MapsPeople – Presentation of annual report 2023

MapsPeople expects to announce its annual report for 2023 on 19 March 2024. MapsPeople’s management will present the results, highlights for the year, and its expectations for 2024 on 21 March 2024 at 13:00 in a virtual live event. The management presentation will be followed by a Q&A session.

In Q3 2023, MapsPeople closed the quarter with a total ARR of DKK 51.2m, corresponding to a growth rate of 77% YoY. For the first nine months of 2023, EBITDA amounted to DKK -45.2m. MapsPeople’s 2023 guidance is a total ARR in the range of DKK 58-64m by the end of 2023, revenue in the range of DKK 38-45m in 2023, and EBITDA between DKK -62m and DKK -52m in 2023.

In December 2023, the company could also announce that the company has achieved the capital that covers the operational plan until positive cash flow through a capital increase (private placement), EIFO loan, and new structure on old loans. With the capital requirement solved and cost reduction plans implemented, the focus is expected to be on MapsPeople’s progress in converting its order book into new ARR, while also adding new partners, as well as switching existing partner contracts to its prepaid platform license model.

MapsPeople is a Software-as-a-Service (SaaS) company with HQ in Aalborg and offices in Copenhagen, München, Austin, and Singapore. MapsPeople has two revenue streams: MapsIndoors and Other Licenses (including Google Maps). MapsIndoors is an indoor mapping platform that helps make buildings smart in multiple ways. MapsPeople also provides Google Maps licenses and services for companies wishing to integrate Google Maps into their products, apps, websites, etc.

Disclaimer: HC Andersen Capital receives payment from MapsPeople for a Corporate Visibility/Digital IR subscription agreement. /Michael Friis 09.41, 22 Februar 2024.