Loyal Solutions announces half year results for 1/1-30/06 2022
Danish SaaS company Loyal Solutions delivers 31% ARR growth in first full year as a listed company
CEO Peter Kisbye comments:
“The period 1 July 2021 – 30 June 2022 (“the Period”) was the first full year post our IPO (“Initial Public Offering”) on Nasdaq First North Growth Market Stockholm 3 June 2021.
In our first full year as a listed company, the Company delivered close to the budgeted results, with a:
- Growth in annual recurring revenue (ARR) of 31%
- Top line revenue reaching 94% of budget.
- EBITDA of TDKK -14,5 vs a forecasted EBITDA of -19,5 and a prospectus estimated EBITDA of TDKK -24,5.
During the Period the Company signed a long-term global agreement with Visa Inc. as well as a regional agreement with Mastercard Nordics, both important foundations for our future growth. The Company’s pipeline grew at the expected pace. In the latter part of the Period, the Company did experience a degree of hesitancy in making decisions with pipeline clients and in the general market. As a consequence, the market approach was adjusted to accommodate this.
Our current clients’ programs have all performed better than expected during the Period, further validating the resilience of our SaaS business model, and proving the inherent long term growth potential in SaaS card linked loyalty programs. While at different stages of maturity, all current programs achieved a better-than-expected growth rate year-on-year, and with several clients now expanding to other countries post covid-19, we have a firm client base on which to build future growth.
Our most important resource, our employees, continues to do an outstanding job, including our new IT Development colleagues in Johannesburg. Despite being quite busy we have maintained our focus on work-life balance and on providing flexible working hours and locations. We truly believe in putting employees first and that “team is everything”, so a big thank you to everyone at Loyal Solutions for the results delivered during this first full year as a listed company. “
HIGHLIGHTS FOR THE SECOND HALF YEAR 1/1-30/6 2022
Business and operational highlights
During the second half of financial year 2021/22 the Company reached several milestones, including
- Very positive development in all client programs
- New IT-hub in Johannesburg, South Africa
- New larger offices in Copenhagen
- Aral – Visa project in Germany launched in June
- Partial payments with points introduced in Darna rewards by Aldar
- Developed several new modules for LoyalTfacts®, making program management ever easier for clients
- Passed our annual PCI DSS Level 1 audit
- Per Kogut joined the Board, bringing 20+ years of IT experienced as CEO in Computer Associates and NNIT
- Subscription period Warrants series TO1 ended with none being exercised
- Account-to-Account payment modules developed and introduced at first client
- Loyal Solutions first in market with “Pay with Points” with Mastercard in the Middle East
Conference call to present second half of financial year 2021/22
Loyal Solutions will present its second half year report 2021/22 results in a brief live webcast through MS Teams on 31 August 2022, at 10.00-10.30 CET.
Please join and ask questions directly to our CEO, Peter Kisbye, and CFO, Pernille Normand Farup-Hansen, at this investor event.
To participate, please join the conference call on this LINK
The audited annual report will be made public on our website under “reports and presentations” on the 15 September 2022 at 08.00 CET.
The Annual General Meeting will be held on 3 October 2022 at 13.00 CET at the Company headquarters in Copenhagen
