Agillic A/S presents Q4 2019 results and releases annual report for 2019
February 20 2020 - 2:00AM
Agillic A/S presents Q4 2019 results and releases annual report for
2019
Announcement no. 3 2020
Copenhagen – 20 February 2020 – Agillic A/S (Nasdaq
First North Copenhagen: AGILC) publishes its Q4 2019 results and
annual report 2019. In 2019, revenue amounted to DKK 53.8 million,
an increase of 38% compared to 2018, Annual Recurring Revenue (ARR)
grew by 10%, compared to 2018 and EBITDA amounted to DKK -15.4
million. Although a solid growth, the result for 2019 was below
expectation, mainly caused by an atypical high churn rate and a
delay in the international sale. For 2020, the Company expects to
increase EBITDA with DKK 16-21 million and become EBITDA positive.
Further, a process aimed at raising DKK 20-25 million in a share
issue is initiated.
Jesper Valentin, CEO of Agillic, comments:
“In 2019, Agillic’s internationalisation strategy through
partnerships resulted in the entry into Australia and the U.S. We
are looking forward to expanding our presence further in these
highly attractive markets. Our revenue grew by 38% compared to
2018, and we achieved an Annual Recurring Revenue of DKK 55.1
million. Although a solid growth, the realised revenue was below
expectations which we took action to mitigate. We have made
substantial investments in product innovations, such as Agillic 3rd
generation AI, a new user interface and native integrations to paid
media enabling our clients to optimise the effect and ROI of
digital advertising significantly. We believe this positions
Agillic favourably in 2020 and going forward, and we confirm our
expectation of a positive EBITDA in 2020.”
Financial result for Q4 2019
- Total revenue in Q4 2019 amounted to DKK 13.7 million compared
to DKK 12.2 million in Q4 2018, an increase of 12%
- Gross profit in Q4 2019 amounted to DKK 10.8 million compared
to DKK 9.7 million in Q4 2018, an increase of 11%
- Gross profit margin in Q4 2019 was 79% compared to 79% in Q4
2018
- EBITDA amounted to DKK -4.3 million in Q4 2019 compared to -6.3
million in Q4 2018
- Annual Recurring Revenue (ARR) end-of-year 2019 amounted to DKK
55.1 million, an increase of 10% compared to end-of-year 2018
- The license part of Annual Recurring Revenue (ARR) increased by
15% from DKK 39.6 million end-of-year 2018 to 45.5 million
end-of-year 2019
- The transaction part of Annual Recurring Revenue (ARR)
decreased by 9% from DKK 10.5 million end-of-year 2018 to 9.6
million end-of-year 2019.
Operational highlights Q4 2019
- The Company entered into Australia and the U.S., winning its
first clients together with partners
- New strategic partnerships were formed with, among others, S360
(Denmark), VIU (Switzerland) and Webit (Germany)
- New user interface (UI) launched. Apart from innovating the UI,
the source code was refactored which enables Agillic to more easily
leverage cloud services
- Native integrations to the Google, Facebook and Adform
ecosystems were fully released. This enables clients to activate
their own data in the paid media channels
- 3rd generation of Agillic’s AI was launched, enabling clients
and partners to more easily leverage the business potential of
AI
- The development and the operation of Agillic AI was migrated to
Amazon Web Services (AWS).
Financial result for the full-year 2019
- Revenue in 2019 amounted to DKK 53.8 million, an increase of
38% compared to 2018
- Gross profit amounted to DKK 41.7 million, an increase of 42%
compared to 2018
- Gross profit margin was 78% in 2019 compared to 75% in
2018
- EBITDA amounted to DKK -15.4 million compared to DKK -19.1
million in 2018.
- Annual Recurring Revenue (ARR) end-of-year 2019 amounted to DKK
55.1 million, an increase of 10% compared to end-of-year 2018
- The license part of Annual Recurring Revenue (ARR) increased by
15% from DKK 39.6 million end-of-year 2018 to 45.5 million
end-of-year 2019
- The transaction part of Annual Recurring Revenue (ARR)
decreased by 9% from DKK 10.5 million end-of-year 2018 to 9.6
million end-of-year 2019.
Operational highlights 2019
- Establishment of Swedish office in Stockholm
- Establishment of Swiss Office in Zurich
- The organisation was fortified with 7 (net) new colleagues
throughout 2019. In particular, R&D and the sales teams in
Denmark, Sweden and UK were reinforced. In Sweden, a Country
Manager joined as of 1 January 2019. In UK, a Business Director
joined as of 1 August 2019, and in the DACH region, a Managing
Director joined as of 1 August 2019. All of them contributing with
years of experience and valuable expertise
- The Company continued to form strategic partnerships in Denmark
and internationally to accelerate the expansion. New partners
comprise s360 (Denmark), VIU (CH), and Webit (Germany), Sage
Marketing Advisors Inc. (the U.S.) and Exerp (Denmark)
- The Company continued the technological development of The
Agillic Customer Marketing Platform. A new user interface (UI) was
launched and apart from innovating the UI, the source code has been
refactored which enables Agillic to more easily leverage cloud
services
- Native integrations to the Google, Facebook and Adform
ecosystems were fully released. This enables clients to activate
their own data in the paid media channels, and the Company expects
this to generate substantial revenue from new as well as existing
clients
- 3rd generation of Agillic’s AI was launched, enabling clients
and partners to more easily leverage the business potential of
AI
- Acquisition of outstanding shares (40%) in Armstrong One
ApS.
