EQS-News: Exasol announces preliminary figures for the first quarter 2024: Positive operating result for the first time since IPO - net cash flow more than doubled
EQS-News: EXASOL AG
/ Key word(s): Preliminary Results/Quarter Results
Exasol announces preliminary figures for the first quarter 2024: Positive operating result for the first time since IPO - net cash flow more than doubled - ARR grows by 16.0 % to EUR 40.7 million (March 31, 2023: EUR 35.0 million, like-for-like) Nuremberg, April 18, 2024: Exasol AG, a global technology company and provider of a high-performance analytics database, made a good start to the new year and turned profitable in the first quarter of 2024 for the first time since its IPO in May 2020. Thanks to a further increase in group revenue and a simultaneous reduction in the cost structure, earnings before interest, taxes, depreciation and amortization (EBITDA) increased to EUR 0.3 million according to preliminary figures, compared to a loss of EUR -2.2 million in the same quarter of the previous year. This means that Exasol's operating performance has already improved significantly at the start of the year, which will lead to a positive operating result overall in 2024. Group revenue rose to EUR 9.9 million in the first quarter of 2024, up 12,5 % on the same period of the previous year (Q1 2023: EUR 8.8 million). At the same time, annualized recurring revenue (ARR) increased by 16.0 % to EUR 40.7 million as at the balance sheet date (March 31, 2023: EUR 35.0 million, like-for-like). In the first quarter, the company was thus able to successfully counteract the higher churn expected for the first half of the year thanks to strong customer demand. Customers from the financial sector continued to make a particular contribution here. Cash and cash equivalents amounted to EUR 20.7 million at the end of the first quarter (December 31, 2023: EUR 13.3 million). Exasol thus recorded a positive net cash flow of EUR 7.4 million in the first three months, which more than doubled compared to the same period of the previous year (Q1 2023: EUR 2.9 million, like-for-like). This is due to the traditionally high level of incoming payments from customers with fixed-term contracts at the beginning of the year, which increased significantly in the reporting period due to the strong fourth quarter of 2023. "Achieving profitability is a very important milestone in the realignment of Exasol over the past two years. We want to build on this in the coming quarters and continue to grow profitably as revenue increases," explains Jörg Tewes, CEO of Exasol. "The strategic initiatives we launched last year will contribute to a positive ARR development in the second half of this year. Together with the improved profitability, we remain optimistic for this year." Outlook for the 2024 financial year confirmed The full figures for the first quarter of 2024 will be published on May 7, 2024. Investor Relations Contact Christoph Marx
18.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
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: | 1883761 |
End of News | EQS News Service |
|
1883761 18.04.2024 CET/CEST
Exasol AG Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Exasol AG stock is not clear.
With a target price of 40 € there is potential for a 1639.13% increase which would mean more than doubling the current price of 2.3 € for Exasol AG.