At the end of the first quarter of 2022, Vertiseit's recurring SaaS revenue (ARR) amounted to SEK 80 million, an increase of 128 percent compared with the previous year. Sequential growth amounted to 10 percent compared with the previous quarter. Compared with the previous year, net revenue increased by 209 percent and EBITDA amounted to SEK 9 million. During the period, Vertiseit presented a public offer to the shareholders of MultiQ International AB.
THE QUARTER JANUARY-MARCH 2022
- Recurring revenue (SaaS) increased by SEK 13.5 million to SEK 22.2 million (8.7)
- At the end of the period, the Annual Recurring Revenue (ARR) amounted to SEK 80.3 million SEK (35.2), an increase of 128 percent
- ARR grew sequentially by 9.6 percent (6.7) compared to the previous quarter
- Adjusted for acquisitions, ARR increased organically by 51.5 percent compared with the previous year
- Net revenue increased by 209 percent to SEK 54.4 million (17.6)
- Profit before depreciation (EBITDA) amounted to SEK 8.9 million (2.5), and the EBITDA margin amounted to 16.3 percent (14.3)
- Profit after tax amounted to SEK 2.5 million (1.2)
- Earnings per share before and after dilution amounted to SEK 0.21 and SEK 0.19 (0.12 and 0.11, respectively).
COMMENT FROM CEO JOHAN LIND
“Despite turbulent times, the company's positive trend intensified during the first quarter. With an organic growth of our Annual Recurring Revenue (ARR) of 9.6 percent during the quarter, we passed an ARR of SEK 80 million. Market demand remains strong and there are no signs of a decline. The most exciting event from our perspective is the ongoing acquisition process of MultiQ, but the quarter was obviously overshadowed by the tragic development with Russia's invasion of Ukraine. We are once again in a time of war in Europe and our thoughts are with the Ukrainian people," comments Johan Lind, CEO of Vertiseit.
EVENTS DURING AND AFTER THE QUARTER
- On January 10, Vertiseit submitted a public offer to the shareholders of MultiQ International AB. Following the announcement of the Offer, Vertiseit has announced the acquisition of a total of 36,969,288 shares, corresponding to approximately 29.99 percent of the outstanding shares and votes in MultiQ, which together with binding commitments correspond to a total of approximately 76.59 percent of all shares and votes in MultiQ
- On January 26, Vertiseit held an Extraordinary General Meeting where it was decided to authorize the Board to decide on new issue of shares
- On February 1, Vertiseit announced the implementation of the new group structure and the launch of Grassfish's updated brand platform
- On March 25, Vertiseit announced that a framework agreement had been entered into with Volkswagen Group Sweden regarding platform solutions and related consulting services for Digital In-store
- On April 5, Vertiseit published a prospectus regarding the public offer to the shareholders of MultiQ, and in connection with this, the acceptance period began, which ends on April 27.
- On April 6, Vertiseit communicated the outcome of the exercise of warrants, entailing a capital injection to the company and a new number of shares
INVITATION TO PRESENTATION OF THE INTERIM REPORT
Vertiseit invites to an investor presentation where Johan Lind, CEO, and Jonas Lagerqvist, CFO, present the company's interim report for the first quarter of 2022. In connection with the presentation, there is an opportunity to ask questions.
When: Thursday 28 April at 3.00 pm CEST.
Participation: To attend the presentation – click here – or visit corporate.vertiseit.se where a link to the presentation is available.
The presentation will be held in Swedish.