Penneo achieves 23% year-on-year ARR growth in Q1 2024
Company Announcement No. 14-2024Copenhagen, 23 May 2024Financial report for the period 1 January 2024 - 31 March 2024Q1 2024 performance highlightsStrong new business performance and continued uplift from existing customers due to increased engagement, though negatively impacted by temporary downgrades, churn, and adverse currency fluctuations. · ARR increased by 2.0M DKK compared to 3.3M DKK in Q1-2023 · ARR increase from Newbiz amounted to 3.5M DKK compared to 2.0M DKK in Q1-2023 · ARR increase from uplift amounted to 0.0M DKK compared to 2.0M DKK in Q1-2023 · ARR