At the end of the second quarter of 2024, Vertiseit's Annual Recurring Revenue (ARR) amounted to 178.7 MSEK (150.9 MSEK), an increase of 21.2 percent at fixed exchange rates compared to the previous year. SaaS revenue (Software as a Service) for the quarter increased by 6.6 MSEK to 46.5 MSEK (39.9 MSEK), adjusted for divested operations. Sequentially, ARR grew by 4.9 percent at fixed exchange rates compared to the previous quarter, corresponding to an annual organic growth rate of 21.1 percent. Net revenue increased by 2.8 percent to 86.5 MSEK (84.1 MSEK). EBITDA for the quarter amounted to 18.6 MSEK (7.1 MSEK), corresponding to an EBITDA margin of 21.5 percent (8.4 percent). Free cash flow for the quarter amounted to 12.4 MSEK (-15.9 MSEK).
THE QUARTER APRIL - JUNE 2024
- At the end of the quarter, annual recurring revenue (ARR) amounted to 178.7 MSEK (150.9), an increase of 21.2 percent compared to the previous year at constant exchange rates. SaaS revenue (Software as a Service) for the quarter increased by 6.6 MSEK to 46.5 MSEK (39.9), adjusted for divested operations.
- Sequentially, ARR grew by 4.9 percent compared to the previous quarter at constant exchange rates, corresponding to an annual organic growth rate of 21.1 percent.
- Net revenue increased by 2.8 percent to 86.5 MSEK (84.1).
- Profit before depreciation (EBITDA) amounted to 18.6 MSEK (7.1) and the EBITDA margin to 21.5 percent (8.4). During the quarter, there were no adjustments for extraordinary items impacting EBITDA during the quarter.
- Net profit amounted to 8.8 MSEK (-4.6).
- Free cash flow during the quarter amounted to 12.4 MSEK (-15.9). Available liquidity at the end of the period amounted to 141.4 MSEK (21.9).
- Earnings per share, before and after dilution, amounted to 0.41 SEK and 0.36 SEK (-0.23 and -0.20), respectively.
EVENTS DURING THE QUARTER
- Recruitment of a new CEO for the subsidiary Grassfish has commenced, following Ann Hjelte's decision to pursue another external assignment at her own request.
- During the quarter, Vertiseit carried out a directed new share issue, which, together with the exercise of warrants, provided the company with approximately 86.6 MSEK before transaction costs. After the transactions, the number of outstanding shares amounted to 22,912,912.
- In April, Vertiseit held a capital markets day where the company presented new long-term and financial goals for the period 2025-2032. Current goals remain in force until the end of 2024.
Links
Link to Vertiseit Investor Relations where the report is available
Contacts
Johan Lind, Vertiseit Group CEO / Media Contact
johan.lind@vertiseit.com
+46 703 579 154
Jonas Lagerqvist, Vertiseit Group Deputy CEO / CFO / Investor Relations
jonas.lagerqvist@vertiseit.com
+46 732 036 298
Redeye AB is the company's Certified Adviser
About Vertiseit
Vertiseit is a leading Digital In-store company offering the In-store Experience Management (IXM) SaaS platforms Grassfish and Dise. The platforms enable global brands and leading retailers to strengthen the customer experience by offering seamless customer journeys through connecting the physical and digital meeting. The company has around 150 employees in Sweden, Norway, Denmark, Austria, Germany and UK. During the period 2012-2023, Vertiseit performed an average profitable growth of recurring SaaS revenue (ARR) of 53 percent (CAGR). For the full year of 2023, the group's net revenue amounted to SEK 348 million, with an adjusted EBITDA margin of 17 percent. Since 2019, Vertiseit's B-share is listed on Nasdaq First North Growth Market.
VERTISEIT AB (publ)
Phone: +46 340 848 11
E-mail: info@vertiseit.com
Kyrkogatan 7, 432 41 Varberg, Sweden
Org.no: 556753-5272
www.vertiseit.com
This information is information that Vertiseit is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-18 06:00 CEST.
