Company announcement number 8-2024
Thorborg, April 26, 2024
Konsolidator maintains 2024 financial forecasts
In Q1 2024, Konsolidator achieved ARR growth of 4% (YoY). The focus is on preparing and launching growth initiatives, including the establishment of an Iberia sales office and the new Microsoft D365 partner channel. Improving customer churn and increasing direct sales remain top priorities, along with growth initiatives. Konsolidator maintains its financial forecast for ARR of DKK 24 million to DKK 28 million in 2024.
2024 is well underway with Konsolidator signing up seven new customers. However, churn is getting the most attention as Konsolidator also lost his 11 customers in Q1 of 2024. Konsolidator expects churn to improve in the second half of 2024.
In Q1 2024, Konsolidator will launch a Customer Success Academy, which is expected to be implemented in Q2 2024. Furthermore, in March 2024, Konsolidator elected Michael Rasmussen as a new director. Michael has experience building customer success departments as VP of Technology at SaaS company Queue-it.
As stated in the 2023 Annual Report, the combination of growth initiatives, exploration of new business segments for the company's integration engine, and efforts to minimize churn will lead Konsolidator to the 2024 We remain positive about the development of ARR.
“To regain our growth momentum, we have initiated several projects that will benefit us in 2024. These initiatives will increase our ARR and profitability.” CEO Klaus Findup-Globe said:
Financial Highlights for Q1 2024
-
March 31, 2024, ARR DKK 19.4 million compared to DKK 18.6 million on March 31, 2023, corresponding to an increase of 4%.
-
Q1 2024 Revenue DKK 5 million compared to DKK 4.7 million in the first quarter of 2023, representing an increase of 8%.
-
EBIT For Q1 2024 This corresponded to a loss of DKK 2.7 million compared to an EBIT loss of DKK 2.9 million in 2023.
-
Total cash and cash equivalents At March 31, 2024, it amounted to DKK 0.2 million, compared to DKK 0.2 million at the end of March 2023.
-
total capital As of March 31, 2024, we had a negative capital of DKK 1.7 million, compared to a negative capital of DKK 14.8 million in the same period last year. As announced on April 25, 2024, Konsolidator has received active interest from private investors, including its board of directors and management, to participate in a future directed equity issue to reestablish its equity. I am receiving
Outlook
The Company maintains its outlook for 2024 as follows:
-
After arrival Expected to be in the DKK 24-28 million range by the end of 2024
-
revenue It is expected to be in the 23-27m range.
-
EBIT Losses are expected to range from 0 to 5 million DKK.
Investor webinar
An investor webinar will be held on April 30, 2024 at 10.00 (CET). Please use this link to sign up.
contact address
Authenticated advisor
-
Grant Thornton, Jesper Skaarup Vestergaard, Tel +45 3527 5011, www.grantthornton.dk
About Konsolidator
Konsolidator A/S is a financial integration software company whose primary objective is to empower group CFOs around the world through automated financial integration and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator eliminates the complexity of financial consolidation, helping CFOs save time and build on critical performance data that is a critical part of strategic decision-making. and gain actionable insights. Konsolidator was listed on Denmark's Nasdaq First North Growth Market in 2019. Ticker code: KONSOL
attachment
