Press Release
H1 2021
Results.
CM.com more than doubles core revenue in exceptionally strong Q2 2021.
PRESS RELEASE
H1 2021 Results
CM.com more than doubles core revenue in exceptionally strong Q2 2021.
Full Year 2021 revenue guidance raised
BREDA, 29 JULY 2021
H1 2021 Highlights
- Core revenue grew by 97% to € 107.6 million, of which 85% organically
• | Core gross profit more than doubled and grew by 129% to € 27.3 million, of which 82% organically |
- Positive margin development from 22% towards 25%
- CPaaS Enterprise Net Dollar Retention rate stable at 130% and churn limited to 4%
- Multi-yearcontract win as dedicated International Payment Service Provider of the Dutch Government
- Launch of innovative Conversational Voice bot and first customer win
- New commercial partnership with Facebook for Instagram Messaging for Businesses
- 2021 revenue guidance raised to € 220 million - € 240 million
This document has not been audited | 2 |
FINANCIAL HIGLIGHTS | ||||||
Q21 | 2021 | Q2 2020 | Q-Q | H1 2021 | H1 2020 | H1-H1 |
(x € million) | ||||||
Revenue | 62.2 | 28.5 | +119% | 112.0 | 57.8 | +94% |
Core Revenue | 60.0 | 26.9 | +123% | 107.6 | 54.5 | +97% |
Gross Profit | - | - | - | 27.9 | 12.5 | +124% |
Core Gross Profit | 15.3 | 5.8 | +160% | 27.3 | 11.9 | +129% |
Gross Margin | - | - | 25 | 22 | ||
Core Gross Margin | 26 | 22 | 25 | 22 | ||
Operating expenses | - | - | (27.9) | (12.9) | ||
EBITDA | - | - | 0.0 | (1.8) | ||
Adjusted EBITDA | - | - | 0.0 | (0.4)2 | ||
Net profit | - | - | (4.9) | (5.7) | ||
CAPEX | - | - | (10.7) | (5.5) | ||
KPIs | ||||||
Q21 | 2021 | Q2 2020 | Q-Q | H1 2021 | H1 2020 | H1-H1 |
CPaaS net dollar retention | - | - | 130 | 130 | ||
rate3 (%) | ||||||
CPaaS enterprise churn | - | - | 4 | 4 | ||
rate4 (%) | ||||||
Number of messages | 1.4 | 0.7 | +86% | 2.6 | 1.6 | +57% |
(billions) | ||||||
Number of voice minutes | 190 | 52 | +261% | 353 | 89 | +295% |
(millions) | ||||||
Total payments processed | 227 | 183 | +24% | 434 | 349 | +25% |
(€ millions) | ||||||
Number of Tickets | 1.8 | 0.6 | +197% | 2.0 | 1.1 | +78% |
(millions) | ||||||
Annual Recurring | - | - | 18.2 | 3.8 | +381% | |
Revenue (ARR)5 | ||||||
(€ millions) | ||||||
- Organic Q2 2021 core revenue and gross profit amounted to € 55.8 million and € 11.9 million respectively, resulting in organic core revenue and organic core gross profit growth of 107% and 102% respectively in Q2 2021
- Adjusted EBITDA is EBITDA adjusted for IPO/Listing expenses
- Represents the ratio of the revenue of CPaaS customers in comparable twelve months between the actual and preceding year for customers that generated more than € 10,000 in revenue in the actual year
- Represents the ratio of revenue from CPaaS customers that generated more than € 10,000 in revenue in the preceding year but that generated less than € 10,000 in the actual year or were no longer customers in the actual year, to total revenue in the previous year
- ARR a new KPI that represents the annual recurring revenue streams at the end of the period
This document has not been audited | 3 |
Message from the CEO
We continued our strong growth path. In the first half of 2021, we almost doubled our revenue and more than doubled gross profit. The bulk of our growth was organic and driven by our CPaaS business with an exceptionally high growth rate in the second quarter. All our recent acquisitions contributed to growth as well. In addition, we see demand for our innovative cloud solutions gaining strong traction with various customer wins across the world.
The adverse effects of Covid-19 on the business of our customers in the leisure sector have still hampered growth in Payments and Ticketing. We continued to invest in both businesses as they offer significant upward potential once the effects of the government measures ease. Additionally, we continued to deliver on our roadmap for global expansion. We further strengthened our global salesforce and opened new hubs in Mexico, Brazil, and Kazakhstan.
Our growth outlook for the full year remains strong. Given the exceptionally strong results we achieved in the second quarter, we revise our revenue guidance for full year 2021 upwards from € 205 million - € 225 million to € 220 million - € 240 million.
Jeroen van Glabbeek
CEO CM.com
This document has not been audited | 4 |
REVIEW H1 2021 FINANCIAL RESULTS | |||
H1 2021 | H1 2020 | H1-H1 | |
x € million | |||
Revenue | 112.0 | 57.8 | +94% |
Core revenue | 107.6 | 54.5 | +97% |
CPaaS | 94.1 | 48.2 | +95% |
Payments | 4.8 | 3.3 | +45% |
Platform | 8.8 | 3.0 | +195% |
Other | 4.4 | 3.3 | +34% |
Gross Profit | 27.9 | 12.5 | +124% |
Core Gross Profit | 27.3 | 11.9 | +129% |
CPaaS | 16.9 | 7.5 | +126% |
Payments | 2.7 | 1.8 | +54% |
Platform | 7.7 | 2.7 | +186% |
Other | 0.6 | 0.5 | +17% |
Gross Margin | 25% | 22% | |
Core Gross Margin | 25% | 22% | |
CPaaS | 18% | 16% | |
Payments | 56% | 54% | |
Platform | 87% | 90% | |
Other | 15% | 17% | |
Operating expenses | (27.9) | (12.9) | +117% |
Employee benefit expenses | (17.9) | (8.6) | +109% |
Other operating expenses | (10.0) | (4.3) | +133% |
Adjusted EBITDA | 0.0 | (0.4) | |
IPO/Listing expenses | - | (1.4) | |
EBITDA | 0.0 | (1.8) | |
Depreciation and Amortization | (6.0) | (3.1) | |
Financing costs | (0.0) | (3.3) | |
Tax | 1.1 | 2.5 | |
Net profit | (4.9) | (5.7) | |
This document has not been audited | 5 |
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CM.com NV published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 05:06:05 UTC.