Agillic A/S releases its financial results for the first half-year 2023. EBITDA increased to DKK 1.0m (up DKK 2.7m vs. H1 2022) and Revenue increased 10% to DKK 32.7m
Announcement no. 12 2023
Copenhagen – 24 August 2023 – Agillic A/S (Nasdaq First North Growth Market Denmark: AGILC) releases its financial results for the first half-year 2023. EBITDA increased to DKK 1.0 million (up DKK 2.7 million vs. H1 2022) and Revenue increased 10% to DKK 32.7 million.
Emre Gürsoy, CEO of Agillic comments
“Agillic’s ability to swiftly adapt to evolving market conditions contributed to enhancing our profitability, enabling us to sustain our growth momentum effectively.
Agillic increased EBITDA to DKK 1.0 million (up DKK 2.7 million vs. H1 2022) and increased ARR from subscriptions to DKK 54.9 million (up 11% vs H1 2022), while Total ARR increased 3% due to ARR from transactions declining, leading to an increase of 10% in Total Revenue to DKK 32.7 million. With that, I am pleased to confirm that we, thanks to our unique operational excellence, continue to strengthen our sustainable growth trajectory.
We closed H1 2023 with a promising financial performance, a scalable international business model and future readiness through a ready-to-integrate best-of-breed platform.
Our main strategic financial goals remain double-digit growth in ARR subscriptions, positive cash flow from operations, a positive EBITDA as well as cash-EBITDA positive in 2024.”
1. Cash is defined as available funds less bank overdraft withdrawals.
2. ARR Annual Recurring Revenue is defined as the annualised value of subscription agreements and transactions at the end of the actual reporting period.
Financial guidance 2023
Based on the latest developments, Agillic changed the financial guidance on 23 August 2023 to:
Strategy going forward
We will continue to execute our Reboot 2.1 strategy and pursue a financial goal of ‘Positive cash-adjusted EBITDA’ by 2024.
Agillic continues its focus on internationalisation through a two-pronged go-to-market model, and cooperation with best-of-breed technology partners and global solution partners. Apart from Denmark, markets of particular interest are the DACH region, Norway, Sweden. Our target clients are digitally mature and data-driven B2C-businesses in industries such as retail, finance, travel & leisure, NGO and charities, and subscription businesses in e.g. entertainment & gaming, energy and utilities, media & publishing, and technology, software & cloud.
For further information, please contact:
Emre Gürsoy, CEO, Agillic A/S
+45 30 78 42 00
emre.gursoy@agillic.com
Claus Boysen, CFO, Agillic A/S
+45 28 49 18 46
claus.boysen@agillic.com
Certified Adviser
John Norden, Norden CEF A/S
Disclaimer
The forward-looking statements regarding Agillic’s future financial situation involve factors of uncertainty and risk, which could cause actual developments to deviate from the expectations indicated. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the presented outlook. Furthermore, some of these expectations are based on assumptions regarding future events, which may prove incorrect. Please also refer to the overview of risk factors in the ‘risk management’ section of the annual report.
About Agillic A/S
Agillic is a Danish software company offering brands a platform through which they can work with data-driven insights and content to create, automate and send personalised communication to millions. Agillic is headquartered in Copenhagen, Denmark, with sales and R&D teams in Berlin, Malmö, Oslo, Cluj-Napoca and Kyiv.
For further information, please visit www.agillic.com
Agillic A/S (publ) (Nasdaq First North Growth Market Denmark: AGILC) is obligated to publish the above information in compliance with the EU Market Abuse Regulation Article 17.
The information was published via agent by Agillic A/S on 24 August 2023.
1. Cash is defined as available funds less bank overdraft withdrawals.
2. ARR, i.e., the annualised value of subscription agreements and transactions at the end of the actual reporting period.
3. Average ARR, i.e. the average Total ARR per client.
4. Customer Acquisition Costs (CAC), i.e., the sales and marketing cost (inclusive salaries, commissions, direct and share of costs of office) divided by the number of new clients. CAC is calculated end of year.
5. Months to recover CAC, i.e., the period in months it takes to generate sufficient gross profit from a client to cover the acquisition cost.
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