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.
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