EXASOL AG / DE000A0LR9G9
07.05.2024 - 09:44:52Exasol publishes audited consolidated financial statements for 2023 and result for Q1 2024
| EXASOL AG / Key word(s): Quarter Results/Annual Results 07.05.2024 / 09:44 CET/CEST The issuer is solely responsible for the content of this announcement. - ARR 2023 as preliminarily reported at EUR 41.7 million (+18% above previous year) - Preliminary result for Q1 2024 also confirmed: ARR +16% compared to March 31, 2023 - Operating result (EBITDA) in Q1 2024 positive for the first time since IPO at EUR +0.3 million - Cash and cash equivalents of EUR 20.7 million as of March 31, 2024 - Outlook for 2024 confirmed Nuremberg, May 7, 2024: Exasol AG, a global technology company and provider of a high-performance analytics database, today published its audited consolidated financial statements for 2023, confirming the preliminary results from February 2024. Accordingly, the company increased its annualized recurring revenue (ARR) by 18.1% to EUR 41.7 million (2022: EUR 35.3 million), as preliminarily reported. In the same period, revenue increased by 5.7% to EUR 35.1 million (2022: EUR 33.2 million). Adjusted earnings before interest, taxes, depreciation and amortization (adj. EBITDA)* improved significantly to EUR -5.4 million, compared to a loss of EUR -13.4 million in the previous year. At the same time, the company presented its final figures for the first quarter of 2024, confirming the ARR figure of EUR 40.7 million published in April (Q1 2023: EUR 35.0 million, like-for-like). This corresponds to an increase of 16.0% on a like-for-like basis. Preliminary Group revenue in the first quarter of 2024 was also confirmed, rising by 12.5% to EUR 9.9 million (Q1 2023: EUR 8.8 million). With earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR +0.3 million, Exasol is profitable for the first time since its IPO in May 2020. In the previous year, a loss of EUR -2.2 million was recorded. The management therefore continues to expect to achieve a positive operating result for the full year. As previously reported, cash and cash equivalents increased to EUR 20.7 million at the end of the first quarter of 2024 (December 31, 2023: EUR 13.3 million). Adjusted for extraordinary effects** net cash flow thus amounted to EUR 7.8 million in the first quarter and more than doubled compared to the same period of the previous year (Q1 2023: EUR 2.9 million, like-for-like). “The results presented today show that we are well on track to lead Exasol into the profit zone for the full year,” explains Jörg Tewes, CEO of Exasol AG. “In addition, we see a good development of our sales pipeline, which will lead to an increase in ARR in the second half of the year again. We are therefore confident to achieve our annual targets.” Outlook for 2024 confirmed For the 2024 financial year, Exasol expects ARR to increase by up to 10% compared to the previous year. The increased churn rate in 2023 is expected to have a negative impact on ARR development, particularly in the first half of the year. This is due to the continuing challenging economic situation in the EMEA region and the associated cuts in IT budgets at some larger customers. In the second half of 2024, the growth initiatives launched at the end of 2023 are expected to take effect and lead to a return to positive ARR development. Exasol expects consolidated revenue to increase by 10 - 15%, with a positive operating result (EBITDA) that will be significantly higher than in the previous year. Cash and cash equivalents are expected to remain stable at over EUR 10 million at the end of 2024 compared to the previous year. Key figures Q1 2024
IR Contact Christoph Marx Head of Investor Relations Tel: +49 911 2399 114 E-Mail: ir@exasol.com 07.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | EXASOL AG |
| Neumeyerstraße 22-26 | |
| 90411 Nuremberg | |
| Germany | |
| Internet: | www.exasol.com |
| ISIN: | DE000A0LR9G9 |
| WKN: | A0LR9G |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1896969 |
| End of News | EQS News Service |
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