Exasol confirms preliminary quarterly figures, ARR increases by 10% to EUR 37.0 million, profitability significantly improved

Exasol confirms preliminary quarterly figures, ARR increases by 10% to EUR 37.0 million, profitability significantly improved

- ARR increases by +10.4% to EUR 37.0 million as of September 30, 2023 (previous year: EUR 33.5 million)
- Revenue increases by 6.0% to 26.3 million euros in the current year (9M 2022: 24.8 million euros)
- Adjusted EBITDA of EUR -4.1 million significantly improved compared to same period of the previous year (9M 2022: EUR -8.7 million)
- Cash and cash equivalents of EUR 14.7 million as of September 30, 2023
- Forecast 2023 adjusted on October 30

Nuremberg, November 14, 2023: Exasol AG, a global technology company and provider of a high-performance analytics database, has published its quarterly figures for the third quarter of 2023, confirming the preliminary figures from end of October 2023. Annualized recurring revenue (ARR) increased by 10.4% to EUR 37.0 million (30.09.2022: EUR 33.5 million). Some major customer projects totaling EUR 1.3 million, which were originally expected to be completed in September, slipped into the fourth quarter but were completed in October.

Group revenue increased by 6.0% to EUR 26.3 million in the period from January to September 2023 (9M 2022: EUR 24.8 million). Together with a further improvement in the cost structure, the adjusted operating result (adj. EBITDA) rose to EUR -4.1 million, compared to EUR -8.7 million in the same period of the previous year. This corresponds to an improvement of 52.9%. The improvement at quarterly level was even more pronounced: The operating loss in the third quarter of 2023 fell to EUR -0.7 million, compared to a negative operating result of EUR -2.7 million in the same quarter of the previous year. This corresponds to an improvement of 73%.

"We have made great progress this year, particularly in terms of our profitability. This especially applies to the third quarter. A near-term break-even early next year is our clear goal. However, new customer acquisition after nine months has fallen short of our expectations," explains Jörg Tewes, CEO of Exasol. "We have initiated many forward-looking measures that will pay off in the coming quarters. We have made good progress in recent months and now offer our customers, among other new features, an easy way to combine data analysis with artificial intelligence."

The increase in profitability visible in the operating result is also reflected in the development of operating cash flow, which fell to EUR -2.9 million in the reporting period (9M 2022: EUR -7.6 million). This does not include the bonus payments to employees from IPO-related stock programs in the amount of EUR 1.9 million for the full year 2023, nor the net proceeds of the capital increase carried out in June 2023 of EUR 6.8 million. Including these effects, cash and cash equivalents amounted to EUR 14.7 million as of September 30, 2023 (December 31, 2022: EUR 12.7 million).

Outlook for 2023 adjusted on October 30

Based on preliminary results after nine months, the Executive Board lowered its forecast for the current financial year 2023 on October 30: ARR is now expected to range between EUR 40.0 million and EUR 42.0 million. At the same time, the adjusted operating result (adj. EBITDA) is expected to improve to between EUR -5.5 million and EUR -4.5 million. Cash and cash equivalents at the end of 2023 are expected to be between EUR 11.0 million and EUR 13.0 million.

Key data 9M 2023:

* EBITDA is adjusted for effects from stock appreciation rights granted to the Executive Board and employees prior to the IPO in 2020 and for the costs related to the capital increase in June 2023.

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