Q1 Interim Report 1 January – 31 March 2024
Risk Intelligence A/S (“Risk Intelligence” or "Company") hereby publishes the Q1 Interim Report for the period January - March 2024. The report is available on the Company's investor website (investor.riskintelligence.eu).
Highlights:
- Total revenue up by 16%
- Total invoiced revenue up by 27%
- System recurring revenue (ARR) up by 28%
- Gross Margin (SaaS) 94.1% compared to Gross Margin (Reported) 56%
- Churn 0%
- Net Retention Rate 125%
- Costs have increased by 3%
- EBITDA 2024 increased by 41%
- Net profit in 2024 increased by 27%
- Cash Flow from ordinary activities and Net Cash Flow positive
- 4 new maritime and 1 LandRisk clients signed during Q1 2024
Reporting period January 2024 – March 2024
DKK ‘000 (2023)
|
5,953 |
(5,123) |
+16% |
|
|
5,949 |
(4,689) |
+27% |
|
|
56% |
(54%) |
+3% |
|
|
94.1% |
(95.6%) |
-1% |
|
|
6,865 |
(6,682) |
+3% |
|
|
-912 |
(-1,559) |
+41% |
|
|
-2,315 |
(-3,192) |
+27% |
|
|
-1,806 |
(-2,468) |
+27% |
|
|
987 |
(-1,987) |
+150% |
|
|
528 |
(-35) |
+529% |
|
|
-0.07 |
(-0.22) |
+69% |
|
Metrics Q1 2024:
DKK ‘000 (2023)
|
100% |
(95.9%) |
|
0% |
(4.1%) |
|
22,051 |
(17,340) |
|
4,711 |
(N/A) |
|
27% |
(N/A) |
|
20,781 |
(16,259) |
|
4,522 |
(N/A) |
|
28% |
(N/A) |
|
125% |
(105%) |
|
|
|
|
Guidance 2024 (unchanged):
- ARR Growth: 15 - 30%
- System ARR: 22.4M – 25.3M DKK
- EBITDA: Around 0
- Net result: Negative
- Net cash-flow: Positive
CEO Hans Tino Hansen
"It is a pleasure to present a quarterly report for Q1 consisting of some notable positive steps following our 2025 Strategy.
In line with our forecast for 2024, we have delivered 28% growth on Risk Intelligence System ARR and 27% on total ARR, while churn again this quarter has been 0%.
We have managed to deliver 27% growth in top line i.e. invoiced revenue, while costs have only increased by 3%. For the reported revenue we have seen a growth of 16%, which provides the basis for improved EBITDA by 41% and EBT and net result by 27%.
The cash-flow during the quarter has also been positive with a cash flow from ordinary activities (before interests) of 1.6M DKK and a net cash flow of 528K DKK. Finally, total debt has been reduced by 1.5M DKK during the period.
The driver behind the growth in revenue is a combination of the launch of the new platform end-2023 and the impact it provides on revenue from existing clients with new pricing and additional features and third-party data selected by the clients. This is what constitutes the strong NRR of 125% (which is only based on System revenues) during Q1. In addition, after the launch of the new version, we have also had a significant increase in the pipeline of potential clients and have secured four maritime and one LandRisk client during the quarter. Finally, there has been growth in our Advisory Services with new clients and more projects.
For the rest of the year the growth will be derived from the same basis as existing clients will be renewing at their renewal dates with potential selection of additional features and third-party data and new clients will be secured for all business areas.
The global geopolitical situation has unfortunately not improved since the beginning of the year and at the same time this impacts positively on the demand for our services. As a consequence, we have witnessed a significant increase in requests in all business areas and have also delivered projects related to infrastructure security and defence.
We are committed to continue developing our relationships with our clients to help them protect their people and their assets, while at the same time improving our financial results. I believe 2024 will become a prime example of how these two aspirations will become one. "
Video presentation:
Live presentation 22 May 16.00 at Stokk.io, please subscribe on Stokk.io Live presentation
For more information on services and the System:
Please watch our corporate video: Knowing Risk
