Company Announcement No. 15-2021
Copenhagen, November 19, 2021
Financial report Q3 2021 - attached
As of 30 September 2021, RISMA had an ARR of 14.5 million DKK, which corresponds to the ARR-level that RISMA, in its initial guidance for 2021, estimated for 31 December 2021. RISMAs growth is, thereby, progressing faster than expected. In June, RISMA raised year-end expectations to 15.0-15.4 million DKK, which is still the expectation.
While at this stage still subject to uncertainty, the current ARR expectation for 31 December 2022 remains as communicated in connection with the IPO, i.e. in the interval 25-28 million DKK.
The key assumptions for the 2022 growth expectations are:
- RISMA shifts from a product first strategy to a growth strategy.
- The sales organization has been strengthened, including the addition of eight full-time sales employees during 2021. Furthermore, a significantly stronger partner network is now in place.
- The Norwegian and Swedish sales teams are expected to start contributing to ARR growth as from no later than January 2022.
- As the customers´ GRC work matures, many disregard point solutions in favor of multi-disciplin solutions.
- The competitive landscape primarily consists of point solutions - a market dynamic we do not expect to change in the foreseeable future.
Update on compliance dashboard
As previously communicated in the half year statement for H1 2021, RISMA is continuing work on the RISMA compliance dashboard targeted at senior executives at RISMA clients, enabling a multi-disciplin compliance overview across all RISMA product offerings. The development is proceeding according to plan, and the service is expected to launch during Q1 2022.
RISMA will to the best of our knowledge be the first GRC-software provider offering this overview.
Update on partnerships
Today, RISMA has signed a partner agreement with another assurance and advisory company. It is part of RISMAs strategy to service advisory and assurance companies of any kind as partners. This is also an important step to scale our business.
With this partnership, RISMA has to date signed five partnerships in 2021, compared to one in 2020. These partnerships are presently considered adequate. We may, however, sign a few more partnerships in 2021. In 2022 focus will mainly be on development of exiting partnerships.
Lars Nybro Munksgaard, CEO & Founder
Mobile (+45) 31 48 11 00
RISMA Systems A/S
Ejby Industrivej 34-38, 2600 Glostrup, Denmark
Jesper Skaarup Vestergaard
Direct (+45) 35 27 50 11, Mobile (+45) 31 79 90 00
Stockholmsgade 45, 2100 Copenhagen Ø, Denmark
About Risma Systems A/S
RISMA is a leading SaaS company helping organizations structure, handle, and document their efforts across the business-critical areas of Governance, Risk, and Compliance. RISMA’s unique and user-friendly GRC Suite makes cross-organizational collaboration easy to demonstrate and report on regulations and standards such as GDPR & Privacy, ISMS, Risk Management, Financial Controls, ESG and sustainability – and much more. RISMA is listed on Nasdaq First North with a mission to become a leading GRC platform for medium and enterprise businesses and organizations.
- Download announcement as PDF.pdf
- RISMA Systems Quarterly Report Q3 2021.pdf
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