MapsPeople

We have released an updated version of our investment case one-pager on MapsPeople following the company's announcement of an offering of new shares with preemptive rights for existing shareholders.

Yesterday, MapsPeople was represented by the company's CEO Morten Brøgger and Chairman Lars Brammer to present the Q1 2023 results and the recent news, including the offering of new shares with pre-emptive rights for existing shares. The presentation was followed by a Q&A session. 

Today, MapsPeople announced an offering of new shares with pre-emptive rights for existing shareholders. If the offering is fully subscribed, MapsPeople receives gross proceeds of approx. DKK 34.2m (up to 12,220,769 new shares at a subscription price of DKK 2.80 per 1 new share).

Today, MapsPeople announced its Q1 2023 results, reporting a total ARR of DKK 38.9m by the end of the quarter, corresponding to 31% growth YoY. As announced at the beginning of May, this number has grown to DKK 48m during Q2, mainly driven by the acquisition of Point Inside’s activities with an addition of DKK 8m in new ARR.  

From a valuation perspective, the sector has been hit by a higher interest rate environment, which potentially could have peaked. At the same time, we have seen a lower growth rate in Q1 2023 from the listed global SaaS companies, which is now closer to Gartner's projected 2023 SaaS global market growth.

Do you want to know more about the latest development in the SaaS sector and get investment insights from an institutional Nordic SaaS investor as well as presentations of listed SaaS companies and recent insights from their management?

Our third monthly Software-as-a-Service (SaaS) newsletter is out! In our newsletter, we shed light on the recent market development and the current trend of companies being taken off the stock market (takeover and delistings).

Yesterday after the market was closed, MapsPeople announced a downgrade in its guidance for 2023, a new expected capital raise, and a new outlook for 2024.

Today, MapsPeople announces the acquisition of all Point Inside’s customer contracts and indoor mapping assets. Point Inside is a US-based indoor mapping company founded in 2009. The acquired indoor mapping assets from Point Inside include indoor maps of more than 1,8000 shopping malls in the US and more than 200 airports globally.