ARR Subscriptions and Revenue Subscriptions decreased 4% YoY, while EBITDA improved to DKK 0.6 million

Announcement no. 04 2024Copenhagen – 7 May 2024 – Agillic A/S In Q1, ARR Subscriptions decreased 4% YoY and 10% vs. Q4 2023 due to clients' technology consolidations and M&A driven changes. Agillic maintains its 2024 guidance due to expected growth from both existing clients and new sales. Cost changes have been implemented to mitigate risk with 41 employees at the end of Q1 versus 50 at the end of Q4 2023. A slight increase in employees is expected towards the end of 2024 and mainly...

Copenhagen, 07/05/2024 (informazione.it - comunicati stampa - information technology)

Announcement no. 04 2024

Copenhagen – 7 May 2024 – Agillic A/S

In Q1, ARR Subscriptions decreased 4% YoY and 10% vs. Q4 2023 due to clients' technology consolidations and M&A driven changes. Agillic maintains its 2024 guidance due to expected growth from both existing clients and new sales. Cost changes have been implemented to mitigate risk with 41 employees at the end of Q1 versus 50 at the end of Q4 2023. A slight increase in employees is expected towards the end of 2024 and mainly within Sales.

Key financial and SaaS highlights

ARR
The decrease in Q1 ARR subscriptions was mainly driven by clients' technology consolidations and M&A driven changes. Agillic expects to have seen most of the impact for 2024 in Q1.

The decrease in transactions is mainly due to clients' seasonality, ARR Transactions decreased 49% YoY and 28% in Q1 vs. Q4 2023.

Total ARR decreased 15% YoY and 13% vs. Q4 2023.

Revenue
Q1 total revenue decreased 9% YoY and 4% vs. Q4 2023, driven mainly by clients' seasonality impacting revenue from transactions.

EBITDA
EBITDA increased to DKK 0.6 million in Q1 2024 (DKK 0.0 million Q1 2023) by adapting the cost structure to current activity level.

Business development
Headcount at the end of Q1 2024 was 41 (vs. 50 at the end of Q4 2023), reflecting that Agillic adapted the cost structure to match the ARR activity. The number, however, is excepted to slightly increase during the rest of 2024 and primarily by focus on investments in the Sales organisation. Cash amounted to DKK 7.2 million at the end of Q1 in line with expectations.

Financial guidance 2024 (unchanged)

For further information, please contact:
Emre Gürsoy, CEO
+45 30 78 42 00
emre.gursoy@agillic.com

Claus Boysen, CFO
+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 teams in Germany. Norway. and Romania.

For further information, please visit www.agillic.com   

Appendix: Financial development per quarter

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