Agillic A/S Reports H1 2024 Financial Results
Agillic A/S has published its financial report for the first half of 2024. The results show a 6% decline in Annual Recurring Revenue (ARR) from subscriptions compared to the previous year. This decrease is mainly attributed to challenges stemming from client technology consolidations and mergers and acquisitions that occurred in the first quarter of 2024. Despite these hurdles, the company is holding steady with its financial guidance for the rest of the year, anticipating growth fueled by both existing and new clients, as well as cost-cutting measures implemented in the first half of 2024.
Financial Performance Overview
In the first half of 2024, Agillic reported a net profit of DKK 3.6 million, a notable recovery from a loss of DKK 4.7 million during the same timeframe last year. This positive shift is largely due to favorable adjustments made by the Danish Tax Authorities, which approved a significant portion of a tax credit extending from 2019 to 2022.
Key Financial Metrics
Below are some key highlights from Agillic's financial report:
- Subscription revenue totaled DKK 24.9 million, down from DKK 26.6 million year-on-year.
- Transaction revenue fell by 23%, decreasing to DKK 4.7 million from DKK 6.1 million.
- Total revenue experienced a 9% decline, amounting to DKK 29.6 million compared to DKK 32.7 million in H1 2023.
- EBITDA was recorded at DKK 0.6 million, a decrease from DKK 1.0 million in the previous year, reflecting a 40% drop.
- Despite the revenue decline, the gross profit margin improved slightly to 82%, up from 80% in H1 2023.
ARR Development and Guidance
Agillic's ARR from subscriptions has decreased by 6% compared to last year, now standing at DKK 51.7 million, down from DKK 54.9 million. The ARR from transactions also saw a decline, dropping to DKK 10.0 million, which is a 13% decrease.
The company is focused on driving revenue growth and expects that the second half of the year will show improved performance, supported by infrastructural investments and efficiency strategies. The guidance for 2024 remains unchanged, with projected revenues between DKK 62 to 66 million and EBITDA estimated to be in the range of DKK 0 to 2 million.
Contact Information for Investors
For further inquiries, interested parties can reach out to:
Emre Gürsoy, CEO
Phone: +45 30 78 42 00
Email: emre.gursoy@agillic.com
Claus Boysen, CFO
Phone: +45 28 49 18 46
Email: claus.boysen@agillic.com
Certified Adviser
John Norden, Norden CEF A/S
About Agillic A/S
Agillic A/S is a Danish software company that empowers brands by providing data-driven insights and content for creating and automating personalized communications at scale. With its headquarters in Denmark and teams located in Germany, Norway, and Romania, Agillic is dedicated to enhancing client engagement through strategic communication solutions.
Frequently Asked Questions
1. What were the key financial highlights for Agillic in H1 2024?
Agillic reported a 6% decrease in subscription ARR, a net profit of DKK 3.6 million, and an EBITDA of DKK 0.6 million.
2. How has Agillic's ARR changed compared to the previous year?
The ARR from subscriptions has decreased from DKK 54.9 million to DKK 51.7 million, representing a 6% decline.
3. What measures is Agillic taking to improve its financial outlook?
The company is implementing cost-cutting strategies while focusing on acquiring new clients and maximizing growth from existing contracts.
4. What guidance has Agillic provided for the remainder of 2024?
Agillic maintains its guidance for 2024, projecting revenues between DKK 62 to 66 million and EBITDA ranging from DKK 0 to 2 million.
5. Who can be contacted for investor inquiries regarding Agillic?
Investors can reach out to Emre Gürsoy, CEO, or Claus Boysen, CFO, directly via phone or email for any inquiries.
