UK Markets close in 1 hr 42 mins

Exasol AG adjusts annual forecast for the 2021 financial year and medium-term forecast

  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

EXASOL AG / Key word(s): Change in Forecast
Exasol AG adjusts annual forecast for the 2021 financial year and medium-term forecast

29-Oct-2021 / 13:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Exasol AG adjusts annual forecast for the 2021 financial year and medium-term forecast

Nuremberg, October 29, 2021 - Based on today's assessment, the Management Board of Exasol AG expects that a key financial performance indicator, annual recurring revenues (ARR), will be weaker in the 2021 financial year than previously forecast and is adjusting its annual forecast for 2021 and the medium-term forecast. Based on current knowledge, the Management Board expects annual recurring revenues to be in a range between EUR 30 - 31 million (equivalent to +24% to +29% year-on-year) at the end of fiscal year 2021. As a result, there is also a change in the medium-term forecast. The Management Board expects annual recurring revenues of EUR 100 million to be achieved in the course of the 2025 financial year. Originally, Exasol had forecast ARR growth to more than EUR 35 million or more than 45% year-on-year in fiscal 2021 and annual recurring revenues of EUR 100 million during fiscal 2024.

A comprehensive review of the current sales pipeline and marketing activities has shown that, contrary to management expectations, the project postponements on the customer side occasionally observed will continue until the end of the year. As a result, from today's perspective, some of the contracts expected for the current fiscal year can no longer be realized in 2021. In addition, the review has shown that the current go-to-market activities have not been able to generate the previously expected growth momentum in the acquisition of new customers.

In the third quarter of 2021, Exasol increased its annual recurring revenue (ARR) to approximately EUR 28.2 million, according to preliminary figures that have not yet been confirmed. The publication of the 9M/2021 financial results will take place as planned on November 4, 2021. The Management Board will hold a conference call for analysts and investors at 9:30 CET on that day and provide more detailed information on the outlook and the measures taken.


IR Contact:
Stefanie Winkler
Investor Relations Assistant
Phone: +49 (0)9112399114
Email: ir@exasol.com

 

29-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

EXASOL AG

Neumeyerstraße 22-26

90411 Nuremberg

Germany

Internet:

www.exasol.com

ISIN:

DE000A0LR9G9

WKN:

A0LR9G

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1244807


 

End of Announcement

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting