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Konsolidator realizes growth in Annual Recurring Revenue of 76 % - the 7th consecutive quarter with growth higher than 70%

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gCompany announcement no 9-2021

Søborg, July 28, 2021

Konsolidator realizes growth in Annual Recurring Revenue of 76 % - the 7th consecutive quarter with growth higher than 70%

Financial report for the period January 1 to June 30, 2021


In the outlook for 2021 in the annual report 2020, one main goal was announced: An Annual Recurring Revenue increase of 70-90% on a year-on-year basis, equaling DKK 13.5-15 million at the end of the year.


  • Annual Recurring Revenue (ARR) amounts to DKK 10.7m on June 30, 2021, an increase of 76 % compared to June 30, 2020, and an increase of 16% since March 31, 2021.

  • Consolidated revenue for the first six month amounted to DKK 5.3m compared to DKK 3.1m for the same period in 2020.

  • Contribution margin of 95.1% compared to 97.1% in 2020.

  • Consolidated EBITDA amounted to DKK –12.4m compared to 2020 of DKK -6.8m.

  • The total equity amounted to DKK 13.9m on June 30, 2021, compared to DKK 33.7m the year before.

  • Total cash and cash equivalents amounted to DKK 6.8m on June 30, 2021, compared to DKK 27.9m on June 30, 2020.

  • On July 21, Konsolidator signed a convertible loan agreement, where Konsolidator receives net proceeds of DKK 23.6m. See company announcement no 8.

Roll out of Konsolidator’s platform and software

  • Growth remains strong in the Nordics where Konsolidator has signed 19 customers in Q2.

  • Konsolidator’s focus for UKI (UK & Ireland) is still to continue to build a strong pipeline. Konsolidator has signed 2 customers in Q2.

  • DACH remains challenged as it has been difficult to find the right sales representative. The pipeline is growing and the strategy for the DACH market remains unchanged.

  • Konsolidator is concentrating on building brand awareness and pipeline for Konsolidator Audit® and the strategy is to hire a sales representative as soon as possible. Currently, Konsolidator is engaged in some interesting projects.

  • Konsolidator signed in total 25 new customers in Q2 compared with 17 new customers for Q2 2020.

  • Konsolidator has 181 customers on June 30, 2021, in 15 different countries.

Organizational growth

  • Konsolidator has 37 employees as per June 30, 2021 as compared to 21 employees the year before.

  • In May, Konsolidator issued 270,000 warrants to all employees of the company.


  • Continuing the exponential growth in ARR in 2021 on a year-on-year basis and thus the expectation is still an increase in ARR between 70 and 90 % in 2021, equaling an ARR between DKK 13.5m and DKK 15.0m.

About Konsolidator

Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making.

For further information: CEO Claus Finderup Grove, mobile. +45 2095 2988, e-mail:

Konsolidator A/S
Vandtårnsvej 38A
2860 Søborg

Certified Adviser
Grant Thornton
Stockholmsgade 45
2100 Copenhagen


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