Konsolidator maintains its financial expectations for 2024
26 Abril 2024 - 2:26AM
Konsolidator maintains its financial expectations for 2024
Company announcement no 8-2024
Søborg, April 26, 2024
Konsolidator maintains its financial expectations for
2024In Q1 2024, Konsolidator delivered ARR growth of 4%
(YoY). The focus has been on establishing our Iberia sales office
and preparing and launching the growth initiatives, including the
new Microsoft D365 partner channel. Improving churn and increasing
direct sales remain top priorities together with the growth
initiatives. Konsolidator maintains its financial expectations of
DKK 24-28m in ARR in 2024.
2024 is well underway, and Konsolidator has signed 7 new
customers. However, Konsolidator has also lost 11 customers during
Q1 2024m, thus churn has the utmost attention. Konsolidator expects
to see an improvement in churn in the second half of 2024.
In Q1 2024, Konsolidator initiated a Customer Success academy,
which will be implemented in Q2 2024. Further in March 2024,
Konsolidator elected a new board member, Michael Rasmussen. As VP
of technical engagement in the SaaS company, Queue-it, Michael
brings experience in building a Customer Success department.
As mentioned in the annual report 2023, the growth initiatives
combined with exploring new business segments for the company’s
consolidation engine, and the efforts to minimize churn,
Konsolidator remains positive about the ARR development for
2024.
"To regain growth momentum, we have initiated several projects
that we will benefit from in 2024. These initiatives will improve
ARR and profitability” says CEO Claus Finderup Grove.
Q1 2024 Financial highlights
- On March 31, 2024,
ARR amounted to DKK 19.4m compared to DKK 18.6m on March
31, 2023, corresponding to an increase of 4%.
- Revenue in Q1 2024
amounted to DKK 5.0m compared to DKK 4.7m in Q1 2023, corresponding
to an increase of 8%.
- EBIT for
Q1 2024 amounted to a loss of DKK 2.7m compared to an EBIT
loss of DKK 2.9m in 2023.
- Total cash and cash
equivalents amounted to DKK 0.2m on March 31, 2024
compared to DKK 0,2m at the end of March 2023.
- The total equity
amounted to a negative equity of DKK 1.7m on March 31, 2024
compared to a negative equity of DKK 14.8m a year before. As
announced on April 25, 2024, Konsolidator has received positive
interest from private investors including the board of directors
and management to participate in a future directed issue of shares
to reestablish the equity.
Outlook We maintain our outlook for 2024 which
is as follows:
- ARR is expected to
be in the range of DKK 24-28m by the end of 2024
- Revenue is expected
to be in the range of DKK 23-27m.
- EBIT is expected to
be a loss in the range of DKK 0-5m.
Investor webinarOn April 30 2024 at 10.00 (CET)
an investor webinar will be held. Sign up using this link.
Contacts
- CEO: Claus Finderup Grove, mobile +45 2095 2988,
cfg@konsolidator.com
- CFO: Jack Skov, mobile, +45 2282 8845, js@konsolidator.com
Certified Adviser
- Grant Thornton, Jesper Skaarup Vestergaard, phone +45 3527
5011, www.grantthornton.dk
About KonsolidatorKonsolidator 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
- Konsolidator reporting Q1 2024