At the end of the fourth quarter of 2022, Vertiseit's Annual Recurring Revenue (ARR) amounted to SEK 138 million, an increase of 88 percent compared to the previous year. The organic ARR growth amounted to 20 percent. Sequentially, ARR grew by around 6 percent compared to the corresponding quarter the previous quarter. Compared to the previous year, net sales increased by 116 percent to SEK 99 million. Adjusted EBITDA amounted to SEK 13 million compared to SEK 9 million the previous year.
THE QUARTER OCTOBER – DECEMBER 2022
- At the end of the quarter, Annual Recurring Revenue (ARR) amounted to SEK 137.7 million (73.3), an increase of 88 percent compared to the previous year. SaaS revenues (Software as a Service) for the quarter increased by SEK 20.7 million to SEK 42.4 million (21.7).
- Sequentially, ARR grew by 5.6 percent (11.1) compared to the previous quarter. Adjusted for acquisitions, ARR increased organically by 19.6 percent compared to the previous year.
- Net sales increased by 116 percent to SEK 98.9 million (45.8).
- Adjusted for transaction costs related to acquisitions, earnings before depreciation (EBITDA) amounted to SEK 13.2 million (8.9) and the adjusted EBITDA margin to 13.3 percent (19.4). Unadjusted, earnings before depreciation (EBITDA) amounted to SEK 12.1 million (8.5), and the EBITDA margin to 12.3 percent (18.5).
- The quarter's profit amounted to SEK 8.0 million (0.9).
- Earnings per share before and after dilution amounted to SEK 0.58 and SEK 0.52 respectively (0.11 and 0.10 respectively).
THE YEAR JANUARY – DECEMBER 2022
- SaaS revenues (Software as a Service) increased during the year by SEK 74.1 million to SEK 136.4 million (62.3) compared to the previous year.
- Net sales increased by 141 percent to SEK 314.7 million (130.6).
- Adjusted for transaction costs related to acquisitions, earnings before depreciation (EBITDA) amounted to SEK 47.7 million (19.8) and the adjusted EBITDA margin to 15.1 percent (15.1). Unadjusted, earnings before depreciation (EBITDA) amounted to SEK 35.4 million (17.1), and the EBITDA margin to 11.2 percent (13.1).
- The result for the period amounted to SEK 9.3 million (2.5).
- Earnings per share before and after dilution amounted to SEK 1.27 and SEK 1.14 respectively (0.29 and 0.26 respectively).
- The board's proposal to the 2022 annual general meeting is that no dividend to shareholders shall take place for the financial year 2022, in line with the company's financial goals.
COMMENT FROM CEO JOHAN LIND
”In the fourth quarter of 2022, we continue to deliver organic ARR growth of 20 percent – under maintained profitability.
In our business, we continue to see no signs of a slowdown or reduced demand among our customers. Given a turbulent market and an uncertain economic outlook, this feels extra positive, and we look forward with great confidence to developing in line with our long-term goals during the year, ” comments Johan Lind, VD i Vertiseit.
EVENTS DURING THE QUARTER
- Vertiseit strengthened the organization in the subsidiary Grassfish for the continued international expansion and appointed Ann Hjelte as the new managing director.
Vertiseit invites you to an investor presentation where Johan Lind, CEO, and Jonas Lagerqvist, CFO, will present the company's Eear-end report for 2022. In connection with the presentation, there is an opportunity to ask questions. The presentation will be held in Swedish.
Time: February 15, at 09.00
Participation: To join the presentation – click here