to open standards and modularity, which facilitates easier transitions and integrations. The CloudSight Suite, offering managed hosting and device management, suggests an existing comfort with distributed services and potentially cloud-like infrastructure. The geographic diversity of vendor HQs across 7 countries for the 23 services could also simplify migration by reducing reliance on a single regional vendor ecosystem. Furthermore, "Data Residency Requirements: Not specified" might offer greater flexibility in choosing migration targets. However, significant challenges and uncertainties remain. There is no explicit information on whether Genexis's internal operations are cloud-native, containerized, or utilize microservices, which are key indicators of advanced migration readiness. The lack of data on financial stability makes it impossible to assess the company's capacity to fund a major migration initiative. Most critically, the "Vendor Lock-in Risk" is unknown. If there is significant lock-in with any of the 23 services, it could introduce substantial complexity and cost to any migration efforts. The absence of regulatory environment details also leaves potential compliance hurdles unaddressed.

Compliance

9 in-scope frameworks identified; showing 3.

ISO 27001 (source) — Assessment Required

ISO 27001 is highly relevant for Genexis as a technology manufacturer supplying critical network infrastructure to telecom operators. Risk is Medium because: (1) telecom operator customers (who are NIS2 Essential Entities) increasingly require ISO 27001 certification from hardware suppliers as part of supply chain security due diligence; (2) ISO 27001 is the de facto standard for information security in the EU tech sector; (3) without certification, Genexis may face competitive disadvantage or fail supplier qualification processes; (4) risk is not 'High' because ISO 27001 is voluntary (not legally mandated), though NIS2 supply chain requirements create indirect pressure.

Evidence: https://www.genexis.eu/, https://www.iso.org/isoiec-27001-information-security.html, https://iaf.nu/en/iaf-certsearch/

Dutch Telecommunications Act — Assessment Required

As a Netherlands-based supplier of CPE to Dutch and European telecom operators, Genexis operates within the regulatory framework of the Dutch Telecommunications Act (implementing the European Electronic Communications Code, EECC — Directive 2018/1972). Risk is Medium because: (1) Genexis is primarily a hardware supplier, not a telecom operator, so direct obligations are limited; (2) however, their CPE products must comply with interoperability and technical standards required by the EECC; (3) their telecom operator customers are directly regulated and will pass down compliance requirements contractually.

Evidence: https://wetten.overheid.nl/BWBR0009950/, https://www.acm.nl/nl/onderwerpen/telecommunicatie, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32018L1972

RoHS Directive — Assessment Required

RoHS is mandatory for all electronic equipment manufacturers placing products on the EU market. As a hardware manufacturer, Genexis must comply with RoHS restrictions on hazardous substances in their fiber gateways and routers. Risk is Medium because: (1) this is a standard compliance requirement for all EU electronics manufacturers; (2) non-compliance results in market withdrawal and fines; (3) established manufacturers typically have RoHS compliance processes in place, but evidence of formal compliance has not been publicly confirmed.

Evidence: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32011L0065, https://environment.ec.europa.eu/topics/waste-and-recycling/rohs-directive_en

Financials

Three-year financials

Financial Resilience Score: 3/10

Genexis Group AB is a mid-sized European fiber-broadband CPE specialist with reasonable underlying operating fundamentals — mid-30s gross margin and ~10% adjusted EBITDA margin — supported by structural tailwinds from EU fiber rollout, copper switch-off, and the EU Gigabit Infrastructure Act. The company holds market-leading positions (15-60% share) in core European FTTH markets in Benelux, DACH, and the Nordics, and benefits from long-term supportive shareholders including Accent Equity, Unigestion, Schelp, and Simac. However, the financial position at year-end 2025 is severely stressed. The group posted negative equity of -€20.7M following €26M of goodwill impairments, breached a bank covenant with Nordea, suspended interest payments on its €55M sustainability-linked bond (with €3.4M accrued unpaid interest), and reported an adjusted leverage ratio of 7.7x. Total borrowings stand at €70.2M against declining revenue (-5.6% in 2025). Management explicitly flagged in Note 3 that if the proposed refinancing ('Project Rowe') does not materialize, the company may not be able to continue operations. A 10-15% cost-savings program was launched in February 2026, and 2026 revenue is guided flat. The resilience score reflects severe near-term financial distress partially offset by supportive shareholder backing and viable underlying operations.

Key strengths: Market-leading positions (15-60% share) in Benelux, DACH, and Nordic FTTH markets, Structural tailwinds from EU Gigabit Infrastructure Act and copper switch-off, Long-term supportive shareholders reaffirming backing in June 2026, Reasonable gross margins (~38%) and adjusted EBITDA margin (~10.6%), Diversified European footprint with expansion into US and UK, ESG credentials: EcoVadis Gold, Science-Based Targets validated

Risk factors: Negative group equity of -€20.7M at year-end 2025, Covenant breach with Nordea AB on Super Senior Debt/EBITDA ratio, Suspended interest payments on €55M sustainability-linked bond (€3.4M accrued unpaid), High leverage: adjusted leverage ratio 7.7x, total borrowings €70.2M, €26M goodwill impairment in 2025 (€17m FTTH, €9m Connected Home), Going concern risk explicitly flagged pending refinancing (Project Rowe), Revenue decline of 5.6% in 2025, flat guidance for 2026, FX exposure: purchases in USD, sales largely in EUR, Cyclical demand with customers delaying orders

Revenue by geography

Revenue by product/service

Workforce by country

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