At the end of the first quarter of 2023, Vertiseit's annual recurring revenue (ARR) amounted to SEK 144 million, an increase of 80 percent compared to the previous year. The organic ARR growth amounted to 21 percent. Sequentially, ARR grew by around 5 percent compared to the previous quarter. Compared to the corresponding quarter last year, net sales increased by 47 percent to SEK 80 million. Adjusted EBITDA amounted to SEK 11 million.
THE QUARTER JANUARY – MARCH
- At the end of the quarter, annual recurring revenue (ARR) amounted to SEK 144.1 million (80.3), an increase of 80 percent compared to the previous year. SaaS revenues (Software as a Service) for the quarter increased by SEK 20.2 million to SEK 42.5 million (22.2).
- Sequentially, ARR grew by 4.6 percent (9.6) compared to the previous quarter. Adjusted for acquisitions, ARR increased organically by 21.0 percent compared to the previous year.
- Net sales increased by 47 percent to SEK 80.0 million (54.4).
- Adjusted for acquisition related costs, profit before depreciation (EBITDA) amounted to SEK 11.3 million (10.6) and the adjusted EBITDA margin to 14.2 percent (19.4). Unadjusted, profit before depreciation (EBITDA) amounted to SEK 11.2 million (8.9), and the EBITDA margin to 14.0 percent (16.3).
- The quarter's profit amounted to SEK 1.3 million (2.5).
- Total profit, including recalculation of foreign operations, per share before and after dilution, amounted to -0.16 SEK and -0.16 SEK (0.21 and 0.19 respectively).
EVENTS DURING AND AFTER THE QUARTER
- Vertiseit's election committee proposes that Ann Öberg be elected as a new board member at the Annual General Meeting as Emma Stjernlöf has declined re-election. Ann Öberg is CEO of Almega and has extensive experience from several positions in both private companies and authorities.
- From the first quarter of 2023, Vertiseit reports complete SaaS-metrics for the group.