Agillic: Key results from Q1 2024 and video of today’s management presentation
Agillic reported its Q1 2024 results this morning. As communicated in connection with the annual report, Agillic’s client base has been challenged by technology consolidations and M&A-driven changes. Moreover, the transactions business has declined significantly compared to Q1 2023. In Q1 2024, revenue was DKK 14.8m and total ARR was DKK 61.1m by the end of Q1 2024, corresponding to -9% YoY and -15% YoY, respectively. The more stable part of the top line, revenue subscriptions and ARR subscriptions, declined -4% YoY.
In Q1 2024, EBITDA increased to DKK 0.6m (DKK 0.0m in Q1 2023). Costs have been adjusted to the lower activity level which includes a reduction in employees from 50 by the end of Q4 2023 to 41 by the end of Q1 2024. Looking ahead, Agillic expects to increase this number slightly towards the end of 2024, primarily within its sales organization.
The company’s 2024 guidance is maintained due to expected growth from both existing and new clients during the year. This implies that Agillic expects revenue in the range of DKK 62-66m in 2024, total ARR in the range of DKK 66-74m (ARR subscriptions of DKK 56-60m and ARR transactions of DKK 10-14m) by the end of 2024, and EBITDA in the range of DKK 0-2m in 2024.
Earlier today, Agillic’s CEO Emre Gürsoy and CFO Claus Boysen presented the results for Q1 2024. The presentation was followed by a Q&A session. Watch the full presentation here: https://www.inderes.dk/videos/agillic-presentation-of-q1-2024-results
HC Andersen Capital receives payment from Agillic for a Corporate Visibility/Digital IR subscription agreement. /Kasper Lihn 14:50, 7 May 2024.
Agillic
Agillic är verksamt inom IT-sektorn. Bolaget utvecklar digitala plattformar där kunden använder plattformen för att lättare interagera med sina befintliga kunder. Produkten fungerar som en kunddatabas och innehåller diverse funktioner, med visionen att underlätta kommunikationen med kunderna, samt underlätta uppföljning och segmentering av diverse kundgrupper. Störst verksamhet återfinns inom den nordiska marknaden. Bolaget har sitt huvudkontor i Köpenhamn.
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