EQS-News: Exasol achieves positive EBITDA for the third consecutive quarter, full-year outlook confirmed and substantiated

Exasol achieves positive EBITDA for the third consecutive quarter, full-year outlook confirmed and substantiated

- ARR increases by 11.6% to EUR 40.4 million (September 30, 2023: EUR 36.2 million)
- Revenue grows by 10.6% to EUR 29.1 million in the first nine months (9M 2023: EUR 26.3 million)
- EBITDA increases to EUR 1.0 million in the first nine months (9M 2023: EUR -4.1 million)
- Cash and cash equivalents of EUR 17.8 million as of September 30, 2024 (December 31, 2023: EUR 13.3 million)
- Growth Outlook 2024 confirmed, EBITDA outlook substantiated to EUR 1.5-2.0 million, Cash outlook substantiated to EUR 11-13 million

Nuremberg, November 5, 2024: Exasol AG, a global technology company and provider of a high-performance analytics database, has achieved a positive operating result (EBITDA) of EUR 1.0 million in the first three quarters of the current financial year according to preliminary figures, thus significantly improving its earnings power (9M 2023: EUR -4.1 million). This marks Exasol's third consecutive operationally positive quarter. Revenue also further increased by 10.6% to EUR 29.1 million (9M 2023: EUR 26.3 million).

At the same time, annualized recurring revenue (ARR) increased by 11.6% to EUR 40.4 million as of the quarterly reporting date (September 30, 2023: EUR 36.2 million). With net growth of EUR 0.8 million in the third quarter, the ARR trend picked up again after a net decline of EUR -1.1 million in the first half of 2024 compared to the end of 2023. A further increase in ARR is also expected for the fourth quarter due to seasonally higher new business.

“Our ARR development gained momentum in the third quarter. After seeing elevated absolute churn in the first six months of the year, we are now back on a growth path”, explains Joerg Tewes, CEO of Exasol. “We are also confident about the remaining fourth quarter and are well on track to achieve our outlook for the full year.”

The company's capital position also developed positively in the first three quarters. With a year-to-date net cash flow of EUR 4.5 million (9M 2023: EUR -4.8 million), liquidity remained at a good level. Cash and cash equivalents amounted to EUR 17.8 million at the end of the third quarter of 2024 (31.12.2023: EUR 13.3 million).

“With the third positive quarterly result in a row, we have sustainably reached the profit zone. We want to maintain this trend in the coming quarters and thus further strengthen our capital position,” adds CFO Jan-Dirk Henrich. “The increasing profitability also opens up additional room for further growth.”

Outlook 2024

The outlook for the fiscal year 2024 remains unchanged: Exasol expects an increase in ARR of up to 10% compared to the previous year, while Group revenue is expected to increase by 10-15%. The Executive Board substantiates its expectations for the operating result (EBITDA) to a range of EUR 1.5 and EUR 2.0 million (previously: positive). The expectations for cash and cash equivalents are also substantiated and are expected to be between EUR 11 million and EUR 13 million by the end of 2024 (previously: over EUR 10 million).

Final third quarter figures will be published on November 13, 2024.
 

IR Contakt
Christoph Marx
Head of Investor Relations
Tel: +49 911 2399 114
E-Mail: ir@exasol.com