Company Announcement No. 11-2023
At the end of 2023-Q3,
Financial highlights on
- ARR increased by 38% to
DKK 28.1M , fromDKK 20.4M on30 September 2022 -
Net ARR growth for Q3-2023 YTD of
DKK 5.5M , compared toDKK 3.8M in Q3-2022 YTD -
Uplift was 19% YoY, compared to 15% in the 12-month period ending
30 September 2022 -
Churn was 6% YoY compared to 2% in the 12-month period ending
30 September 2022 - Net Revenue Retention was 113%, the same level as in the 12-month period ending
30 September 2022 -
Revenue for Q3-2023 YTD increased by 41% to
DKK 19.9M , compared to the same period in 2022 -
EBITDA for Q3-2023 YTD was negative
DKK 9.4M , compared to negativeDKK 14.9M for the same period in 2022
With ARR growth of 38% YoY, low churn, and strong uplift from existing customers,
After a period with an extraordinarily low churn, the level has increased to 6% YoY, which is still considered low. Churn for the full year is projected to reach 8%, before we expect a decrease in the following periods. The potential to expand current customers remains strong.
While we still see longer decision times from potential customers, we anticipate performance in 2023-Q4 in line with our expectations.
As communicated in our 2023-H1 report, the EU's Corporate Sustainability Reporting Directive (CSRD) has crystalized the importance of ESG reporting processes for many companies. Working with KPMG Denmark, we have updated our product offering to address companies' requirements for robust reporting processes that are up to date with the latest guidance from the EU.
Conversations with existing and potential customers confirm the need for reliable reporting processes. Treating ESG data as financial data will continue to increase into the future, and
At the same time, we continue to see interest in our templated solution for tax compliance management offered in partnership with KPMG Germany, as well as the templated solution for financial compliance developed in collaboration with Basico, a leading Nordic consulting firm within the CFO domain. With the templated solutions, we build on the strong platform we already have - while opening up for wider opportunities in the market.
"I am pleased with our improved cash efficiency, which shows our ability to scale commercial reach with our current foundation. We continue to onboard large corporations, and simultaneously increase our focus on templated solutions as we strive to help even more companies embrace the opportunities that come with being compliant. That is our contribution to increase trust - a global currency that cannot be devalued," says CEO
Organization
While we agreed to part ways with our former Chief Sales Officer Giuseppe Geresia in 2023-Q3, we retain strong sales leadership in our key regions.
During 2023-Q3 we were pleased to welcome key hires to our Product and Commercial teams who bring strategic competencies that we believe will strengthen
Capital
With reference to the 2023-H1 report,
Financial guidance
Read the Report in its entirety via Impero.com/investors or in the attached.
CEO
Register for the webinar via: inderes.dk/videos/impero-praesentation-af-q3-2023
For further information, please contact:
Mobile: (+45) 25 88 41 02
E-mail: rss@impero.com
or
Mobile: (+45) 51 17 67 80
E-mail: mln@impero.com
Certified Adviser
Mobile: (+45) 31 79 90 00
ABOUT
Impero A/S is a
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https://news.cision.com/impero-a-s/r/impero-releases-2023-q3-report--achieved-38--growth-in-arr--yoy--for-the-first-three-quarters-of-the,c3875337
https://mb.cision.com/Main/20404/3875337/2427900.pdf
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