EXPERT.AI S.P.A. Mid & Small Cap in
Milan 2021
December 2, 2021
Highlights: acceleration in strategic focus areas
Product Leadership
Subscription | Platform | ||
revenue | Launch | ||
+102% YoY | Team to win | ||
Partner revenue | Simple, powerful, | ||
practical NLU | |||
67 YoY Adds | |||
+133% YoY | |||
Focus on NA sales | |||
and marketing, | |||
engineering |
HY Compares 2020 vs. 2021
ACT | ACT | ||
June - €/m | H1 2020 | H1 2021 | |
Total revenues | 10,6 | 11,8 | 11% |
Total costs | (16,6) | (19,9) | 20% |
COGS | (6,6) | (6,9) | 4% |
S&M | (5,3) | (8,6) | 62% |
G&A | (4,6) | (4,4) | -4% |
EBITDA | (5,9) | (8,1) | 36% |
EBIT | (9,1) | (11,6) | 27% |
Net Result | (4,3) | (11,0) | 155% |
Net Financial Position | (2,0) | (11,3) | (9,3) |
Shareholder's Equity | 23,3 | 37,1 | 13,8 |
C OMMENTARY
- IFRS financial statements
- Revenue growth driven by subscription
- Accelerated investment in NA market
- Cash & equivalents equal to €44.6M vs. €31.6M in 2020
- IFRS impact: higher cost of €1.4M in 2020 and €1.2M in 2021 mainly due to stock grants and stock options ; higher financial debt of €1.8M in 2020 and €2.0M in 2021 connected to leases.
Recurring revenue momentum…
Revenue stream | HY 2020 | % | HY 2021 | % | Var | Var % |
Recurring revenues | 4.4 | 42% | 6.3 | 53% | 1.8 | 41% |
Subscription | 2.2 | 21% | 4.5 | 39% | 2.3 | 102% |
Maintenance | 2.2 | 21% | 1.7 | 15% | (0.5) | -22% |
Perpetual license | 0.7 | 6% | 0.7 | 6% | (0.0) | 8% |
Professional Services | 4.1 | 39% | 3.5 | 30% | (0.7) | -16% |
*Other | 1.4 | 13% | 1.3 | 11% | (0.1) | -7% |
TOTAL REVENUES | 10.6 | 11.8 | 1.2 | 11% | ||
* Includes hosting and grant revenues
C OMMENTARY
- Recurring revenue
- 53% of total revenue
- 41% YoY growth
- Subscription
- 39% of total
- 102% YoY growth
- Decrease in professional services
- Channel revenue of €1.9M
- ~17% of total
- 133% YoY growth
- Building capacity in US
- Sales adds joined 1H 2021
- Demand generation launched
- Strength in core verticals
- Expanding to data practice
From EBITDA to Net Results:
Hy 2020 vs. Hy 2021
ACT | ACT | ||
June - €/m | H1 2020 | H1 2021 | |
EBITDA | (5,9) | (8,1) | (2,2) |
Amortization of Intangible Assets | (3,0) | (3,3) | (0,2) |
Amortization of Tangible Assets | (0,1) | (0,1) | (0,0) |
Depreciation | 0,0 | (0,1) | (0,1) |
EBIT | (9,1) | (11,6) | (2,5) |
Financial Income/(Expense) | (0,3) | (0,3) | 0,0 |
Exch. Gains / (Losses) unrealized | (0,3) | 0,6 | 0,9 |
Capital gain from disposal | 5,1 | 0,0 | (5,1) |
Result before taxes | (4,5) | (11,2) | (6,7) |
Taxes | 0,2 | 0,2 | 0,1 |
Net Result | (4,3) | (11,0) | (6,7) |
C OMMENTARY
-
Amortization mainly
R&D costs (€3.0M in 2020 and €2.8M in 2021). - €5.1M capital gain from CY4Gate in 2020
- Unrealized exchange gain of €0.6M related to €/$ exchange rate impacting intercompany exposure
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Expert System S.p.A. published this content on 02 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2021 07:50:07 UTC.
