Loyal Solutions announces half year results for 1/7-31/12 2022
Danish SaaS company Loyal Solutions delivers 66% ARR growth in the first half of fiscal year 2022/2023
CEO Peter Kisbye comments:
“The financial performance for the first half year is in line with expectations. The growth in our pipeline over the last 9-12 months is beginning to materialize in new contracts, resulting in an ARR growth for the first half year of 66%.
During the first half year we have had additional contracts confirmed with several leading global brands. Bookable revenue is 41% above last year, however due to clients confirming contracts later than initially budgeted, revenue expected for the full financial year falls below budget by an estimated 20,5% to 27.500 MDKK.
We are seeing all our current client programs performing above last year, which is a testament to our technology and to our business model. Our unique user experience for accruing and redeeming rewards globally, really resonates with the real boss – the customer. For the first time, it is just as easy to redeem the rewards a customer has earned as it is to accrue rewards in any program anywhere.
Our LoyalTfacts® technology also enables unique and interesting partnerships for our clients. For example, Etihad Guest, the award-winning loyalty program of Etihad Airways, is now rewarding sustainable choices made by members when shopping. SAS EuroBonus has launched a unique partnership with Foodora in Sweden, the market leading delivery service. In the Nordics, Receipt Hero is using the flexibility of LoyalTfacts® to scale their business and combat wasteful paper receipts. FDM, the Danish Automobile Association, uses LoyalTfacts® to offer members the largest rebates on fuel in the market and Accor ALL is providing guests across 12 countries with unique experiences.
We are very proud and honored to partner with these global and market leading programs. The feedback from both our clients and their ultimate customers confirms our thesis that simplicity works; a simple user experience and simple to use SaaS software are the enablers of unique experiences and a creator of customer loyalty. As always, none of this would be possible without the fantastic team at Loyal Solutions
HIGHLIGHTS FOR THE FIRST HALF YEAR of 2022/23 (1/7-31/12 2022)
Business and operational highlights
During the first half year of 2022/23 the Company reached several milestones, including
- Substantial growth rates in all current client programs
- ARR growth of 66%
- GP growth of 35%
- Total revenue reached 95% of target. Gross profit at 105% of target.
- EBITDA 34% better than budget
- Loyal Solutions has been awarded the contract for Qatar Airways for a new card linking solution in Qatar Privilege Club
- Visa VMLS, using Loyal Solutions technology, was selected by Best Buy, a leading electronics retailer in North America
- Visa VMLS, using Loyal Solutions technology, was selected by Air Canada for their market leading Aeroplan program
- Visa VMLS, using Loyal Solutions technology, have won contracts in Germany and Poland for rollout in March and April 2023
- Loyal Solutions was selected by Emirates to provide card linking solution for Emirates Skywards
- Implementation of a new advanced reporting module in LoyalTfacts®, rolled out on all our customers
- Development of new campaign module and more predictive features for LoyalTfacts® on track for deployment in March 2023
- Appointment of Lago Kapital Ltd. as liquidity provider for the company’s shares listed on Nasdaq First North Growth Market Stockholm
