• WKN: A0LR9G
  • ISIN: DE000A0LR9G9
  • Land: Deutschland

Nachricht vom 18.05.2022 | 08:37

Exasol publishes audited consolidated financial statements 2021 and results for Q1 2022

DGAP-News: EXASOL AG / Key word(s): Annual Results/Quarter Results
Exasol publishes audited consolidated financial statements 2021 and results for Q1 2022
18.05.2022 / 08:37
The issuer is solely responsible for the content of this announcement.

Exasol publishes audited consolidated financial statements 2021 and results for Q1 2022

- ARR 2021 as preliminarily reported at €30.5 million (+29.8% above prior year)
- Preliminary Q1 2022 results also confirmed: ARR +28.5% vs. Q1 2021
- Operating result (adj. EBITDA) improves to -3.8 million euros in Q1 2022 (Q1 2021: -4.5 million euros)
- Cash and cash equivalents at 26.6 million euros as of 31.3.2022 (31.12.2021: 27.2 million euros)
- Outlook for 2022 unchanged

Nuremberg, May 18, 2022: Exasol AG(ISIN DE000A0LR9G9), a global technology company and provider of a high-performance analytics database, today published its audited consolidated financial statements for 2021, essentially confirming the preliminary results published in February 2022. Accordingly, the company increased its annual recurring revenue (ARR) by 29.8% to €30.5 million (2020: €23.5 million), as preliminarily reported. In the same period, revenues increased by 16.5% to €27.5 million (2020: €23.6 million) with adjusted earnings before interest, taxes, depreciation and amortization (adj. EBITDA) of -€31.6 million (2020: -€8.7 million). Compared to the preliminary figures, there was a slight adjustment of -0.7 million euros here, mainly due to additional provisions in personnel expenses.

At the same time, the company presented the final figures for the first quarter of 2022. According to these, annual recurring revenues increased to €31.5 million, following a figure of €24.5 million in the previous year. This corresponds to an increase of 28.5% and confirms the preliminary figures for the first quarter of 2022 already presented at the end of April 2022. Sales in the first quarter of 2022 also showed a similarly dynamic development, rising by 25.2% to 7.7 million euros (Q1 2021: 6.1 million euros). Adj. EBITDA improved to -3.8 million euros in the same period (Q1 2021: -4.5 million euros), showing the success of the measures implemented in the fourth quarter of 2021 to increase efficiency in the cost structure. The progress is even clearer in comparison with the fourth quarter of 2021: Compared with the previous quarter, in which adj. EBITDA of -8.6 million euros was reported, the loss was reduced by more than half.

"Today's results confirm both our continued growth trajectory on the revenue side and the sustained and significant improvement in our profitability," said Aaron Auld, CEO of Exasol. "Despite the current uncertain geopolitical environment, our market remains highly dynamic and we believe we are well on track to translate these market opportunities into further growth."

Cash and cash equivalents remained largely stable at €26.6 million at the end of Q1 2022 compared to year-end 2021 (Dec. 31, 2021: €27.2 million). Exasol employed 225 people worldwide as of March 31, 2022 (Dec. 31, 2021: 247).

For the financial year 2022, management continues to expect an increase in annual recurring revenues (ARR) to between €38.5 million and €40.0 million. At the same time, the adjusted operating result (adj. EBITDA) is expected to improve to -14 to -16 million euros. Expectations for the level of cash and cash equivalents are also unchanged: At the end of the year, management is forecasting a figure of between 10 and 12 million euros here. The medium-term target of achieving an ARR of 100 million euros in the course of fiscal 2025 is also confirmed.

Key Data for Q1 2022

(in m€) Q1 2022 Q1 2021 Veränderung
ARR (as of 31.3.) 31.5 24.5 +28.5%
Revenue 7.7 6.1 +25.2%
Adj. EBITDA* -3.8 -4.5 +15%
  31.3.2022 31.12.2021  
Liquid Assets 26.6 27.2 -2.2%

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

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

18.05.2022 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.

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