Penneo realises 43% year-on-year ARR growth rate at the end of 2022-Q1
Company Announcement No. 17-2022Copenhagen, 24 May 2022Financial report for the period 1 January 2022 - 31 March 2022 Key features 2022-Q1 · ARR increased by 3.0 M to 58.5M in 2022-Q1 corresponding to 43% year-on-year (YoY) growth at the end of 2022-Q1 · Net ARR retention rate amounted to 120% · ARR churn rate amounted to 3% · ARR uplift amounted to 23% · ARR growth from new customers decreased by 25% in 2022-Q1 compared to 2021-Q1 · Average Revenue Per Account (ARPA) increased by 19% in 2022-Q1 compared to 2021-Q1 · EBITDA amounted to negative 6M DKK as a