Exasol publishes half-year report and confirms preliminary figures

Exasol publishes half-year report and confirms preliminary figures

- ARR increases by 11.8% to EUR 39.7 million year-over-year (June 30, 2023: EUR 35.5 million)
- Group revenue in the first half of 2024 up 9.3% year-on-year at EUR 19.4 million (H1 2023: EUR 17.8 million)
- Operating result (EBITDA) improves to EUR 0.7 million in H1 2024 (H1 2023: EUR -3.4 million*)
- Cash and cash equivalents of EUR 19.7 million as of June 30, 2024 (December 31, 2023: EUR 13.3 million)
- Outlook for 2024 confirmed

Nuremberg, August 14, 2024: Die Exasol AG, a global technology company and provider of a high-performance analytics database, has confirmed the preliminary figures from the beginning of August in the half-year report 2024 presented today. Annualized recurring revenue (ARR) increased by 11.8% to EUR 39.7 million (June 30, 2023: EUR 35.5 million). Gross new business with new and existing customers amounted to EUR 2.3 million in the first half of the year, which represents a slight increase compared to the same period of the previous year (H1 2023: EUR 2.2 million). The acquisition of new customers also developed positively, increasing to nine (H1 2023: six). Due to the expected increase in the churn rate, particularly as a result of the loss of a major customer in the EMEA region, the ARR temporarily decreased by EUR -1.1 million in the first half of the year compared to the figure as of December 31, 2023. ARR is expected to rise again in the second half of 2024 due to a seasonal increase in new business with existing customers as well as a higher level of new customer acquisition.

Revenue increased by 9.3% to EUR 19.4 million in the first half of 2024 (H1 2023: EUR 17.4 million). At the same time, the share of recurring revenue in total revenue increased to 99.8% (H1 2023: 95.5%). In addition, as previously reported, the company achieved significant earnings growth in the second quarter of 2024, confirming the trend from the first quarter of the year. The operating profit (EBITDA) thus amounted to EUR 0.7 million in the first half of 2024 (H1 2023: EUR -3.4 million*).

The increase in profitability visible in the operating result is also reflected in the development of operating cash flow, which rose significantly to EUR 6.3 million in the reporting period (H1 2023: EUR -1.0 million). Accordingly, cash and cash equivalents amounted to EUR 19.7 million as of June 30, 2024 (December 31, 2023: EUR 13.3 million).

Outlook 2024 unchanged

The outlook for the 2024 financial year remains unchanged: Exasol expects ARR to increase by up to 10% year-on-year in the 2024 financial year. In the second half of 2024, the growth initiatives launched at the end of 2023 are expected to take effect and lead to a return to positive ARR development.

Exasol continues to expect consolidated revenue to increase by 10-15% with a positive operating result (EBITDA) for the 2024 financial year.

Cash and cash equivalents are expected to remain stable at over EUR 10 million at the end of 2024 compared to the previous year.

The full report for the first half of 2024 is now available on the Exasol AG homepage in the Investor Relations section under "Publications".
 

Key figures:

* EBITDA is adjusted for costs related to the capital increase in June 2023 in the amount of EUR 0.3 million.

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