EXASOL AG
ISIN: DE000A0LR9G9
WKN: A0LR9G
07 May 2024 09:44AM

EQS-News: Exasol publishes audited consolidated financial statements for 2023 and result for Q1 2024

EXASOL AG · ISIN: DE000A0LR9G9 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 1896969

EQS-News: EXASOL AG / Key word(s): Quarter Results/Annual Results
Exasol publishes audited consolidated financial statements for 2023 and result for Q1 2024

07.05.2024 / 09:44 CET/CEST
The issuer is solely responsible for the content of this announcement.


Exasol publishes audited consolidated financial statements for 2023 and result for Q1 2024

- ARR 2023 as preliminarily reported at EUR 41.7 million (+18% above previous year)
- Preliminary result for Q1 2024 also confirmed: ARR +16% compared to March 31, 2023
- Operating result (EBITDA) in Q1 2024 positive for the first time since IPO at EUR +0.3 million
- Cash and cash equivalents of EUR 20.7 million as of March 31, 2024

- Outlook for 2024 confirmed

Nuremberg, May 7, 2024: Exasol AG, a global technology company and provider of a high-performance analytics database, today published its audited consolidated financial statements for 2023, confirming the preliminary results from February 2024. Accordingly, the company increased its annualized recurring revenue (ARR) by 18.1% to EUR 41.7 million (2022: EUR 35.3 million), as preliminarily reported. In the same period, revenue increased by 5.7% to EUR 35.1 million (2022: EUR 33.2 million). Adjusted earnings before interest, taxes, depreciation and amortization (adj. EBITDA)* improved significantly to EUR -5.4 million, compared to a loss of EUR -13.4 million in the previous year.

At the same time, the company presented its final figures for the first quarter of 2024, confirming the ARR figure of EUR 40.7 million published in April (Q1 2023: EUR 35.0 million, like-for-like). This corresponds to an increase of 16.0% on a like-for-like basis. Preliminary Group revenue in the first quarter of 2024 was also confirmed, rising by 12.5% to EUR 9.9 million (Q1 2023: EUR 8.8 million). With earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR +0.3 million, Exasol is profitable for the first time since its IPO in May 2020. In the previous year, a loss of EUR -2.2 million was recorded. The management therefore continues to expect to achieve a positive operating result for the full year.

As previously reported, cash and cash equivalents increased to EUR 20.7 million at the end of the first quarter of 2024 (December 31, 2023: EUR 13.3 million). Adjusted for extraordinary effects** net cash flow thus amounted to EUR 7.8 million in the first quarter and more than doubled compared to the same period of the previous year (Q1 2023: EUR 2.9 million, like-for-like).

“The results presented today show that we are well on track to lead Exasol into the profit zone for the full year,” explains Jörg Tewes, CEO of Exasol AG. “In addition, we see a good development of our sales pipeline, which will lead to an increase in ARR in the second half of the year again. We are therefore confident to achieve our annual targets.”

Outlook for 2024 confirmed

For the 2024 financial year, Exasol expects ARR to increase by up to 10% compared to the previous year. The increased churn rate in 2023 is expected to have a negative impact on ARR development, particularly in the first half of the year. This is due to the continuing challenging economic situation in the EMEA region and the associated cuts in IT budgets at some larger customers. In the second half of 2024, the growth initiatives launched at the end of 2023 are expected to take effect and lead to a return to positive ARR development.  Exasol expects consolidated revenue to increase by 10 - 15%, with a positive operating result (EBITDA) that will be significantly higher than in the previous year. Cash and cash equivalents are expected to remain stable at over EUR 10 million at the end of 2024 compared to the previous year.

Key figures Q1 2024

(in m€) Q1 2024 Q1 2023 Change
ARR (as of 31.3.) 40.7 35.0 +16.0%
Revenue 9.9 8.8 +12.5%
EBITDA 0.3 -2.2 n/a
       
  31.3.2024 31.12.2023  
Liquid funds 20.7 13.3 +55.6%

 

* EBITDA is adjusted for effects from stock appreciation rights granted to the Executive Board and employees prior to the IPO in 2020 and for the costs related to the capital increase in June 2023.

** This does not include payments to employees for bonus entitlements from the 2020 IPO in the amount of EUR 0.4 million (previous year: EUR 1.9 million), which are now fully settled with this final payment.

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

 



07.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: EXASOL AG
Neumeyerstraße 22-26
90411 Nuremberg
Germany
Internet: www.exasol.com
ISIN: DE000A0LR9G9
WKN: A0LR9G
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1896969

 
End of News EQS News Service

1896969  07.05.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 17,72 21,61 23,60 27,46 33,19 35,14 40,00
EBITDA1,2 1,77 -10,96 -29,94 -25,67 -12,16 -5,68 1,85
EBITDA-Margin3 9,99 -50,72 -126,86 -93,48 -36,64 -16,16 4,63
EBIT1,4 -0,10 -13,16 -34,10 -28,50 -14,92 -8,32 0,00
EBIT-Margin5 -0,56 -60,90 -144,49 -103,79 -44,95 -23,68 0,00
Net Profit (Loss)1 -0,63 -13,98 -34,33 -29,30 -15,01 -8,22 0,00
Net-Margin6 -3,56 -64,69 -145,47 -106,70 -45,22 -23,39 0,00
Cashflow1,7 1,23 2,23 -11,21 -36,07 -14,28 -6,29 0,00
Earnings per share8 -0,03 -0,63 -1,40 -1,20 -0,61 -0,30 -0,18
Dividend per share8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: KPMG

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INVESTOR-INFORMATION
©boersengefluester.de
Exasol
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A0LR9G DE000A0LR9G9 AG 62,37 Mio € 25.05.2020 Kaufen 8FXHF4J9+8C
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
0,00 0,93 0,00 -4,33 14,17 -9,91 1,77
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
20.06.2024 07.05.2024 14.08.2024 13.11.2024 07.05.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+5,45%
2,32 €
ATH 29,48 €
+11,97% +2,52% -26,23% -25,40% -75,58%

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