- Q2 2022 revenue of$110m , at the high end of guidance - Revenue growth of 18% in constant currency for Q2 and H1 - Updates full year 2022 revenue guidance due to FX impact - Raises 2022 Adjusted EBITDA margin guidance driven by operational efficienciesOslo ,30 August 2022 : Meltwater (ticker: MWTR) has announced financial results for the second quarter and first half-year ended30 June 2022 . Second Quarter 2022 Financial Summary Results o Q2 2022 Revenue: Total Revenue was$110m , representing growth of 12% year-over-year. Adjusting for constant currency, Revenue was$116m , representing growth of 18% year-over-year o H1 2022 Revenue: Total Revenue was$219m , representing growth of 14% year-over-year. Adjusting for constant currency, Revenue was$228m , up 18% year-over-year o Q2 Adjusted EBITDA: Adjusted EBITDA for the second quarter 2022 was$5.5m , or 5% of revenue o H1 Adjusted EBITDA: First-half 2022 adjusted EBITDA was$13.9m or 6.3% of revenue o Positive Cash Flow from Operations: First-half 2022 generated$11.9m positive cash flow from operations, compared to$6.4m in the prior year period "Meltwater built upon a strong first quarter performance to deliver a solid second quarter with revenue up 18% year-over-year on a constant currency basis. Despite strong FX headwinds, we also continued to see improvements in cash flow from operations, which was positive$11.9 million in the first half, an 86% improvement on the same period the prior year. The strong development in positive cash flow from operations provides the flexibility to invest in future growth. Adjusted EBITDA in Q2 and H1 2022 was very much in line with our forecast as we continue to invest in our growth initiatives, on a constant currency basis both metrics trend even stronger. Despite FX fluctuations and the challenging geopolitical situation, we continue to see strong demand in the market, and are satisfied with our financial position heading into the second half of the year," says Meltwater CEOJohn Box . Second Quarter 2022 KPIs and Highlights "In the second quarter of 2022, Meltwater continues to execute on key strategic focus areas of Premium accounts and Social products, which grew organically by 24% and 30%, respectively. Major KPIs continued to trend well in the second quarter. The Premium segment showed the most impressive performance, with$10 million of ARR added in Q2. Combined with$8 million reported in Q1, the Premium segment now represents 51% of total ARR. Growth from $100k+ ARR accounts was especially impressive with a net addition of 367 new clients in the quarter, representing year-over-year growth of 28%. New customers in the cohort includeDoorDash ,Brenntag AG , Kao,Restaurant Brands International , Cintas, Kayak,DXC Technology andUnited Service Organizations . Additionally, net retention rates continued to improve across the business. We continue to see strong demand for our products and are solidifying our position as the number one provider of media and social intelligence in the market globally," saysJohn Box . Guidance and Outlook "We are updating our 2022 revenue guidance to account for FX headwinds. We have identified operational efficiencies and are raising our guidance for Adjusted EBITDA for the full year from 6-7%, to 7%+. Our focus remains on driving growth and looking for operational efficiencies that will ultimately drive us towards our long-term targets of 20% revenue growth and 20%-plus Adjusted EBITDA margins,"John Box adds. Updated full year 2022 guidance, including FX impact: o Meltwater expects to deliver revenue of$109-110m in Q3 2022 o Revenue of$440-$445m in full year 2022, driven by targeted ARR of~$500m o The reduction of revenue and ARR is a result of material FX headwinds o The Company is improving adjusted EBITDA margin guidance to 7%+ for 2022 Please find enclosed the presentation material and the interim report for the second quarter and first half-year 2022. The results will be presented on 30 August at05:00 pm CEST in a live Zoom webinar and subsequent Q&A session with CEOJohn Box and CFOLena Shishkina . Please use this link to register for the webcast: https://meltwater.zoom.us/webinar/register/WN_2b9ztBkATKybhxKgRbz5MQ The webinar will be recorded and made available on www.meltwater.com A live, audio-only version of the webinar is also accessible via dial-in:Norway : +47 2400 4735 or US: +1 312 626 6799, webinar ID: 971 0663 3868, passcode: 08603617. For further information, please contact:Elise Heidenreich (Investor Relations and Media Contact Oslo) eh@meltwater.com Brinlea Johnson (Investor Relations and Media Contact New York) ir@meltwater.com About Meltwater Meltwater provides social and media intelligence. By examining millions of posts each day from social media platforms, blogs and news sites, Meltwater helps companies make better, more informed decisions based on insight from the outside. The company was founded inOslo, Norway , in 2001 and is headquartered inSan Francisco, California , with 50 offices across six continents. The company has 2,300 employees and 27,000 corporate customers, including industry leaders in several sectors. Learn more at meltwater.com. This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. Thisstock exchange announcement was published byElise Heidenreich , Investor Relations atMeltwater N.V. , on30 August 2022 at16:30 CEST .
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