Agillic

Today, Agillic announced Viking Venture as the new largest shareholder with an ownership of 20.48%, including an injection of approx. DKK 22.5m in new capital (share capital increase of 7.81%). The acquired shares will be a combination of existing shares sold by six existing Agillic shareholders and issuing of new shares to market price, corresponding to DKK 28.08 per share.

Today, we have released an updated version of our investment case one-pager on Agillic following last week’s annual report for 2022 and the new guidance for 2023. Following three upgrades on the top line in 2022, Agillic accelerated its total ARR growth and revenue growth, and also achieved a positive EBITDA in line with the recent EBITDA guidance.

Yesterday, 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). In line with Agillic’s 2022 guidance, EBITDA came in positive at DKK 1.1m (guidance range was between DKK 0 and 3m) compared to DKK 0.7m in 2021. Watch the full presentation with the company’s CEO Emre Gürsoy and CFO Claus Boysen.

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). In line with Agillic’s 2022 guidance, EBITDA came in positive at DKK 1.1m (guidance range of DKK 0 and 3m) compared to DKK 0.7m in 2021.

The SaaS HCA Index, measured on a simple ARR multiple (median) across 19 listed Danish SaaS companies, increased slightly to 4.3x ARR by the end of January 2023 from 4.2x ARR by the end of December 2022. However, the SaaS companies’ share prices increased by a median return of approx. 14% in the first month of 2023 and thus rebounding from larger declines during 2022. In general, the relatively small increase in the median ARR multiple itself is explained by new higher reported ARR numbers from some of the SaaS companies, which have updated the market with end of 2022 numbers.

The SaaS HCA Index, measured on a simple ARR multiple (median) across 19 listed Danish SaaS companies, declined to 4.2x ARR by the end of December 2022 from 4.6x ARR by the end of November 2022. Note the index shows the development over time for the sector, using the latest reported ARR numbers (which differ between the companies), and almost all companies have been tracked for at least a year (the latest SaaS IPO was in December 2021).

HCA Market Close 20.12.22 – Roblon posts its annual results for 2021/22, Agillic raises its FY 2022 guidance, and Audientes announced its rights issue was fully subscribed.

Today, Agillic has raised its guidance for 2022 on total ARR and revenue for the third time in 2022. The revenue guidance is now DKK 65-67m (previously DKK 61-65m), and the total ARR is now expected to be DKK 72-78m (previously DKK 68-76m). Looking at the ARR split between subscriptions and transactions, the upgrade is driven by ARR transactions as this is upgraded to DKK 18-21m (previously DKK 12-16m), and the guidance range for ARR subscriptions is lowered to DKK 54-57m (previously DKK 56-60m). This shows that the engagement on the Agillic platform has been high, however, the lower ARR subscriptions range could be a result of the uncertain macroeconomic environment. EBITDA guidance is kept in the range of DKK 0 to 3m.

HC Andersen Capital and Inderes have the pleasure of inviting you to a virtual seminar focusing on the First North and Spotlight listed growth companies in the Nordic region. The macroeconomic environment has been challenging in 2022, and we are now looking into 2023. Get an update on several growth companies and industries before year-end and ask your questions directly to the management.

Nordic public markets host a broad selection of SaaS companies. In this article, we will give you an overview of 26 listed SaaS companies from Finnish and Danish markets, their respective software categories as well as their maturity stage. This article aims to serve as a starting point for finding interesting companies in the Nordic SaaS sector and help guide you toward content on these companies.

Agillic yesterday reported 36% ARR growth in Q3 2022, restated the expectation to be profitable (EBITDA) in 2022 and gave 2023 strategic financial goals, showing continued growth momentum.

This morning, Agillic announced its Q3 2022 results, which are in line with the upgraded 2022 guidance earlier this week. Total ARR was DKK 69.9 million, corresponding to a 36% growth YoY, primarily driven by a significant increase in ARR transactions. Revenue YTD increased 19% YoY to DKK 46.6 million, showing that Agillic’s ARR has increased more than its revenue.

Agillic today raised its 2022 guidance ahead of the Q3 report that will be released on Friday 14 October. The guidance on ARR (new guidance: DKK 68-76m, before: DKK 66-74m) and revenue (new guidance: DKK 61-65m) are raised with DKK 1m in the bottom and in the top end of the interval. The guidance on earnings (EBITDA) is kept at DKK 0-3m.

SaaS Seminar, organized by HC Andersen Capital, started with the sector review. HCA includes main analyst Michael Friis and analyst Kasper Tihen, from Inderes analyst Antti Luiro.

The marketing automation software market is expected to triple from 2020 to 2027, corresponding to a CAGR of approx. 18%. Growth rates are supported by increasing omnichannel focus and companies shifting to a more digital business and sales model. For Agillic’s targeted markets, potential extra growth may arise due to a privacy trend and more focus on valuable company-owned first-party data.