EXASOL AG: Exasol confirms preliminary quarterly figures, ARR increases by 23% to EUR 33.9 million, profitability significantly improved
November 16, 2022 at 01:44 am EST
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EQS-News: EXASOL AG
/ Key word(s): 9 Month figures/Quarter Results
EXASOL AG: Exasol confirms preliminary quarterly figures, ARR increases by 23% to EUR 33.9 million, profitability significantly improved
16.11.2022 / 07:42 CET/CEST
The issuer is solely responsible for the content of this announcement.
Exasol confirms preliminary quarterly figures, ARR increases by 23% to EUR 33.9 million, profitability significantly improved
- ARR increases by +23.3% to EUR 33.9 million as of September 30, 2022 (previous year: EUR 27.5 million)
- Number of customers increased by around 10% to now 223
- Revenues up by 27.8% to EUR 24.8 million in the current fiscal year (9M 2021: EUR 19.4 million)
- Adjusted EBITDA of EUR -8.7 million significantly above prior-year period (9M 2021: EUR -23.0 million)
- Cash and cash equivalents at EUR 16.9 million as of September 30, 2022
Nuremberg, November 16, 2022: Exasol AG, a global technology company and provider of a high-performance analytics database, has published its quarterly figures for the third quarter of 2022, confirming the preliminary figures from the beginning of November 2022. According to these figures, annualized recurring revenue (ARR) increased by 23.3% to EUR 33.9 million (Sept. 30, 2021: EUR 27.5 million). The strongest driver here was the expansion of revenues with existing customers, of which around 60 increased their contract volumes. In addition, 18 new customers have been acquired since the beginning of the year (same period last year: 15). Around half of these came from the key industries of financial services, healthcare and transportation. The total number of customers at the end of September 2022 was therefore 223. The customer retention rate increased by 1 percentage point year-on-year to 95%.
Group revenue increased by 27.8% to EUR 24.8 million in the January-September 2022 period (9M 2021: EUR 19.4 million). Together with a further improved cost structure, the operating result (EBITDA) adjusted for one-off payments to employees for claims arising from the IPO 2020 increased to EUR -8.7 million, compared to EUR -23.0 million in the same period of the previous year. This corresponds to an improvement of 62.2% and exceeds original expectations.
"Despite the numerous current negative factors from high inflation, increased energy prices and the war in Ukraine, we have continued our growth course, even though we have recently had to reduce our ARR expectations for the full year. In particular, our business with existing customers is proving to be very robust," explains Jan-Dirk Henrich, CFO and Speaker of the Executive Board of Exasol. "At the same time, our profitability and liquidity have improved faster than originally expected, which is why we recently raised our outlook in this regard for the full year. We are thus making rapid progress on our path to becoming profitable in the second half of 2023 and can finance our growth from our own resources as planned."
For the third quarter, the successes from the reorganization carried out last year in conjunction with further sales growth are also clearly visible: with sales up 38.1% to EUR 8.7 million (Q3 2021: EUR 6.3 million), adj. EBITDA improved by as much as 69.0% to EUR -2.7 million (Q3 2021: EUR -8.7 million).
The increase in profitability visible in the operating result is also reflected in the development of cash and cash equivalents, which declined by only -10.3 million euros in the current year (9M 2021: EUR -36.1 million). This includes one-off payments for claims arising from the 2020 IPO to employees amounting to EUR 2.7 million for the full year 2022. Accordingly, cash and cash equivalents as of September 30, 2022 were EUR 16.9 million (Dec. 31, 2021: EUR 27.2 million), slightly better than originally expected.
Outlook for 2022
For fiscal 2022, management updated its full-year expectations at the beginning of November: According to this, annual recurring revenues (ARR) are expected to increase to between EUR 35.5 million and EUR 37.0 million. At the same time, the adjusted operating result (adj. EBITDA) is expected to improve to EUR -13 million to EUR -14 million (adj. EBITDA 2021: EUR -31.6 million). With cash and cash equivalents at the end of 2022 in the range of EUR 11 million to EUR 13 million, the management continues to see sufficient financial scope to achieve the medium-term growth targets.
Key figures:
(in Millionen Euro)
Q3 2022
Q3 2021
Change
9M 2022
9M 2021
Change
ARR (as of 30.9.)
33,9
27,5
+23,3%
33,9
27,5
+23,3%
Revenue
8,7
6,3
+38,1%
24,8
19,4
+27,8%
Adj. EBITDA*
-2,7
-8,7
+69,0%
-8,7
-23,0
+62,2%
30.9.2022
31.12.2021
Change
Flüssige Mittel
16,9
27,2
-37,9%
* EBITDA is adjusted for expenses from stock appreciation rights granted to the Executive Board and employees prior to the IPO in 2020.
About Exasol
Exasol was founded in 2000 with the vision to transform how organisations use data. Today, Exasol”s analytics database – the fastest in the world – is trusted by the world”s most ambitious organisations. With offices in several locations across the US and Europe, Exasol is committed to delivering flexible, scalable and powerful analytics solutions to customers wherever they are, in the cloud – public or private – or on-premises.
Exasol – the leading Performance Analytics Database powering insights from the world”s data.
Learn more at: www.exasol.com and follow us on social media: LinkedIn and Twitter
Investor relations contact:
Exasol AG
Christoph Marx
Head of Investor Relations
Tel: +49 911 2399 114
E-Mail: ir@exasol.com
16.11.2022 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.
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EXASOL AG is a Germany-based company. The Company engages as an analytics database management software company. The Company's product is Exasol which is a memory, column-oriented, relational database management system.
EXASOL AG 
