CEO
"In the period
- 65% revenue growth year on year
- 99% growth in gross margin (Revenue-CoGS)
- Stable OPX year on year (+3%)
- Growth in annual recurring revenue (ARR) of 7%
- EBITDA of TDKK -2.358 vs budget of TDKK -5.373 and last year TDKK -7.173
- Result of TDKK -3.648 vs budget of TDKK -6.405 and last year of TDKK -8.582
- Cash receipts of TDKK 18.545 vs budget of TDKK 19.233 and last year 12.182
We see our growth rate in revenue and gross margin as a testament to our SaaS business model and the solutions we enable for our clients.While achieving this solid growth rate, the Company has continued to focus on profitability and has maintained virtually unchanged operating expenses (OPX).
During the Period our pipeline grew at the expected rate and while lead times remain long and we observed some uncertainty in the market we expect to deliver the budgeted annual result.
Our current clients' implemented programs continued to perform well during the Period, and several clients opted to add further modules and solutions to their platform. While at different stages of maturity, all current programs achieved growth year-on-year, and with several clients now expanding to other countries, we have a firm client base on which to build future growth.
During the period we experienced the first customer churn, which will not significantly impact this financial year.
The financial performance in the Period is satisfactory, showing improvement in all but one KPIs. The one KPI that is not satisfactory is the growth rate in ARR of 7%. We will work hard on improving the growth in ARR in the coming 6 months.
Our most important resource, our employees, continued to do an outstanding job. Despite being quite busy, we have maintained our focus on work-life balance, inclusivity and on providing flexible working hours and locations. Our IT hub in
We truly believe in putting employees first and that "team is everything", so a big thank you to everyone at
HIGHLIGHTS FOR THE FIRST HALF YEAR 1/7-31/12 2023
Business and operational highlights
During the Period the Company reached several milestones including:
- Signed long term agreement with
Cathay Pacific Airways , our first client based inAsia - Delivered a range of platform upgrades to existing clients, incl new payment scheme integrations
- 65% revenue growth year on year
- 99% growth in gross margin (Revenue - COGS)
- Stable OPX year on year (+3%)
- EBITDA of TDKK -2.358 vs budget of TDKK -5.373 and last year TDKK -7.173
- Result of TDKK -3.648 vs budget of TDKK -6.405 and last year of TDKK -8.582
- Continued building our pipeline on direct and partner sales
- Visa VMLS pipeline showing healthy growth
- Several new modules for LoyalTfacts® under development, some AI based.
- Started ISO 27001/018/019 and Soc2-Type 2 compliance project, to complement our PCI DSS Level1 compliance.
Conference call to present first half of financial year 2023/24
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This financial report constitutes inside information that
For further information about the Company, please contact
Phone: +45 21 28 69 60
E-mail: pki@loyalsolutions.eu
Website: www.loyalsolutions.eu
Certified Adviser
www.skmg.se
We have our HQ in
https://news.cision.com/loyal-solutions-a-s/r/loyal-solutions-announces-financial-results-for-the-first-half-of-the-financial-year-2023-24,c3916782
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https://news.cision.com/loyal-solutions-a-s/i/buisness,c3261411
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