Company announcement no 8-2024

Søborg, April 26, 2024

Konsolidator maintains its financial expectations for 2024
In Q1 2024, Konsolidator delivered ARR growth of 4% (YoY). The focus has been on establishing our Iberia sales office and preparing and launching the growth initiatives, including the new Microsoft D365 partner channel. Improving churn and increasing direct sales remain top priorities together with the growth initiatives. Konsolidator maintains its financial expectations of DKK 24-28m in ARR in 2024.

2024 is well underway, and Konsolidator has signed 7 new customers. However, Konsolidator has also lost 11 customers during Q1 2024m, thus churn has the utmost attention. Konsolidator expects to see an improvement in churn in the second half of 2024.

In Q1 2024, Konsolidator initiated a Customer Success academy, which will be implemented in Q2 2024. Further in March 2024, Konsolidator elected a new board member, Michael Rasmussen. As VP of technical engagement in the SaaS company, Queue-it, Michael brings experience in building a Customer Success department.

As mentioned in the annual report 2023, the growth initiatives combined with exploring new business segments for the company’s consolidation engine, and the efforts to minimize churn, Konsolidator remains positive about the ARR development for 2024.

"To regain growth momentum, we have initiated several projects that we will benefit from in 2024. These initiatives will improve ARR and profitability” says CEO Claus Finderup Grove.

Q1 2024 Financial highlights

• On March 31, 2024, ARR amounted to DKK 19.4m compared to DKK 18.6m on March 31, 2023, corresponding to an increase of 4%.
• Revenue in Q1 2024 amounted to DKK 5.0m compared to DKK 4.7m in Q1 2023, corresponding to an increase of 8%.
• EBIT for Q1 2024 amounted to a loss of DKK 2.7m compared to an EBIT loss of DKK 2.9m in 2023.
• Total cash and cash equivalents amounted to DKK 0.2m on March 31, 2024 compared to DKK 0,2m at the end of March 2023.
• The total equity amounted to a negative equity of DKK 1.7m on March 31, 2024 compared to a negative equity of DKK 14.8m a year before. As announced on April 25, 2024, Konsolidator has received positive interest from private investors including the board of directors and management to participate in a future directed issue of shares to reestablish the equity.
  
  

Outlook
We maintain our outlook for 2024 which is as follows:

• ARR is expected to be in the range of DKK 24-28m by the end of 2024
• Revenue is expected to be in the range of DKK 23-27m.
• EBIT is expected to be a loss in the range of DKK 0-5m.
  
  

Investor webinar
On April 30 2024 at 10.00 (CET) an investor webinar will be held. Sign up using this link.

Contacts

• CEO: Claus Finderup Grove, mobile +45 2095 2988, cfg@konsolidator.com
• CFO: Jack Skov, mobile, +45 2282 8845, js@konsolidator.com

Certified Adviser

• Grant Thornton, Jesper Skaarup Vestergaard, phone +45 3527 5011, www.grantthornton.dk
  
  

About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL