Today, MapsPeople has downgraded its guidance for the company’s Total Contracted ARR by the end of 2022 to the range of DKK 68-73m (before DKK 75-85m) due to prolonged customer decision-making processes from the macroeconomic uncertainty. The prolonged decision-making processes imply that final decisions from customers are being moved into 2023 according to MapsPeople.
The new guidance range corresponds to a total growth rate between approx. 65% and 78%. In the announcement, MapsPeople also comments on the pipeline of potential new contracts, which is still significant and growing.
MapsPeople maintains its revenue outlook in the range of DKK 26-31m and the EBITDA outlook in the range of DKK -58m and DKK -53m.
Read the full announcement here: https://view.news.eu.nasdaq.com/view?id=b7fcaf0feb1cc6c4fd3610335afd43568&lang=en
HC Andersen Capital receives payment from MapsPeople for a Corporate Visibility/Digital IR subscription agreement. /Kasper Lihn 16:38, 13 Dec 2022.
MapsPeople
MapsPeople is a Software-as-a-Service (SaaS) company focusing on digital mapping for indoor navigation. The two primary revenue streams are 1) MapsIndoors which is MapsPeople’s own developed mapping solution for indoor navigation 2) Google Maps partnership with Google. MapsIndoors is the key segment with high double-digit growth rates, and the Google Maps segment is expected to be a more steady business going forward. MapsPeople has a global presence with offices in Denmark, Germany, Singapore and United States, and customers include some of the largest brands in the world. The company has been listed at Nasdaq First North Premier in Denmark since June 2021.
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