Relesys A/S | Quarterly Announcement Q1 2023
Company Announcement No. 6-2023 Copenhagen,
May 11, 2023
First-quarter period: January 1, 2023 - March 31, 2023
Relesys achieved an Annual Recurring Revenue (ARR) of DKKm 49.4 and is starting the year in accordance with the plan.
Current financial guidance remains unchanged.
Relesys started 2023 by executing the financial expectations presented in the Annual Report 2022. During Q1, Relesys signed with NorgesGruppen who have +40% of the Norwegian grocery market.
- ARR increased from DKKm 33.8 in Q1 2022 to DKKm 49.4 in Q1 2023, corresponding to 46% year-on-year growth.
- NRR was 117% year-on-year.
- ARR net uplift was 22% year-on-year.
- ARR churn was 4% year-on-year.
- ARR from new clients increased by DKKm 2.5 during the period.
- Revenue grew from DKKm 10.0 in Q1 2022 to DKKm 12.8 in Q1 2023, corresponding to 28% year-on-year growth.
- The cash balance at the end of Q1 was DKKm 28.2. Free Cash Flow Multiple last 12 months was -1,5. The cash balance of DKKm 28.2 is considered to be sufficient to take Relesys to positive cash flow.
Financial Guidance 2023:
For 2023, Relesys expects continued growth in both ARR and Revenue. ARR guidance for 2023 is DKKm 59-64 and Revenue guidance for 2023 is DKKm 54-60. Guidance remains unchanged compared to what was presented in the annual report 2022.
 Free Cash Flow Multiple is defined as: Free Cash Flow divided by ARR growth.
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