MapsPeople: Adjusts 2024 guidance, sets 2025 guidance and announces capital requirement
Yesterday after the market closed, MapsPeople adjusted its 2024 guidance on ARR but kept guidance for revenue and EBITDA. After getting the budget approval from the board, the 2025 guidance has been set. A capital requirement has also been announced to carry out its 2025 plans.
For 2024, MapsPeople now expects to realize an ARR of DKK 58.2m, which is just shy of the guided range of DKK 59 – 63m. As expected with a late shortfall in ARR, and therefore marginal full-year effect on revenue and earnings, they reiterated expectations of 2024 revenue in the range of DKK 58 – 63m. and EBITDA of DKK negative 26m to negative 30m. There were no figures for cash flow or cash position year-end published.
For 2025, MapsPeople guides for an ARR (Dec 2025) in the range of DKK 70 – 80m and a revenue between DKK 66 – 75m. EBITDA outlook 2025 is in the range of DKK negative 10m to negative 20m.
MapsPeople also announced to the market that its 2025 plans will require additional capital of DKK 15-20m in 2025. No further details on how this capital is expected to be raised were released in the announcement. The cash is needed both for funding growth and product innovations.
Further financial details will be reported in connection with the Annual Report 2024, which is planned to be released on March 19th, 2025.
Read the full announcements here: https://www.inderes.dk/releases/mapspeople-as-adjust-arr-expectations-for-2024-and-sets-guidance-for-2025 and https://www.inderes.dk/releases/mapspeople-as-capital-requirement-2
Disclaimer: HC Andersen Capital receives payment from MapsPeople for a Digital IR/Corporate Visibility subscription agreement. /Michael Friis 08:22, 28-01-2025.
MapsPeople
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MapsPeople is a Software-as-a-Service (SaaS) company focusing on digital mapping for indoor navigation. The two primary revenue streams are 1) MapsIndoors which is MapsPeople’s own developed mapping solution for indoor navigation 2) Google Maps partnership with Google. MapsIndoors is the key segment with high double-digit growth rates, and the Google Maps segment is expected to be a more steady business going forward. MapsPeople has a global presence with offices in Denmark, Germany, Singapore and United States, and customers include some of the largest brands in the world. The company has been listed at Nasdaq First North Premier in Denmark since June 2021.
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