Penneo accelerates ARR growth rate from 40% in 2019 to 48% in 2020 and reaches 37M DKK ARR
Company Announcement No. 7-2021Copenhagen, 25 March 2021 Financial report for the period 1 January 2020 - 31 December 2020 Highlights · Annual Recurring Revenue (ARR) grew 48% in 2020 - from 25M DKK end of 2019 to 37M DKK end of 2020. The ARR growth rate in 2019 was 40% · Penneo increased average ARR per new customer by 67% in 2020 compared to 2019 · Penneo achieved 21% net annual growth from existing customers in 2020 compared to 12% net annual growth in 2019 Guidance In 2021, Penneo expects continued growth in ARR · For the first half-year of 2021, Penneo