Penneo achieves 27% year-on-year ARR growth in Q1-2023
Company Announcement No. 22-2023Copenhagen, 16 May 2023Quarterly financial report for the period 1 January 2023 - 31 March 2023Q1-2023 performance highlights · ARR increased by 3.3M DKK to 74.2M DKK in Q1-2023, corresponding to 27% year-on-year (YoY) growth at the end of the quarter · ARR increase from Newbizz amounted to 2.0M DKK compared to 1.9M DKK in Q1-2022 · ARR increase from uplift amounted to 2.0M DKK compared to 1.6M DKK in Q1-2022 · ARR lost to churn amounted to 0.6M DKK compared to 0.4M DKK in Q1-2022 · ARR from foreign markets increased by 0.9M DKK compared