Company announcement

Søborg, November 7, 2024

Q3 report 2024 - Growth picking up

Q3 2024 had the best quarterly net ARR increase in 2024, despite the expected high churn. The Equity was negative by the end of Q3 2024, and Konsolidator is working diligently to reestablish equity. The first step was initiated in Q3 2024 and completed in October, resulting in a share issue with net proceeds of DKK 2.2m.

Financial report for the period January 1 to September 30, 2024

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Annual Recurring Revenue (ARR) amounted to DKK 20m corresponding to an annual growth of 7%. In Q3 2024, Annual Recurring Revenue (ARR) increased by TDKK 456 compared to TDKK 27 for Q3 2023.

The net ARR increase in Q3 2024 has been the best quarterly increase in 2024.

In Q4 2024, the plan is to take the necessary steps to reestablish equity, either through operations, a capital increase, or a combination of both.

"New sales are picking up and we have experienced an increased interest from larger customers. Unfortunately, we still have too big a churn which impacts the net ARR growth but will be improved in 2025.” says CEO Claus Finderup Grove

Financial highlights

  • Revenue in Q3 2024 amounted to DKK 4.9m, compared to DKK 4.9m in Q3 2023. For the first nine months of 2024, revenue totaled DKK 14.8m, compared to DKK 14.2m, an increase of 4% compared to last year.
  • EBIT loss for Q3 2024 amounted to DKK 2.4m compared to a loss of DKK 1.9m for Q3 2023. For the first nine months of 2024, EBIT loss was DKK 9.4m compared to a loss of DKK 8.4m for the same period in 2023.
  • On September 30, 2024, Konsolidator had a negative equity of DKK 3.4m compared to an equity of DKK 1.8m on September 30, 2023. In October 2024, Konsolidator completed a share issue with net proceeds of DKK 2.2m.
  • Cash and cash equivalents amounted to DKK 0.3m on September 30, 2024.

SaaS metrics

  • In Q3 2024, ARR increased by TDKK 456 compared to TDKK 27 for Q3 2023. On September 30, 2024, the total ARR amounted to DKK 20m, an increase of 7% compared to September 30, 2023.
  • The Customer Acquisition Cost (CAC) divided by new ARR, excluding Konsolidator Iberia, was 52 in Q3 2024 compared to 53 in Q3 2023.
  • On September 30, 2024, the churn for the last 12 months was 13.4% compared to 8.5% on September 30, 2023.
  • The net retention, summarized to 94, compared to 97 on September 30, 2023.
Outlook

Full year guidance is maintained. However, reaching a revenue at the indicated interval will require that new sales are realized in one of the new business segments.

  • ARR of DKK 21-23m
  • Revenue of DKK 21-23m
  • EBIT loss of DKK 10-12m

Investor webinar

  • On November 7, 2024, at 15.00 (CET) an investor webinar will be held.

    Sign up here.

Contacts

Certified Adviser

  • Grant Thornton, Jesper Skaarup Vestergaard, phone +45 3527 5011, www.grantthornton.dk

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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