Konsolidator maintains its financial expectations for 2024

Company announcement no 8-2024 Konsolidator maintains its financial expectations for 2024 In Q1 2024, Konsolidator delivered ARR growth of 4% (YoY). The focus has been on establishing our Iberia sales office and preparing and launching the growth initiatives, including the new Microsoft D365 partner channel. Improving churn and increasing direct sales remain top priorities together with the growth initiatives. Konsolidator maintains its financial expectations of DKK 24-28m in ARR in 2024...

Søborg, 26/04/2024 (informazione.it - comunicati stampa - economia)

Konsolidator maintains its financial expectations for 2024
In Q1 2024, Konsolidator delivered ARR growth of 4% (YoY). The focus has been on establishing our Iberia sales office and preparing and launching the growth initiatives, including the new Microsoft D365 partner channel. Improving churn and increasing direct sales remain top priorities together with the growth initiatives. Konsolidator maintains its financial expectations of DKK 24-28m in ARR in 2024.

2024 is well underway, and Konsolidator has signed 7 new customers. However, Konsolidator has also lost 11 customers during Q1 2024m, thus churn has the utmost attention. Konsolidator expects to see an improvement in churn in the second half of 2024.

In Q1 2024, Konsolidator initiated a Customer Success academy, which will be implemented in Q2 2024. Further in March 2024, Konsolidator elected a new board member, Michael Rasmussen. As VP of technical engagement in the SaaS company, Queue-it, Michael brings experience in building a Customer Success department.

As mentioned in the annual report 2023, the growth initiatives combined with exploring new business segments for the company's consolidation engine, and the efforts to minimize churn, Konsolidator remains positive about the ARR development for 2024.

"To regain growth momentum, we have initiated several projects that we will benefit from in 2024. These initiatives will improve ARR and profitability” says CEO Claus Finderup Grove.

Q1 2024 Financial highlights

Outlook
We maintain our outlook for 2024 which is as follows:

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About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL

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