- Annual recurring revenue (ARR) growth of +30% to 53,5 MSEK.
- Recurring revenue amounts to 12,4 MSEK compared to 9,5 MSEK last year (+30%).
- Net Profit improvement year-on-year of 3,6 MSEK, reaching -1,7 MSEK.
- Return on Sales improvement from -55% one year ago to -11% in Q4 2023.
- Quarterly churn at 0,2%
- Yearly NRR at 117%
Classics
Full year (2023-01-01 to 2023-12-31)
- Net revenue amounted to 48 913 (35 825) KSEK (+37%).
- Loss after financials amounted to -6 329 (-17 127) KSEK.
-
Loss per share before dilution amounted to -0,16
(-0,49) SEK . -
Loss per share after dilution amounted to -0,16
(-0,48) SEK .
Fourth quarter (2023-10-01 to 2023-12-31)
- Net revenue amounted to 14 731 (9 583) KSEK (+54%).
- Loss after financials amounted to -1 690 (-5 311) KSEK.
-
Loss per share before dilution amounted to -0,04
(-0,15) SEK . -
Loss per share after dilution amounted to -0,04
(-0,15) SEK .
SaaS Traction
Fourth quarter (2023-10-01 to 2023-12-31)
- Annual recurring revenue (ARR) at the end of Q4 2023 reached 53 527 (41 325) KSEK, a year-on-year increase of +30%.
- Recurring revenue increased +30% to 12 381 (9 517) KSEK
- Churn for the quarter was 0,2%.
- Net revenue retention (NRR) was 117%.
Message from the CEO
Strong Sales in Q4, closing in on our mid-term financial targets
The fourth quarter marked a significant milestone for
Compared to our mid-term financial targets, we are making substantial progress. Our ARR growth after Q4 stands at 30%, and for the first time, we surpassed one of our three mid-term financial targets, 80 % gross margin, however, boosted by a few one-off revenue numbers. As for the third target, achieving profitability with an ARR of 65 MSEK, is approaching.
Ending 2023 in style but still not profitable
The main reason for the strong ending in 2023, was signing one of the world's largest insurance and medical assistance companies, based in
Seasonality effects, along with staff vacancies, got us very close to profitability in Q3, but it is still in the red for Q4. Q4 is usually a heavier quarter in terms of operating expenses. In this particular Q4, three primary factors contributed to this: filling staff vacancies, currency fluctuations, and a prudent decision to write down a direct client's value.
Management team complete
In Q4, we welcomed our new CRO,
In Q4 we also initiated the onboarding of our new CFO,
As we enter 2024, our management team is once again complete.
Outlook 2024
As we step into 2024, we still find ourselves in an unstable macroeconomic environment, mirrored by conflicts in
Despite the challenges in the macroeconomic environment, we are optimistic about 2024. We have a growing partner network, a best-in-class platform, a great team and it's worth mentioning that risk management has become a topic of discussion in most boardrooms across the globe.
During 2024, our main focus for investments will be towards
We are proud to lead the way in people risk management, protecting companies' most valuable assets - their employees.
For the full report: https://investor.safeture.com/financial-reports-presentations/
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