Penneo realizes 28% ARR growth rate in 2022
Company Announcement No. 03-2023 Copenhagen, 28 February 2023 Penneo releases financial report for the period 1 January 2022 - 31 December 20222022 Performance highlights · ARR amounted to 71.0M DKK at the end of 2022 compared to 55.5M DKK at the end of 2021 which corresponds to a YoY growth rate of 28% · YoY ARR newbiz amounted to 15% · YoY ARR uplift amounted to 16% · YoY ARR churn rate amounted to 4% · YoY net ARR retention rate amounted to 113% · ARR from foreign markets amounted to 19.6M DKK at the end of 2022 compared to 14.4M DKK at the end of 2021 (36% YoY