Outlook 2020
- Based on Agillic’s performance in 2019 and the current market
trends, we expect an Annual Recurring Revenue (ARR) in 2020 of DKK
61-69 million, which equals an increase of 11-25% compared to 2019
- License part of Annual Recurring Revenue (ARR): DKK 56-62
million, corresponding to an increase of 23-36%
- Transaction part of Annual Recurring Revenue (ARR): DKK 5-7
million, corresponding to a decrease of 27-48% primarily as a
consequence of one substantial subscription agreement expiring
- Revenue is expected to amount to DKK 57-63 million,
corresponding to an increase of 6-17% compared to 2019
- As a result of the increased revenue and a stable cost base, we
expect to increase the EBITDA with DKK 16-21 million and generate a
positive EBITDA of DKK 1-6 million.
Strategy towards 2023 and share issue
Since the Initial Public Offering (IPO) in March 2018, Agillic
has pursued growth and internationalisation. Apart from the
domestic market, markets of particular interest are UK, Norway,
Sweden, Benelux, DACH, Australia and the U.S. Together with
Agillic’s strategic partners across geographies, the Company
continues to target digitally mature and data-driven B2C-businesses
with a substantial customer base within the following sectors:
retail, finance, travel & leisure, NGO & charities and
subscription businesses.
Continued growth combined with profitability is the main
priority in 2020 and going forward. To further accelerate the
growth, Agillic has initiated a process aimed at raising DKK 20-25
million in a share issue to fund growth opportunities. The
fundraising is expected to be completed during H1 2020.
As announced on 31 January 2020, Emre Gürsoy commences as new
CEO to lead and execute Agillic’s next profitable growth phase.
Emre Gürsoy will begin in his new position 1 March 2020. Agillic’s
current CEO, Jesper Valentin Holm, will as per the same date
continue as part of Agillic’s senior management in a position as
Chief Revenue Officer (CRO).
Please find Agillic’s annual report 2019
here:
Agillic annual report 2019
Webcast
Agillic is hosting a webcast 20 February 2020 at 3.00 pm (CET),
where CEO Jesper Valentin and CFO Christian Tange will present the
result for Q4 2019, full-year 2019 and outlook for 2020 as well as
answer questions. Register for the webcast here: Agillic annual
report 2019 webcast
Financial calendar 2020 Annual General Meeting:
24 March 2020Financial results 1st quarter 2020: 30 April
2020Half-year Report 2020: 20 August 2020Financial results 3rd
quarter 2020: 22 October 2020
For further information, please contact: Jesper
Valentin Holm, CEO, Agillic A/S+45 6093 3630
jesper.valentin@agillic.com
Christian Tange, CFO, Agillic A/S+45 2948
8417christian.tange@agillic.com
Certified Adviser Tofte & CompanySasja
Dalgaard, sd@toftecompany.comChristian IX’s Gade 7, 1111 Copenhagen
K
Disclaimer The forward-looking statements
regarding Agillic’s future financial situation involve factors of
uncertainty and risk, which could cause actual developments to
deviate from the expectations indicated. Statements regarding the
future are subject to risks and uncertainties that may result in
considerable deviations from the presented outlook. Furthermore,
some of these expectations are based on assumptions regarding
future events which may prove incorrect. Please also refer to the
overview of risk factors in the ‘risk management’ section of the
annual report.
About Agillic A/S Agillic is a Nordic software
company enabling marketers to maximise the use of data and
translate it into relevant and personalised communication
establishing strong relations between people and brands. Our
customer marketing platform uses AI to enhance the business value
of customer communication. By combining data-driven customer
insights with the ability to execute personalised communication, we
provide our clients with a head start in the battle of winning
markets and customers.
Besides the company headquarter in Copenhagen, Agillic has sales
offices in London (UK), Stockholm (Sweden), Zurich (CH) as well as
a development unit in Kiev, (Ukraine).
For further information, please visit www.agillic.com
Agillic A/S (publ) (Nasdaq First North Copenhagen: AGILC) is
obligated to publish the above information in compliance with the
EU Market Abuse Regulation. The information was published via agent
by Agillic A/S on 20 February 2020.
- Agillic-Company-Announcement-3-2020
- Agillic_Annual Report 2019