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Preliminary figures: Exasol provides overview of first half of 2022 and confirms outlook

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DGAP-News: EXASOL AG / Key word(s): Preliminary Results/Half Year Results
Preliminary figures: Exasol provides overview of first half of 2022 and confirms outlook
29.07.2022 / 08:05
The issuer is solely responsible for the content of this announcement.

Preliminary figures: Exasol provides overview of first half of 2022 and confirms outlook

- ARR increase by +26.0% to EUR 32.5 million
- Operating result (adj. EBITDA) improves to EUR -6.0 million in H1 2022 (+78.8% over prior year)
- Total number of customers grows to 224
- Liquid Funds at EUR 19.3 million as of June 30, 2022
- Outlook for 2022 confirmed

Nuremberg, July 29, 2022: Exasol AG (ISIN DE000A0LR9G9), a global technology company and provider of a high-performance analytics database, further expanded its customer base in the first half of 2022. According to preliminary figures, annualized recurring revenues (ARR) increased to EUR 32.5 million. This represents growth of 26.0% compared to the same period in the previous year (June 30, 2021: EUR 25.8 million). A total of 14 new customers were won in the first half of 2022 (H1 2021: 8), including nine alone in the second quarter (Q2 2021: 3). The total number of customers at the end of the first half of 2022 came to 224.

Revenues increased by 22.9% to EUR 16.1 million in the first half of 2022 (H1 2021:  EUR 13.1 million). At the same time, profitability continued to improve. Adjusted EBITDA came in at EUR -6.0 million for the first half of 2022 after a loss of EUR -14.4 million in the same period last year. This is attributable to both increased sales volume and an improved cost structure.

For the second quarter of 2022, the recovery in the operating result was even more evident. While sales increased by 21.7% to EUR 8.4 million (Q2 2021: EUR 6.9 million), adj. EBITDA improved from EUR -10.4 million in Q2 2021 to EUR -2.2 million in Q2 2022. This is mainly due to a more efficient use of available funds, which also improved compared to the already positive start to the year (adj. EBITDA Q1 2022: EUR -3.8 million).

Liquid funds stood at EUR 19.3 million as of June 30, 2022. Compared to year-end 2021, this corresponds to a cash outflow of EUR 7.9 million in the first half of 2022, which includes one-off payments to employees arising from claims in connection with the IPO 2020 to the amount of EUR 2.7 million for the full year 2022.

"Despite the current difficult geopolitical environment, we were able to further expand our customer base and win numerous new international companies in the first half of the year. Equally, we are pleased to demonstrate further growth with our existing customers," said Aaron Auld, CEO of Exasol. "Our efforts to make Exasol significantly more profitable also continue to bear fruit. As a result, we remain on track to achieve our annual targets for ARR, profitability and liquidity."

Outlook 2022

For the fiscal year 2022, management continues to expect an increase in annual recurring revenues (ARR) to between EUR 38.5 million and EUR 40.0 million. At the same time, adjusted operating profit (adj. EBITDA) is expected to improve to between EUR -14 million and EUR -16 million (adj. EBITDA 2021: EUR -30.9 million). With cash and cash equivalents at year-end 2022 of between EUR 10 million and EUR 12 million, management continues to see sufficient financial headroom to achieve the medium-term growth targets.

The full report for the first half of 2022 will be published on August 17, 2022.

Preliminary Key Figures:

(in EUR million)

Q2 2022

Q2 2021

Change

H1 2022

H1 2021

Change

ARR (as of June 30)

32.5

25.8

+26.0%

32.5

25.8

+26.0%

Revenue

8.4

6.9

+21.7%

16.1

13.1

+22.9%

Adj. EBITDA*

-2.2

-10.4

+78.8%

-6.0

-14.4

+58.3%

 

 

 

 

 

 

 

 

30.6.2022

31.12.2021

Change

 

 

 

Liquid Funds

19.3

27.2

-29.0%

 

 

 

* EBITDA is adjusted for expenses from stock appreciation rights granted to the Executive Board and employees prior to the IPO in 2020.

IR Contact
Christoph Marx
Head of Investor Relations
Tel: +49 911 2399 114
E-Mail: ir@exasol.com


29.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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:

1408687


 

End of News

DGAP News Service

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