Agillic announces half-year 2022 results with 34% growth in Total ARR and improved EBITDA for Q2 2022
Announcement no. 14 2022
Copenhagen – 25 August 2022 – Agillic A/S (Nasdaq First North Growth Market Denmark: AGILC) releases its financial results for the first half-year 2022. Total ARR of DKK 64.2 million (up 34% YoY), Total Revenue of DKK 29.6 million (up 14% YoY) and improved EBITDA performance in Q2. Financial guidance for Total ARR, Total Revenue and EBITDA was raised 23 August 2022. Guidance for ARR from Subscriptions remains.
Emre Gürsoy, CEO of Agillic comments
”We have achieved satisfactory growth in H1 2022, delivering strong results in Total ARR of DKK 64.2 million – a 34% increase YoY. The growth is mainly driven by ARR from Transactions, which increased 162% YoY, whilst ARR from Subscriptions increased 15% YoY. Our focus on internationalisation of our client portfolio has also delivered promising results and 38% of clients won in H1 2022 were from international markets.
Our Total Revenue increased 14% YoY and the combination of revenue increase and our operational optimisation efforts have also allowed us to deliver an increased EBITDA in Q2.
Overall business improvement and the projections for the second half of the year are the reasons why we raised our financial guidance for 2022 on 23 August 2022. With our new guidance – vs. 2021 results – we expect to achieve Total Revenue increase between 13% and 21%, Total ARR increase between 18% and 33% and EBITDA increased to between DKK 0 and 3 million.
I am pleased to see our Reboot 2.1 strategy continuously delivering the expected results. Going forward we are fully committed to improve our operational performance and invest further in our international business growth via strong partnerships and a ready-to-integrate best of breed product.
Our three main strategic financial goals towards 2023 remain double-digit percentage growth rate in ARR subscriptions, positive cash flow from operations, and a positive EBITDA.”
Based on the H1 2022 report and the latest development Agillic therefore raised the financial guidance on 23 August 2022 to:
Strategy going forward
As formulated in the Reboot 2.1 strategy, Agillic pursues growth by winning and retaining clients, internationalising through a two-pronged go-to-market model, and cooperating with best-of-breed technology partners and global solution partners. Apart from Denmark, markets of particular interest are the DACH region, Norway, Sweden, and North America. 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, for example, 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
Claus Boysen, CFO, Agillic A/S
+45 28 49 18 46
John Norden, Norden CEF
2840 Holte, Denmark
+ 45 20 72 02 00
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.
The information was published via agent by Agillic A/S on 25 August 2022.
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.