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Equity Research Risk Intelligence, Q2 2023: Better than expected revenues and profitability

16 Aug 2023

Today, Risk Intelligence published its interim report for the second quarter of 2023. Below is a compilation of our first impressions, including deviations from our estimates made after Q1 2023.

  • Total ARR (annual recurring revenue) was reported at DKK 18,2m, corresponding to an increase of 13%. The very important system ARR grew by 15% to DKK 17.1m. Net sales for the quarter amounted to DKK 4.9m, corresponding to a growth of 63% y/y. Our estimated net sales was DKK 4.8m. The revenue was thus marginally above our expectations.
  • Reported EBITDA amounted to DKK minus 1.5m. Our estimate was DKK minus 2.0m. The outcome was, therefore somewhat better than anticipated.
  • The EBIT result came in at DKK minus 2.2m. Our estimate was DKK minus 2.5m.
  • Earnings per share amounted to DKK minus 0.15. Our forecast was DKK minus 0.15.

The company’s guidance for ARR at the end of 2023 remains between 18.5-20.9 MDKK at a negative EBITDA and net-result for the full year. NRR of 116% signals that the company continues to increase the recurring revenue from the existing customer base. We intend to provide an updated analysis of Risk Intelligence shortly.

Read the last published research update here.


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Equity Research Risk Intelligence, Q2 2023: Better than expected revenues and profitability