- WKN: A0LR9G
- ISIN: DE000A0LR9G9
- Land: Deutschland
Nachricht vom 21.09.2021 | 08:00
Exasol AG publishes half-year report 2021
DGAP-News: EXASOL AG
/ Key word(s): Half Year Report/Half Year Results
Exasol AG publishes half-year report 2021
The weaker ARR growth compared to the first quarter of 2021 is due to delays in larger projects. In view of a strong deal pipeline by the end of the year and the generally strong fourth quarter, the Executive Board is confident that the forecast target of more than 45% growth in annual recurring revenue to over EUR 35 million by the end of 2021 will be achieved.
In the first half of 2021, Exasol's EBITDA amounted to EUR -14.6 million (H1 2020: EUR -15.0 million). EBITDA adjusted for one-time effects of expenses for share-based remuneration packages and cost of capital measures amounted to EUR -14.1 million (H1 2020: EUR -1.8 million). The decline in adjusted EBITDA is primarily attributable to the expansion of sales and marketing as well as personnel expenses to accelerate international growth. The operating cash flow adjusted for special items was EUR -11.5 million in the first half of 2021 (H1 2020: EUR -1.7 million). As of 30 June 2021, Exasol had cash and cash equivalents of EUR 46.6 million (31 December 2020: EUR 69.5 million) at its disposal.
"The second quarter was characterized by some project delays and the longer than planned establishment of sales structures in the USA and the UK. This resulted in a lower ARR growth rate than expected. Given that our other strategic initiatives are well underway, we believe, however, that we are well positioned to realize the full potential of our significantly expanded team," said Aaron Auld, Chief Executive Officer of Exasol AG.
The first half of 2021 was moreover characterized by considerable progress in establishing a powerful organization to take advantage of the growth potential offered by the data analytics market. Exasol's team grew by 65 to 288 employees in the first half of 2021. As a result of various initiatives, including the partnership with the German Football Association (DFB), brand awareness has increased significantly. The go-to-market engine has gained significant clout through targeted staff additions and significantly increased efforts in digital marketing.
In the first six months of 2021, Exasol won eleven new customers in the financial services, retail and healthcare sectors from a variety of countries, including the key markets of Germany, the UK and the USA. At the end of the first half of 2021, the company had a total of 202 customers. Exasol also expanded its partner network during the period under review, signing 13 additional partnerships to increase its visibility and global reach.
Exasol's half-year report 2021 is available at ir.exasol.com under Publications.
Exasol was founded in 2000 with the vision to transform how organizations use data. Today, Exasol's analytics database - the fastest in the world - is trusted by the world's most ambitious organizations. With offices in several locations across the US and Europe, Exasol is committed to delivering flexible, scalable and powerful analytics solutions to customers wherever they are, in the cloud or on-premises.
Exasol - accelerating insights from the world's data.
Certain statements in this communication may constitute forward looking statements. Forward-looking statements can be identified by terms such as "believe", "estimate", "expect", "intend", "will", or "should" as well as their negation and similar variants or comparable terminology. Such statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in this communication. Investors should not rely on these forward-looking statements as predictions of future events and we undertake no obligation to update or correct these statements. Our actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic and industry-specific developments, technological changes, technical operations and cyber attacks, as well as changes in competition levels. All stated figures and information related to them are unaudited.
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1234720|
|End of News||DGAP News Service|
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