Agillic: Delivers on strategy, and growth accelerated in 2022
This morning, Agillic reported its financial results for 2022 and new guidance for 2023. Following three upgrades on the top line in 2022, Agillic accelerated its total ARR growth and revenue growth. Total ARR grew to DKK 76.7m (37.7% growth YoY) and revenue grew to DKK 67.0m (26.9% growth YoY).
Unfolding the total ARR, a significant part of the growth was driven by a significant increase in the use of Agillic’s platform (ARR transactions), which grew 126.0% to DKK 22.6m in 2022. ARR subscriptions grew 18.4% to DKK 54.1m by the end of 2022. Growth was supported by continued development in Agillic’s internationalization and partner strategy since 39% of the ARR subscription growth in new clients was from international markets (18% in 2021).
Overall, Agillic improved all its SaaS metrics in 2022. Based on Agillic’s definitions, net revenue retention rate was 106% in 2022 (103% in 2021), the average ARR per customer grew 14% to DKK 650,000 (DKK 570,000 in 2021), and months to recover CAC was 3 months in 2022 (8 months in 2021).
In line with Agillic’s 2022 guidance, EBITDA came in positive at DKK 1.1m (guidance range between DKK 0 and 3m) compared to DKK 0.7m in 2021. As the company increased its ARR transactions significantly with lower margins than on subscriptions, the gross margin decreased to 74% (85% in 2021).
Looking into 2023, Agillic’s total ARR guidance range is DKK 89-95m (16-23% expected growth), primarily driven by growth in ARR subscriptions (expected growth between 22% and 29%) and a more flat development in ARR transactions (expected growth between 2% and 11%). Revenue is expected to reach DKK 79-83m (18-24% expected growth). EBITDA is also expected to improve in 2023 (based on midpoint in guidance) with the EBITDA guidance range DKK 1m and DKK 4m.
In relation to the Reboot 2.1 strategy, Agillic has reached its financial goals of reaching double-digit percentage growth in ARR, positive cash flow from operations, and positive EBITDA. In addition to that, Agillic also introduces that the company expects positive cash-adjusted EBITDA as a new financial target for 2024.
You can meet and ask questions to Agillic’s CEO Emre Gürsoy and CFO Claus Boysen tomorrow at 13:00. Sign up for the event here: https://www.inderes.dk/videos/agillic-presentation-of-q4-results-2022-and-annual-report
HC Andersen Capital receives payment from Agillic for a Corporate Visibility/Digital IR subscription agreement. /Kasper Lihn 12:05, 23 February 2023.
Agillic
Agillic is a Danish Software as a Service (SaaS) company within marketing technology (MarTech), headquartered in Copenhagen, Denmark. Agillic’s omnichannel marketing automation platform empowers brands to work with data-driven insights and content to create, automate and send personalised communication to millions. Proven business cases are found in retail, finance, travel & hospitality, energy & utility, technology & software, entertainment & gaming, media & publishing, charity & NGO, and in subscription businesses across all industries.
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