Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Morning Review
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
    • Transcripts
  • inderesTV
  • Portfolio
  • Forum
  • Q&A
  • About Us
    • Our Coverage
    • Team
Research

Agillic (One-pager) - Strategic reset bearing fruit as earnings momentum continues into 2026

Agillic
Download report (PDF)

Summary

  • Agillic's 2025 annual report shows EBITDA at DKK 8.4 million, exceeding guidance, with a 5% increase in ARR from subscriptions to DKK 56.7 million.
  • For 2026, Agillic forecasts ARR growth of 5-10%, an EBITDA margin of 12-18%, and positive free cash flow.
  • The strategic focus on Nordic markets and a streamlined sales organization is yielding results, with continued earnings momentum and expected margin expansion into 2026.
  • Agillic's valuation, with a 2026E EV/EBITDA of approximately 11x, suggests a shift in investor focus from ARR to earnings multiples, where it trades at a discount compared to Danish SaaS peers.

This content is generated by AI. You can give feedback on it in the Inderes forum.

Agillic today publishes its full 2025 annual report. EBITDA came in at DKK 8.4 million - above the high end of guidance - while ARR from subscriptions grew 5% to DKK 56.7 million. For 2026, the company guides for ARR growth of 5-10%, an EBITDA margin of 12-18%, and positive free cash flow.

In connection with the annual report, we have updated our Investment Case One-pager for Agillic.

The key conclusions are that the strategic shift toward Nordic core markets and a more focused sales organization appears to be delivering, and that earnings momentum continues into 2026 with further margin expansion expected. With 2026E EV/EBITDA of approximately 11x - and positive free cash flow in sight - investor focus may begin to shift from ARR multiples toward earnings multiples, where Agillic still trades at a significant discount to the Danish SaaS peer group.

In the One-pager, you can read about the investment case and the strategic drivers behind the results, key investment risks including capital structure and competitive dynamics, a comparison with the Danish SaaS peer group across ARR multiples, growth, and profitability, as well as valuation trends in the Danish and US SaaS markets. 

For further insight into the 2025 results and the expectations for 2026 you can watch the management presentation of the results here: https://www.inderes.dk/videos/agillic-praesentation-af-arsregnskabet-for-2025

Disclaimer: HC Andersen Capital receives payment from Agillic for a Digital IR/Corporate Visibility subscription agreement. /Michael Friis, 15:15, 26-02-2026.

Agillic is Danish software company within marketing technology (MarTech), headquartered in Copenhagen, Denmark. The Agillic platform is the trusted Nordic marketing automation platform, enabling personalisation that performs with scalability, operational efficiency, and full GDPR compliance. Agillic has proven business cases across verticals – e.g. finance, energy, media and publishing, charity and NGOs, and retail. For more information, please visit https://agillic.com/

Read more on company page

Forum discussions

I’m also starting a thread for this company followed by HCA Capital. Agillic is a Danish technology company that offers software as a SaaS service...
5/4/2022, 2:52 PM
by Yu Gong
5
Find us on social media
  • Inderes Forum
  • Youtube
  • Instagram
  • Facebook
  • X (Twitter)
Get in touch
  • info@inderes.se
  • +46 8 411 43 80
  • Vattugatan 17, 5tr
    111 52 Stockholm
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.