Relesys A/S | Quarterly Announcement Q1 2023
Company Announcement No. 6-2023
First-quarter period:
Relesys achieved an Annual Recurring Revenue (ARR) of DKKm 49.4 and is starting the year in accordance with the plan.
Current financial guidance remains unchanged.
Summary:
Relesys started 2023 by executing the financial expectations presented in the Annual Report 2022. During Q1, Relesys signed with
- ARR increased from DKKm 33.8 in Q1 2022 to DKKm 49.4 in Q1 2023, corresponding to 46% year-on-year growth.
- NRR was 117% year-on-year.
- ARR net uplift was 22% year-on-year.
- ARR churn was 4% year-on-year.
- ARR from new clients increased by DKKm 2.5 during the period.
- Revenue grew from DKKm 10.0 in Q1 2022 to DKKm 12.8 in Q1 2023, corresponding to 28% year-on-year growth.
- The cash balance at the end of Q1 was DKKm 28.2. Free Cash Flow Multiple last 12 months was -1,5.[1] The cash balance of DKKm 28.2 is considered to be sufficient to take Relesys to positive cash flow.
Financial Guidance 2023:
For 2023, Relesys expects continued growth in both ARR and Revenue. ARR guidance for 2023 is DKKm 59-64 and Revenue guidance for 2023 is DKKm 54-60. Guidance remains unchanged compared to what was presented in the annual report 2022.
[1] Free Cash Flow Multiple is defined as: Free Cash Flow divided by ARR growth.
CONTACT INFORMATION
Relesys A/S
Jesper Roesgaard, CEO
Mobile (+45) 28 45 97 97
Email: jero@relesys.net
Mobile (+45) 26 71 01 02
Email: mala@relesys.net
Certified Adviser
Mobile (+45) 22 83 82 34
Email: mads.moeller@dk.gt.com
ABOUT RELESYS
Relesys is a Software as a Service (SaaS) company founded with the sole purpose to create a more engaged and united workforce. The communication and performance platform enables companies to strengthen their internal communication and performance, by providing employees access to an intuitive user-friendly app, with all the information they need to succeed in their jobs, thus improving the overall performance.
Relesys has a strong product-market-fit within the retail industry, but the platform has proven valuable for other industries where a large proportion of the workforce is not working from a desk in front of a computer and who are isolated from the rest of the organization. Relesys provides a scalable software solution and has already a proven track record internationally.
On
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