Announcement no. 16 2022
Copenhagen – 14 October 2022 – Agillic A/S (Nasdaq First North Growth Market Denmark: AGILC) releases its monetary results for Q3 2022. Total ARR of DKK 69.9 million (up 36% YoY), Total Revenue of DKK 46.6 million (up 19% YoY) and constructive EBITDA of DKK 1.4 million in Q3. Financial steering for Total ARR and Total Revenue was raised on 12 October 2022. Guidance for ARR from Subscriptions and EBITDA stay unchanged.
Emre Gürsoy, CEO of Agillic feedback
”We continued to see passable growth in Q3 2022, ensuing in a robust Total ARR of DKK 69.9 million, equal to a 36%-increase YoY. The constructive growth in ARR from Transactions continued all through Q3 2022 and elevated 169% YoY, while ARR from Subscriptions elevated 14% YoY. Our concentrate on internationalisation of our consumer portfolio has delivered promising results, and 44% of the shoppers received to date this yr have been from worldwide markets.
Our Total Revenue elevated 19% YoY and regardless of rising value costs, our operational optimisation efforts have resulted in an improved EBITDA of DKK 1.4 million in Q3 2022, which is a rise of DKK 0.8 million in comparison with Q3 2021.
The Cash place on the finish of Q3 2022 was DKK 1.9 million and in line with our expectations. As introduced in H1 2022, the compensation of two loans in Q3 2022 of DKK 2.5 million has been accomplished, and we’ve continued the deliberate investments in our platform totalling DKK 3.3 million. Cash movement from operations is detrimental as a result of seasonality of contract renewals, whereas This fall 2022 can be constructive and absolutely aligned with our Reboot 2.1 technique of constructive money movement from operation at yr finish.
Timely concentrate on adapting to unstable market situations and steady buyer focus are the two important the explanation why we raised our monetary steering for 2022 on 12 October 2022. With our new steering, we count on to realize a rise in Total Revenue of 16%-23% relative to our 2021 results, Total ARR is predicted to extend 22%- 36%, and EBITDA is predicted to be constructive between DKK 0 and three million.
I’m happy to see the dedication and large efforts from our workers, which has contributed to the constructive developments. Going ahead, we stay absolutely dedicated to bettering our operational efficiency and investing additional in our platform whereas specializing in worldwide business growth through robust partnerships.
Our three important strategic monetary objectives for 2023 stay double-digit proportion growth in ARR subscriptions, constructive money movement from operations, and a constructive EBITDA.”
Key figures and ratios
| 2022 | 2021 | 2022 | 2021 | |||
| DKK million | YTD | YTD | Change | Q3 | Q3 | Change |
| INCOME STATEMENT | ||||||
| Revenue subscriptions | 35.5 | 34.2 | 4% | 12.2 | 11.0 | 11% |
| Revenue transactions | 10.7 | 4.0 | 169% | 4.8 | 1.8 | 163% |
| Other income | 0.4 | 0.8 | -57% | 0.0 | 0.3 | -99% |
| Total income | 46.6 | 39.0 | 19% | 17.0 | 13.1 | 30% |
| Gross revenue | 34.1 | 34.4 | -1% | 11.4 | 11.1 | 2% |
| Gross margin | 73% | 88% | – | 67% | 85% | – |
| Employee prices | -23.2 | -23.2 | 0% | -7.3 | -8.0 | -9% |
| Operational prices | -11.2 | -8.0 | 40% | -2.7 | -2.8 | -1% |
| EBITDA | -0.3 | 3.2 | – | 1.4 | 0.4 | 265% |
| Net revenue | -8.6 | -5.9 | 45% | -1.2 | -3.1 | -60% |
| FINANCIAL POSITION | ||||||
| Cash | 1.9 | 18.6 | -90% | 1.9 | 18.6 | -90% |
| ARR DEVELOPMENT | ||||||
| ARR subscriptions | 50.3 | 44.1 | 14% | 50.3 | 44.1 | 14% |
| ARR transactions | 19.6 | 7.3 | 169% | 19.6 | 7.3 | 169% |
| Total ARR1 | 69.9 | 51.4 | 36% | 69.9 | 51.4 | 36% |
| Change in ARR (DKK) | 18.5 | 7.3 | 18.4 | 7.3 | ||
| Change in ARR (%) | 36% | 13% | 36% | 13% |
1. Cash is outlined as out there funds much less financial institution overdraft withdrawals.
2. ARR, i.e., the annualised worth of subscription agreements and transactions on the finish of the particular reporting interval.
