- Annual recurring revenue (ARR) growth of +26% to 50,3 MSEK.
- Recurring revenue amounts to 12,3 MSEK compared to 9,2 MSEK last year (+33%).
- EBIT improvement year-on-year of 2,3 MSEK, reaching -0,6 MSEK.
- Bottom-line result at -4% of net sales compared to -31% one year ago.
- Quarterly churn at 0,5%
- Yearly NRR at 113%
Classics
First nine months (2023-01-01 to 2023-09-30)
- Net revenue amounted to 34 182 (26 242) TSEK (+30%).
- Loss after financials amounted to -4 639 (-11 816) TSEK.
-
Loss per share before dilution amounted to -0,12
(-0,39) SEK . -
Loss per share after dilution amounted to -0,11
(-0,37) SEK .
Third quarter (2023-07-01 to 2023-09-30)
- Net revenue amounted to 12 438 (9 229) TSEK (+35%).
- Loss after financials amounted to -550 (-2 859) TSEK.
-
Loss per share before dilution amounted to -0,01
(-0,09) SEK . -
Loss per share after dilution amounted to -0,01
(-0,09) SEK .
SaaS Traction
Third quarter (2023-07-01 to 2023-09-30)
- Annual recurring revenue (ARR) at the end of Q3 2023 reached 50 332 (40 085) TSEK, a year-on-year increase of +26%.
- Recurring revenue increased +33% to 12 262 (9 218) TSEK, which represents 99% (100%) of the quarterly revenue.
- Churn for the quarter was 0,5%.
- Net revenue retention (NRR) was 113%.
Message from the CEO
"On the edge of turning the profit corner"
Financial performance and progress toward profitability
The third quarter was a typical "summer quarter". The number of opportunities was promising but didn't materialize to the extent we wanted, bringing the Annual Recurring Revenue (ARR) to 50,3 MSEK, an increase of +26% year-on-year. Due to a higher order intake in Q2, sales increased by 35% from Q3 last year, reaching 12,4 MSEK. The Net Revenue Retention (NRR) was 113%, of which quarterly churn was a mere 0,5 %. A very healthy number.
Continuous improvement in the gross margin combined with strict expense control helped us to get close to our short-term target of reaching profitability.
The partner base brought in 100 % of new ARR. The importance of continuing to work on our partner positioning is evident and will help us to continue to grow while maintaining our current cost structure.
Management team transitions
Last quarter, two key members of our management team, the CRO and the CFO, successfully transitioned to exciting opportunities in other tech companies. We commend their achievements in securing new, demanding roles in the industry. Having 2 members of the management team leaving could stress any CEO out, but with a great team effort, we pulled through. A new CRO,
In addition, we are excited to announce the appointment of our new CFO,
Scaling for Success: Navigating Complexity in Onboarding Projects
From spring up until now,
Now it's time for the last sprint of the year, where the objectives are crystal clear. Focus on costs, reach profitability, successfully onboard the new team members, and close deals.
For the full report: https://investor.safeture.com/arsredovisningar-och-rapporter/
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