Today, Risk Intelligence published its interim report for the second quarter of 2022. Below is a compilation of our first impressions, including deviations from our estimates made after Q1 2022.

• Total ARR was reported at DKK 16.87m, corresponding to an increase of 20 percent. System ARR grew by 23 percent to DKK 15.5m. Net sales for the quarter amounted to DKK 3.0 million, corresponding to a growth of 7.1 percent. Our estimate was DKK 3.7 million. The revenue was thus weaker than our expectations.
• Reported EBITDA amounted to DKK minus 3.5 million. Our estimate was DKK minus 2.4 million. The outcome was, therefore, weaker than anticipated. While costs were slightly higher than our estimates, the deviation is to a larger extent explained by the lower revenues for the quarter.
• Earnings before taxes for the period were DKK minus -4.5 million, compared to our estimate of DKK minus 3.8 million. Earnings per share amounted to DKK minus 0.40. Our forecast was DKK minus 0.3.

The revenue guidance from the company remains at DKK 21.5-23.5 million for the full year 2022.

We intend to provide an updated analysis on Risk Intelligence shortly. Read the last published research update here.

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