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    EXL   DE000A0LR9G9

EXASOL AG

(EXL)
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Real-time Estimate Tradegate  -  07:49 2022-12-08 am EST
3.110 EUR   +2.64%
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Exasol increases ARR by 26% to EUR 32.5 million in first half of 2022, profitability significantly improved

08/17/2022 | 01:32am EST

DGAP-News: EXASOL AG / Key word(s): Half Year Results/Half Year Report
Exasol increases ARR by 26% to EUR 32.5 million in first half of 2022, profitability significantly improved

17.08.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


Exasol increases ARR by 26% to EUR 32.5 million in first half of 2022, profitability significantly improved

- ARR increases by 26.0% to EUR 32.5 million
- Adjusted EBITDA improves to EUR -6.0 million (H1 2021: EUR -14.4 million)
- Operating cash flow of EUR -7.6 million also above previous year (H1 2021: EUR -20.2 million)
- Cash and cash equivalents at EUR 19.3 million as of June 30, 2022
- Outlook for 2022 confirmed

Nuremberg, 17. August 2022: Exasol AG, a global technology company and provider of a high-performance analytics database, has confirmed the preliminary figures from the end of July with the 2022 half-year report presented today. According to the report, annualized recurring revenues (ARR) increased by 26.0% to EUR 32.5 million (June 30, 2021: EUR 25.8 million). The increase is attributable to both the expansion of revenues with existing customers and the acquisition of numerous new customers, especially in Exasol's key target industries. A total of 14 new customers were acquired in the first half of 2022 (H1 2021: 8), including nine in the second quarter alone (Q2 2021: 3). The total number of customers thus stood at 224 at the end of the first half of 2022, with the customer retention rate increasing by a further 3 percentage points year-on-year to 96%.

Revenues increased by 22.9% to EUR 16.1 million in the first half of 2022 (H1 2021: EUR 13.1 million). At the same time, the share of recurring revenue in total revenue went up to 96.4% (H1 2021: 87.0%). Together with a higher gross profit margin of 93.8% (H1 2021: 91.6%) and a further improved cost structure, the operating result (EBITDA) increased to EUR -4.1 million compared to EUR -14.6 million in the same period of the previous year. Adjusted for one-time effects, the operating result (adj. EBITDA) was EUR -6.0 million (H1 2021: EUR -14.4 million), which corresponds to an improvement of 58.3%.

The positive effects from the reorganization carried out last year in conjunction with unchanged dynamic revenue growth are even more evident for the second quarter of 2022: with an increase in revenue of 21.7% to EUR 8.4 million (Q2 2021: EUR 6.9 million), the adj. EBITDA improved by 77.8% from EUR -9.9 million in the same quarter of the previous year to now EUR -2.2 million.

The increase in profitability evident in the operating result is also reflected in the development of operating cash flow, which dropped to EUR -7.6 million in the reporting period (H1 2021: EUR - 20.2 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 June 30, 2022 stood at EUR 19.3 million (Dec. 31, 2021: EUR 27.2 million) and thus in line with expectations. The equity ratio stood at 47.3% at the end of the reporting period.

"The current results confirm the preliminary figures and underline that we are fully on target in terms of ARR, profitability and liquidity. The further increase in our customer base provides a good basis for our future growth," said Aaron Auld, CEO of Exasol. "We are particularly pleased that, despite the current macroeconomic challenges, our customer retention rate has increased once again. This is a clear sign of the importance which our customers attach to Exasol’s product offering."

Outlook 2022

For the fiscal year 2022, management continues to expect an increase in ARR to between EUR 38.5 million and EUR 40.0 million. At the same time, adjusted operating profit (adj. EBITDA) is expected to improve to between EUR -14 million and EUR -16 million (adj. EBITDA 2021: EUR -30.9 million). With cash and cash equivalents at year-end 2022 of between EUR 10 million and EUR 12 million, management continues to see sufficient financial headroom to achieve the medium-term growth targets.

Key Figures:

(in EUR million) Q2 2022 Q2 2021 Change H1 2022 H1 2021 Change
ARR (as of June 30) 32.5 25.8 +26.0% 32.5 25.8 +26.0%
Revenue 8.4 6.9 +21.7% 16.1 13.1 +22.9%
Adj. EBITDA* -2.2 -9.9 +77.8% -6.0 -14.4 +58.3%
             
  30.6.2022 31.12.2021 Change      
Liquid Funds 19.3 27.2 -29.0%      

* EBITDA is adjusted for expenses from stock appreciation rights granted to the Executive Board and employees prior to the IPO in 2020.

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



17.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


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: 1421973

 
End of News DGAP News Service

1421973  17.08.2022 CET/CEST

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