DecideAct Half-year Report 2021: On track with development, financial goals and strategy
Today DecideAct´s board has approved the company’s Half-year Report for 2021. By 30 June 2021 DecideAct has reached 58% of the sales target for 2021 and continues to add new customers while creating the organizational foundation to accumulate future growth.
DecideAct A/S [ACT]
Company Announcement No. 20-2021:
About DecideAct A/S [ACT]
Half-year result is as expected
The company’s result of DKK -7.7 million for the first half of 2021 is as expected, influenced significantly by investments in further product development, marketing, sales, and our customer success management. We have reached an ARR of DKK 5.55 million, consolidated for the group on 30 June 2021, the company’s equity amounts to DKK 15.7 million, and intangible assets are DKK 11.9 million.
Strong cash reserve of DKK 28,8 million
Consolidated cash reserve after six months for DecideAct A/S and DecideAct Solutions is DKK 8 million. Including a private placement of DKK 14.8 million in July 2021 and a loan from Vækstfonden of DKK 6 million in August 2021 this amounts to a new cash reserve for investments of DKK 28.8 million.
Metrics (Consolidated for the group on 30 June 2021)
- ARR: DKK 5.55 million
- ARR BY 27 AUGUST: DKK 5.9 million (including contracts signed after the Balance Sheet closing date)
- TOTAL CASH RESERVE/LIQUIDITY: DKK 8 million
- TOTAL CASH RESERVE BY 27 AUGUST: DKK 28.8 million (including DKK 20.8 million added after the Balance Sheet closing date)
- PROFIT/LOSS AFTER TAX: DKK -7.7 million
- CHURN: 0
- EQUITY: DKK 15.7 million
- INVESTMENTS: DKK 2.2 million
- INTANGIBLE ASSETS: DKK 11.9 million
Focus on growing sales
Our absolute focus is to grow our sales—and we support this by strengthening our brand, developing our products, and expanding our sales force internationally. Based on the results for the first six months, it can be concluded that DecideAct is on track for future growth, with an increasing customer base, a churn rate of zero and sufficient liquidity to support the company’s ambitions. With the contracts we have already closed and the prospects in the pipeline, we see positive and healthy development. This gives us confidence that we are on track to deliver our estimated ARR target by end of December 2021.
Constantly developing the platform
Tech and product development are doing well, and our platform is getting stronger week by week in terms of features, ease of use and results for customers. In the first half of 2021, DecideAct invested DKK 2.2 million in further platform development.
Branding, marketing, and customer success
We have worked hard to build a strong setup for our brand and marketing initiatives, and it is already starting to pay off. Our efforts to improve onboarding and customer success are showing good results.
Infrastructure in place
Since the IPO in December 2020, we have established the infrastructure and means to deliver on our strategic goals. Among other things, we have achieved an ARR at DKK 5.9 million by 27 August, proving that sales and marketing efforts have kicked in, a constantly growing pipeline with a sales team in place, and entered new industries and new countries.
Investing to accelerate growth
Over the next 24 months DecideAct will invest DKK 15 million on activities that accelerate growth, emphasizing five focus areas:
- Strengthen sales by establishing an inside sales team in addition to the current field sales activities
- Establish a Center of Excellence for Customer Success and Strategy Execution Management (SEM)
- Grow lead generation significantly through marketing automation
- Develop and test online sales conversion and automated onboarding
- Strengthen the commercial position by speeding up development
The current efforts to realize the vision of becoming a dominant player in the SEM category will thus be supported by additional growth activities that will significantly increase the probability of realizing DecideAct’s growth target.
Entering new industries and countries
During the first half of 2021, DecideAct signed contracts with several new customers. By entering new industries and countries, we have proven that DecideAct is relevant to all companies and organizations, public or private, in all industries, geographies, and functional roles.
The full half-year report is attached to this announcement as a pdf and can also be downloaded from the company’s investor site here: https://www.decideact.net/download/337365/