- Oops!Something went wrong.Please try again later.
DGAP-News: EXASOL AG / Key word(s): Quarterly / Interim Statement/9 Month figures
Exasol AG trading update for the first nine months of 2021
At the end of September 2021, the total Annual Recurring Revenue ("ARR"), Exasol's key financial performance indicator, stood at EUR 28.2 million (preliminary and unaudited), an increase of 31% compared to the end of September 2020 (ARR of EUR 21.5 million). The main drivers were the increase in upsell with existing customers (app. EUR 5 million) and revenue from new customers in DACH (app. EUR 2.3 million). Downselling and customer churn remained at low levels (app. EUR 0.3 million each).
During the first nine months of 2021, Exasol signed 33 new customers, including several large corporations in key verticals like financial services, energy and transport & logistics. Total customer base was at 207 by the end of Q3 2021. Regarding regional break-down, the DACH region demonstrated consistent strong momentum. However, customer acquisition in the UK and US markets was behind expectations.
Exasol adjusted its FY 2021 outlook, and now 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. The adjustment was driven by delays in several large customer projects and the overall weaker than expected growth momentum in US and UK. Concurrently with this lower growth momentum in 2021, the company adjusted its mid-term outlook, now projecting to reach EUR 100 million ARR by 2025 instead of 2024.
"In 2021, Exasol went through the deepest transformation in company history. We have moved fast, but also faced our own challenges in a dynamic market environment, resulting in a slower than planned customer acquisition rate in the UK and US. We have now made the necessary changes to overcome these challenges. We are confident that following the adjustments and improvements we have made, we will be successful in fully exploiting the huge market opportunity before us with new focus," says Aaron Auld, CEO of Exasol.
Increased transparency and cadence in investor dialogue
Exasol Press contact
Certain statements in this communication may constitute forward looking statements. Forward-looking statements can be identified by terms such as "believe", "estimate", "expect", "intend", "will", or "should" as well as their negation and similar variants or comparable terminology. Such statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in this communication. Investors should not rely on these forward-looking statements as predictions of future events and we undertake no obligation to update or correct these statements. Our actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic and industry-specific developments, technological changes, technical operations and cyber attacks, as well as changes in competition levels. All stated figures and information related to them are unaudited.
04.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
End of News
DGAP News Service