3. Average ARR, i.e. the common Total ARR per consumer.
4. Customer Acquisition Costs (CAC), i.e., the gross sales and advertising value (inclusive salaries, commissions, direct and share of prices of workplace) divided by the variety of new shoppers. CAC is calculated finish of yr.
5. Months to get well CAC, i.e., the interval in months it takes to generate adequate gross revenue from a consumer to cowl the acquisition value.
Financial steering
Based on the Q3 2022 report and the newest developments, Agillic raised the monetary steering on 12 October 2022 to:
| DKK million | 2022 |
| Revenue | 61 – 65 |
| EBITDA | 0 – 3 |
| ARR Subscriptions | 56 – 60 |
| ARR Transactions | 12 – 16 |
| Total ARR | 68 – 76 |
Strategy going ahead
As formulated in the Reboot 2.1 technique, Agillic pursues growth by profitable and retaining shoppers, internationalising via a two-pronged go-to-market mannequin, and cooperating with best-of-breed know-how companions and world answer companions. Apart from Denmark, markets of explicit curiosity are the DACH area, Norway, Sweden, and North America. Our goal shoppers are digitally mature and data-driven B2C-businesses in industries comparable to retail, finance, journey & leisure, NGO and charities, and subscription companies in, for instance, leisure & gaming, power and utilities, media & publishing, and know-how, software program & cloud.
For additional data, please contact:
Emre Gürsoy, CEO, Agillic A/S
+45 30 78 42 00
[email protected]
Claus Boysen, CFO, Agillic A/S
+45 28 49 18 46
[email protected]
Certified Adviser
John Norden, Norden CEF A/S
Disclaimer
The forward-looking statements concerning Agillic’s future monetary scenario contain components of uncertainty and threat, which might trigger precise developments to deviate from the expectations indicated. Statements concerning the long run are topic to dangers and uncertainties that will end result in appreciable deviations from the offered outlook. Furthermore, a few of these expectations are primarily based on assumptions concerning future occasions, which can show incorrect. Please additionally consult with the overview of threat components in the ‘risk management’ part of the annual report.
About Agillic A/S
Agillic is a Danish software program firm providing manufacturers a platform via which they will work with data-driven insights and content material to create, automate and ship personalised communication to thousands and thousands. Agillic is headquartered in Copenhagen, Denmark, with gross sales and R&D groups in Berlin, Malmö, Oslo, Cluj-Napoca and Kyiv.
For additional data, please go to www.agillic.com
The data was printed through agent by Agillic A/S on 14 October 2022.
Appendix: Financial growth per quarter
| 2022 | 2021 | 2020 | |||||||||||||||||||
| DKK million | Q3 | Q2 | Q1 | This fall | Q3 | Q2 | Q1 | This fall | Q3 | Q2 | Q1 | ||||||||||
| INCOME STATEMENT | |||||||||||||||||||||
| Revenue subscriptions | 12.2 | 12.2 | 11.1 | 10.8 | 11.0 | 11.9 | 11.3 | 10.5 | 10.5 | 10.8 | 12.0 | ||||||||||
| Revenue transactions | 4.8 | 3.3 | 2.6 | 2.7 | 1.8 | 1.2 | 1.0 | 1.4 | 1.0 | 0.8 | 2.2 | ||||||||||
| Other income | 0.0 | 0.1 | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.5 | 0.2 | 0.1 | 0.5 | ||||||||||
| Total income | 17.0 | 15.6 | 14.0 | 13.8 | 13.1 | 13.3 | 12.6 | 12.4 | 11.7 | 11.7 | 14.7 | ||||||||||
| Gross revenue | 11.4 | 11.7 | 11.0 | 10.7 | 11.1 | 12.1 | 11.2 | 10.7 | 10.6 | 11.1 | 11.9 | ||||||||||
| Gross margin | 67% | 75% | 79% | 78% | 85% | 91% | 89% | 87% | 91% | 94% | 81% | ||||||||||
| EBITDA | 1.4 | 0.0 | -1.7 | -2.6 | 0.4 | 2.2 | 0.7 | 0.5 | -0.4 | 0.6 | -0.4 | ||||||||||
| Net revenue | -1.2 | -2.7 | -4.7 | -4.6 | -3.1 | -0.5 | -2.3 | -1.4 | -3.4 | -0.5 | -2.7 | ||||||||||
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| BALANCE SHEET | |||||||||||||||||||||
| Cash | 1.9 | 12.6 | 7.5 | 20.6 | 18.6 | 22.0 | 23.8 | 16.3 | 14.8 | 15.2 | -6.1 | ||||||||||
| Total belongings | 54.0 | 58.7 | 55.4 | 61.6 | 65.7 | 69.5 | 67.2 | 63.8 | 55.7 | 59.3 | 38.4 | ||||||||||
| Equity | -13.2 | -12.0 | -9.6 | -4.5 | 1.0 | 2.9 | 3.2 | -5.8 | -4.6 | -1.4 | -18.7 | ||||||||||
| Borrowings | 23.7 | 26.1 | 26.4 | 27.2 | 28.2 | 28.6 | 29.0 | 28.9 | 28.9 | 28.3 | 28.5 | ||||||||||
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| CASH FLOW | |||||||||||||||||||||
| Cash movement from operations | -4.9 | 9.0 | -8.3 | 6.1 | 0.0 | 1.2 | -1.6 | 5.0 | 1.7 | -1.7 | -4.4 | ||||||||||
| Cash movement from investments | -3.3 | -3.7 | -3.2 | -2.0 | -3.8 | -2.5 | -2.8 | -7.6 | -3.2 | -2.8 | -3.3 | ||||||||||
| Cash movement from financing | -2.5 | -0.3 | -1.6 | -2.0 | 0.4 | -0.5 | 11.8 | 4.2 | 1.0 | 25.9 | 5.5 | ||||||||||
| Net money movement | -10.7 | 5.0 | -13.1 | 2.1 | -3.4 | -1.8 | 7.4 | 1.6 | -0.5 | 21.4 | -2.2 | ||||||||||
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| EMPLOYEES & CLIENTS | |||||||||||||||||||||
| Employees finish of interval | 47 | 51 | 47 | 44 | 47 | 49 | 50 | 53 | 57 | 61 | 64 | ||||||||||
| Clients finish of interval | 111 | 108 | 105 | 97 | 92 | 91 | 86 | 82 | 79 | 83 | 84 | ||||||||||
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| ARR & SAAS METRICS | |||||||||||||||||||||
| ARR subscriptions | 50.3 | 49.6 | 48.5 | 45.7 | 44.0 | 43.2 | 42.4 | 40.7 | 40.1 | 43.6 | 47.0 | ||||||||||
| ARR transactions | 19.6 | 14.6 | 10.3 | 10.0 | 7.3 | 4.8 | 4.2 | 5.8 | 4.1 | 3.3 | 8.9 | ||||||||||
| Total ARR2 | 69.9 | 64.2 | 58.8 | 55.7 | 51.3 | 48.0 | 46.6 | 46.5 | 44.2 | 46.9 | 55.8 | ||||||||||
| Change in ARR (DKK) | 5.7 | 5.4 | 3.1 | 4.4 | 3.3 | 1.4 | 0.1 | 2.3 | -2.7 | -8.9 | 0.8 | ||||||||||
| Average ARR3 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.5 | 0.5 | 0.6 | 0.6 | 0.6 | 0.7 | ||||||||||
| Yearly CAC4 | 0.3 | 0.5 | |||||||||||||||||||
| Months to get well CAC5 | 8 | 12 | |||||||||||||||||||
1. ARR, i.e. the annualised worth of subscription agreements and transactions on the finish of the particular reporting interval
- CA 16 Financial report Q3 2022
