Agillic: Total ARR decreased by -8% YoY (+2% QoQ) with positive EBITDA in Q3 2024
Today, Agillic's Q3 2024 report has been released. Total ARR decreased by -8% YoY (yet an increase of 2% QoQ), and EBITDA was DKK 1.2m (DKK 2.5m in Q3 2023) in the quarter. By the end of Q3 2024, ARR from subscriptions was DKK 52.5m (-8% YoY) and ARR from transactions was DKK 10.6m (-12% YoY). However, cash flow from operations increased to DKK 4.1m in Q3 2024 (DKK -2.8m in Q3 2023).
The lower ARR level YoY from subscriptions is primarily due to clients’ technology consolidations in Q1 2024. The ARR from transactions is down -12% YoY due to lower volumes explained by geopolitical factors. Looking ahead into Q4 2024, the company expects to increase both ARR from subscriptions and transactions and thus also its revenue.
Looking at YTD (first 9 months of 2024), Agillic’s EBITDA was DKK 1.8m. This is negatively impacted by the decrease in revenue and an increase in operational costs related to a one-time cost of DKK 1.0m for consultancy services. On the other hand, it is positively impacted by an increase in the gross margin from 80% to 81% and a decrease in employee costs.
Agillic’s financial guidance for 2024 is maintained. This implies a revenue in the range of DKK 62-66m and EBITDA in the range of DKK 0-2m in 2024, as well as total ARR in the range of DKK 66-74m (DKK 56-60m from ARR Subscriptions and DKK 10-14m from ARR Transactions) by the end of 2024.
Read the full Q3 report here: https://www.inderes.dk/releases/agillic-releases-q3-2024-financial-report-with-8percent-decrease-in-arr-from-subscriptions-yoy-ebitda-of-dkk-18-million-and-dkk-67-million-in-cash-flow-from-operations
Here at 10:00 CET, Agillic’s CEO Emre Gürsoy and CFO Claus Boysen will present the Q3 2024 results and answer questions from the audience in an online live event. Sign up and ask your questions here: https://www.inderes.dk/videos/agillic-presentation-of-q3-2024-results
Disclaimer: HC Andersen Capital receives payment from Agillic for a Digital IR/Corporate Visibility agreement. /Kasper Lihn 09:39, 22 October 2024.
Agillic
Agillic er en dansk Software as a Service (SaaS) virksomhed inden for marketingteknologi (MarTech), med hovedkontor i København, Danmark. Agillics omnichannel marketing automation platform giver brands mulighed for at arbejde med datadrevet indsigt og indhold for at skabe, automatisere og sende personlig kommunikation til millioner af personer. Beviste forretningscases findes inden for detailhandel, finans, turisme, energi og forsyning, teknologi og software, underholdning og spil, medier og forlag, velgørenhed og NGO og i abonnementsvirksomheder på tværs af alle brancher.
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