Q1 2022

Trading update.

PRESS RELEASE

Q1 2022 Trading update

Strong start of 2022 for CM.com with Q1 revenue up 42% and gross profit up 45%

BREDA, 20 APRIL 2022

Q1 2022 Highlights

  • • Revenue up 42% to € 70.5 million, organic revenue up 38%

  • • Gross profit up 45% to € 17.8 million and gross margin stable at 25%

  • • Acquisition of consumer AI technology company Building Blocks completed; next step in evolution of CM.com's conversational commerce proposition

Outlook

  • • FY 2022 revenue expected to come in between € 310 million - € 330 million

  • • Return to structurally positive EBITDA towards the end of 2023, by continuing step-ups in growth investments

Q1 2022 KPIs 1

Q1 2022

Q1 2021

Δ Q-Q

(x € million)

Revenue

70.5

49.8

+42%

Gross Profit

17.8

12.3

+45%

Gross Margin

25%

25%

-

Number of messages (billions)

1.7

1.2

+48%

Number of voice minutes (millions)

161

163

-1%

Annual Recurring Revenue (ARR)2 (€ millions)

26.3

15.0

+75%

Total online payments processed3 (€ millions)

354

262

+35%

Number of Tickets (millions)

2.5

0.2

+1150%

1. As of 2022, CM.com will report only on total revenue and gross profit without a distinction in core revenue and core gross profit 2.ARR represents the annual recurring revenue streams at the end of the period

3. As a result of our growing and changing payments business, CM.com included direct settled payments transactions in the total online payments processed. This will give a better understanding of the payment volumes that go through the CM.com platform. CM.com has amended the payments volumes retrospectively across this press release.

CM.com is required to publish the information in this report pursuant to the EU market abuse regulation. The information was released for publication on 20 April 2022 at 7:00 AM CEST.

Messages

(# billions)

1.7

1.7

1.5

1.4

1.2

1.2

0.9

0.9

0.8

0.7

0.6

0.6

0.5

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

2021 2022

Voice minutes

(# millions)

190

179

163

157

161

109

97

52

35

34

34

38

37

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

2021 2022

Total online payments processed

(x € million)

354

287

277

262

270

217

183

169

162

166

164

148

146

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

2021 2022

Tickets

(# millions)

4.4

2.8

2.8

2.5

1.8

1.4

0.8

0.6

0.5

0.5

0.3

0.3

0.2

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

2021 2022

Annual Recurring Revenue

(x € million)

3.4

26.3*

22.7

20.4

18.2

15.0

14.0

10.8

3.8

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

2020

2021

2022

* including the software related part of the ARR of Building Blocks of € 2.9 million

Message from the CEO

"We got off to a good start with strong revenue and gross profit growth in the first quarter of 2022, despite a turbulent and unpredictable environment. We continue to see high demand for our conversational commerce solutions, with more companies looking to enhance and personalize the customer experience. Our CPaaS, Payments and Ticketing business all contributed to growth. We also saw strong demand for our mobile SaaS solutions providing for increasing predictable recurring revenue streams going forward.

This quarter, we completed the acquisition of Building Blocks, which brings along a wealth of consumer AI technology to further strengthen our conversational cloud software solutions.

The fact that the world is opening up again has a twofold effect on our businesses. We believe to have seen the peak in voice minutes last year. At the same time, we anticipate that this will be offset by the continued growth in messaging and SaaS-solutions accompanied by an uptick in payments processed and ticket sales thanks to the upcoming sports, leisure and entertainment events as people are eager to head out more.

We anticipate 2022 revenue to come in between € 310 million - € 330 million, in line with our average mid-term annual revenue growth target of more than 30%. Following the successful execution of our accelerated growth strategy in the past two years, we expect to return to a structurally positive EBITDA towards the end of 2023, as the profit we generate from servicing existing customers will exceed the costs of attracting new customers."

Jeroen van Glabbeek

CEO CM.com

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Disclaimer

CM.com NV published this content on 20 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2022 08:14:10 UTC.