Penneo (One-pager): Balanced journey to profitability confirmed in Q1 2024
Last week, Penneo announced its Q1 2024 results, reporting an ARR growth of 23% YoY and improved profitability, which aligns with the 2024 guidance. After the Q1 2024 report, we have updated the investment case one-pager with recent news from the report and updated market data.
You can also watch the management presentation of the Q1 2024 report with Penneo’s CEO Christian Stendevad and CFO Casper Nielsen Christiansen here: https://www.inderes.dk/videos/penneo-praesentation-af-q1-2024
Disclaimer: HC Andersen Capital receives payment from Penneo for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 12:00 (latest updated 12:05), 27 May 2024.
Penneo
Penneo er en dansk Software-as-a-Service (SaaS)-virksomhed, der leverer løsninger til digital signering, dokument-workflow og compliance såsom et Know Your Customer-produkt (KYC), der hjælper virksomheder med at overholde anti-hvidvask-lovgivningen (AML). Penneo blev etableret i Danmark i 2014, og virksomheden har nu mere end 3.000 kunder i Danmark, Sverige, Norge, Finland og Belgien. Penneos primære kunder er revisorer, og virksomheden har ambitionen om at blive markedsleder og den foretrukne partner for revisions- og regnskabsbranchen i Europa. Penneo er noteret på Nasdaq Copenhagen Main Market.
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