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Vertiseit Year-end report 2023

MAR

At the end of the fourth quarter of 2023, Vertiseit's Annual Recurring Revenue (ARR) amounted to MSEK 160.8 (137.7), representing a 17.0 percent increase at fixed cexchange rates compared to the previous year. Adjusted for the ITS business divestment during the third quarter, SaaS (Software as a Service) revenues increased by MSEK 5.0 to MSEK 42.9 (37.9). Sequentially, ARR grew by 5.5 percent at fixed exchange rates compared to the previous quarter, equivalent to an annual organic growth rate of 23.9 percent. Net revenue decreased by 11.6 percent to MSEK 87.4 (98.9) as a result of the divestment of the ITS business. Adjusted EBITDA for the quarter amounted to MSEK 20.5 (13.2), corresponding to an EBITDA margin of 23.5 percent (13.3).

THE QUARTER OCTOBER - DECEMBER

  • At the end of the quarter, the Annual Recurring Revenue (ARR) amounted to MSEK 160.8 (137.7), representing a 17.0 percent increase compared to the previous year at fixed exchange rates. SaaS (Software as a Service) revenue for the quarter increased by MSEK 5.0 to MSEK 42.9 (37.9), adjusted for the divested ITS operations.
  • Sequentially, ARR grew by 5.5 percent compared to the previous quarter at fixed exchange rates, equivalent to an annual organic growth rate of 23.9 percent.
  • Net revenue decreased by 11.6 percent to MSEK 87.4 (98.9), as a result of the divestment of the ITS business conducted during Q3 2023.
  • Earnings before depreciation and amortisation (EBITDA) amounted to MSEK 20.5 (12.1) and the EBITDA margin to 23.5 percent (12.3). There were no extraordinary items during the quarter that required adjustment of EBITDA.
  • The quarter's profit amounted to MSEK 5.7 (8.0).
  • Free cash flow during the quarter amounted to MSEK 0.8 (16.8). Available liquidity at the end of the period amounted to MSEK 53.0 (62.5).
  • Earnings per share, before and after dilution, amounted to SEK 0.28 and SEK 0.25 (0.40 and 0.35) respectively.

EVENTS DURING THE QUARTER

  • During the quarter, the subsidiary Dise signed a global license agreement for Digital In-store with partner Scientific Games LLC, with minimum contracted SaaS revenue exceeding MSEK 20.5 during the five-year contract period.

The Board's proposal to the Annual General Meeting 2024 is that no dividend shall be distributed to shareholders for the fiscal year 2023, in line with the company's financial goals.

EARNINGS CALL
Vertiseit invites you to an earnings call where Johan Lind, CEO, and Jonas Lagerqvist, CFO, will present the company's Year-end report. Following the presentation, there will be an opportunity to ask questions. The call will be held in English.

Time: Thursday, February 15, at 11:00 AM
Participation: To join the presentation - click here

Links

Link to Vertiseit Investor Relations where the report is available

Contacts

Johan Lind, Vertiseit Group CEO / Media Contact
johan.lind@vertiseit.com
+46 703 579 154

Jonas Lagerqvist, Vertiseit Group Deputy CEO / CFO / Investor Relations
jonas.lagerqvist@vertiseit.com
+46 732 036 298

Redeye AB is the company’s Certified Adviser

About Vertiseit

Vertiseit is a leading Digital In-store company offering the In-store Experience Management (IXM) SaaS platforms Grassfish and Dise. The platforms help global brands and leading retailers strengthen the customer experience by offering seamless customer journeys through connecting the physical and digital meeting. The company has around 150 employees in Sweden, Norway, Denmark, Austria, Germany and UK. During the period 2012-2023, Vertiseit performed an average profitable growth of recurring SaaS revenue (ARR) of 48 percent (CAGR). For the full year of 2023, the group’s net revenue amounted to SEK 348 million, with an adjusted EBITDA margin of 17 percent. Since 2019, Vertiseit’s B-share is listed on Nasdaq First North Growth Market.

VERTISEIT AB (publ)
Phone: +46 340 848 11
E-mail: info@vertiseit.com
Kyrkogatan 7, 432 41 Varberg, Sweden
Org.no: 556753-5272
www.vertiseit.com

This information is information that Vertiseit is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-15 07:30 CET.

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Vertiseit Year End Report 2023

Datum 2024-02-15, kl 07:30
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Vertiseit Year End Report 2023
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