13 Nov 2020
/ Key word(s): 9 Month figures/9 Month figures
Exasol AG trading update for Q3 2020: continued solid Annual Recurring Revenue growth
Nuremberg, Germany, 13 November 2020 - Exasol AG (ISIN DE000A0LR9G9; www.exasol.com), a global technology company providing a high-performance analytics database, gives an update on its unaudited revenue performance in the first nine months of 2020.
Exasol's key financial indicator Annual Recurring Revenue grew by 35.2% to EUR 21.5 million in the first nine months of 2020 (9M 2019: EUR 15.9 million). Group revenues stood at EUR 17.8 million (9M 2019: EUR 15.9 million), an increase of 12.0% compared to the same period the year before.
In the third quarter of 2020, Exasol achieved an increase in Group revenues of 57.1% to EUR 7.7 million (3Q 2019: EUR 4.9 million). The strong revenue growth in the third quarter of 2020 is partially related to a higher share of non-recurring license agreements in 3Q 2020 compared to the respective period the year before.
"Since our IPO in May, the company has continued to deliver strong performance. The results for the third quarter of 2020 are positive, and I'm pleased with the trajectory of the company. We're on the right path and I believe we will fully deliver on our growth plan for the year," says Michael Konrad, CFO of Exasol.
During the first nine months of 2020, Exasol gained 20 new customers across various verticals and regions, including two large insurance companies headquartered in Europe, four e-commerce companies, and two enterprises in the utilities sector.
After the successful IPO in late May 2020, Exasol has been focused on executing its growth strategy. In the third quarter of 2020, Exasol continued with its hiring strategy as part of the plan to drive growth in key markets, increasing the number of employees to a total of 181 at the end of September 2020 compared to 154 as of 30 June 2020. The majority of the new roles are in the key revenue driving areas of Sales and Marketing.
The management confirms its outlook for 2020 and expects to reach an Annual Recurring Revenue (ARR) of more than EUR 24 million by the end of 2020, implying an ARR growth of more than 36% on the comparable prior-year figure. Furthermore, Exasol intends to accelerate ARR growth in 2021 by increasing revenue from existing customers, continuing regional expansion especially in the U.S. and increasing its market share in the DACH and the U.K. markets.
Exasol Press contact
13.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.