Company Announcement No. 4-2025 - Inside information
Copenhagen, April 29, 2025
Attached Quarterly update Q1 2025
RISMA Systems A/S closes 2025-Q1 with an Annual Recurring Revenue at 43.8 MDKK equivalent to a growth of 23% from 35.6 MDKK end of 2024-Q1
Key figures 2025-Q1
- Annual Recurring Revenue ended at 43,8 MDKK end of 2025-Q1 which was an increase of 8.2 MDKK from end of 2024-Q1.
- The upselling to existing customers ended at 4.8 MDKK end of 2025-Q1 compared to 3,6 MDKK end of 2024-Q1 (12-month period).
- Revenue churn ended at 11% end of 2025-Q1 compared to 5% end of 2024-Q1 (12-month period).
- Net revenue retention rate ended at 101% in 2025-Q1 compared to 108% end of 2024-Q1.
Changes in guidance for 2025
Inside information: The guidance for ARR is changed from 49-52 MDKK to 44-49 MDKK. We thereby expect ARR to increase between 2 MDKK and 7 MDKK for the full year 2025. The guidance for EBITDA is changed from -3.0 to +1.0 MDKK to +0.2 to +3.2 MDKK.
Business update
In many aspects 2025 Q1 has been good for RISMA. Sales in Norway and Sweden are significantly higher than in the same period last year, and for the first time RISMA has a quarter with close to positive EBITDA (unaudited figures).
It is, however, also a quarter in which EU has announced deregulation on CSRD as well as on GDPR, and a quarter in which the macroeconomics are uncertain. Especially the Danish market is already characterized by having too many providers. Some have debt already and they will now have an even harder way to survive. As a result, the Danish market prices, which are already lower than in other countries, will likely remain low until a sustainable number of suppliers have left.
Luckily, RISMA has a strong financial position with no financial debt, c. 10 MDKK in cash in the latest financial report and an unused credit facility of 12 MDKK. While we increase our focus on Sweden and Norway we also prepare for a hard battle in Denmark. We are committed to maintaining a strong financial position. Furthermore, in unstable times it is important to focus on the bottom line.
Given the market situation we have decided to cut costs rather significantly. The cost reduction will be at the level of around 10 MDKK on the yearly cost base. However, the effect on the current year is close to 4 MDKK.
As it is still uncertain what the deregulation of the GDPR will contain, and if the number of software suppliers will remain at current level, we must take into account a lot of uncertainties when setting the guidance for 2025. Therefor we have a large spread of +2 MDKK to +7MDKK in growth of ARR. Due to the cost saving we guide EBITDA to be between +0.2 and +3.2 MDKK.
I believe that any growth in a market where our two most sold solutions are being targeted for deregulation by EU and with main presence in the most over-supplied market in the world, is a testament to the robustness of RISMAs business model.
Further Information
Lars Nybro Munksgaard, CEO & Founder
Mobile (+45) 31 48 11 00
e-mail: lnm@rismasystems.com
RISMA Systems A/S
Ejby Industrivej 34-38, 2600 Glostrup, Denmark
Certified Advisor
HC Andersen Capital
Pernille F. Andersen
Head of Advisory
Phone: +45 30 93 18 87
E-mail: ca@hcandersencapital.dk
Bredgade 23B 2., 1260 Copenhagen C, Denmark
About Risma Systems A/S
RISMA is a leading SaaS company helping organizations structure, handle, and document their efforts across the business-critical areas of Governance, Risk, and Compliance. RISMA's unique and user-friendly GRC suite makes cross-organizational collaboration easy to demonstrate and report on regulations and standards such as GDPR & Privacy, ISMS, Risk Management, Financial Controls, ESG and sustainability - and much more. RISMA is listed on Nasdaq First North with a mission to become a leading GRC platform for medium and enterprise businesses and organizations.
