MapsIndoors delivers growth of 87% resulting in a total ARR growth of 55%
MapsPeople A/S | Quarterly report Q1 2022
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Company Announcement No. 7 - 2022
Aalborg, May 17th 2022
Highlights
- Total Annual Recurring Revenue (ARR) reached DKK 45.4M at the end of Q1 2022 which is 55% higher than DKK 29.3M at the end of Q1 2021.
- The total growth in ARR is driven by growth from MapsIndoors reaching DKK 33.5M at the end of Q1 2022 which is 87% higher than DKK 18.0M at the end of Q1 2021.
- MapsPeople increased the MapsIndoors ARR with a total of DKK 4.2M in Q1 2022 compared to end 2021.
- 55% of MapsIndoors new ARR in Q1 2022 is partner based.
- ARR guidance has not changed and is still expected in the range of DKK 75-85M for 2022.
Management commentary
The quarter delivered a growth in ARR of DKK 4,3m, resulting in a 55% YoY growth in ARR . MapsIndoors delivered 87% growth YoY and a majority of this growth came from partners.
Continued from 2021 a systematic lead generation towards strategic industries and regions has resulted in an increasing pipeline, with a high weight on partner based business.
In Q1 2022 the organization has increased from 74 to 89 FTEs, primarily within sales & marketing and the focus in line with the strategy is on market development, sales channels, products and technology.
Events after Q1 2022
No events affecting the period have occurred after the end of Q1 2022.
CONTACT INFORMATION
MapsPeople A/S
Michael Gram, CEO
Mobile (+45) 53 74 09 00
Email [email protected]
Stigsborgvej 60, 9400 Nørresundby
Certified Advisor
Grant Thornton
Jesper Skaarup Vestergaard
Mobile (+45) 31 79 90 00
Grant Thornton Stockholmsgade 45 2100 Copenhagen Ø Denmark
Source: MapsPeople