Annual Report 2020: For DecideAct, 2020 was all about preparing for future growth, and the company is on track
DecideAct’s Annual Report for the period January 1 to December 31, 2020 was approved by the Board of Directors today. The DecideAct Annual Report 2020 is attached to this release and can be read here: https://www.decideact.net/download/1710/
DecideAct A/S [ACT]
Company Announcement No. 7-2021:
NASDAQ FIRST NORTH GROWTH MARKET, COPENHAGEN
28 March 2021
For DecideAct, 2020 was all about transformation, particularly in these three areas:
- Launching a new, even more robust version of the product
- Preparing the organization to support future growth and scaling
- Initiating marketing and sales activities in Denmark, Canada and France
- Securing funding/financing to realize the growth strategy.
In 2020, DecideAct prepared the organization to support future growth and secured financing to realize the growth strategy. A new version of the product and a new mobile app was launched. And the company completed two funding rounds in preparation for a very successful listing on Nasdaq First North in December 2020.
The IPO was a critical factor in securing funds to grow sales and expand the organization to handle them. It gave DecideAct the needed financial resources of 18,5 million DKK to pursue its vision.
- While the proceeds from the IPO are expected to provide sufficient liquidity to execute on DecideAct’s growth strategy and by year-end 2020, the company had a cash reserve of 15,514,930 DKK and a total asset of 29,705,229 DKK.
- In 2020, DecideAct invested 2,995,753 DKK to further develop the platform.
- The year-end result is a loss of 6,620,645 DKK after tax—an expected result in the light of heavy investments in entering the Danish market, optimizing the organization and listing at Nasdaq First North.
- In the second half of 2020, DecideAct initiated a number of marketing activities to be intensified throughout Q1. The product has been taken to the next level and an unparalleled, international sales force is developed.
- These efforts are already paying off. In the first quarter of 2021, several new contracts and partner agreements in Denmark, France and Iceland has been signed.
- DecideAct has entered new industries and grown the pipeline significantly.
- Marketing and sales activities in France and Canada are initiated.
- With the contracts already closed and those that are in prospect, DecideAct will be halfway to the 2021 target by the middle of Q2.
CEO and Co-founder of DecideAct, Flemming Videriksen states: “We see every reason for optimism. DecideAct is on track to reach the ARR of 9.5 million DKK by the end of 2021.
This press release constitutes inside information that DecideAct A/S is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out below, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.
CEO, Flemming Videriksen
+ 45 78756550
Østre Kajgade 3, 3730 Nexø, Denmark
Keswick Global AG
+ 43 1 740 408045