CORRECTION - FINANCIAL REPORT Q1 - 13% revenue growth
FINANCIAL REPORT Q1 2024 [January 1st - March 31st, 2024]
The report has not been audited.
Nexcom Starts the year with a 13% growth in revenue
HIGHLIGHTS
- Q1 2024 revenue showed a 13% growth compared with 2023 at DKK 1.718k, (Q1 2023 at DKK 1.513k). This is an expected increase compared to Q1 2023 revenue as new contracts from Q4 2023 are beginning to contribute to the increase in revenue.
- Signed a new multi-million agreement with the leading IT company for Taxi solution in the Nordic, Finn Frogne A/S, delivering the Voice Integrated Booking Engine, VIBE to handle taxi bookings across the Nordic and Germany. Revenue expected to impact in H2.
- The annual report for 2023 was released, showing 45% growth in revenue and a significant improvement in EBIDTA at MDKK -3,9
- Annual shareholder meeting held with new appointments to the board. Torben Haase, (Chair), Peter Ott and Thomas Krogh Skou (members).
- First new customers signed on the new and significantly improved Prodictation platform. An AI powered dictation and transcription platform that helps professionals keep accurate records and journals through the headset of their smart phone. A convenient and cost-efficient solution for many professionals with a need to use both hands during treatments.
“I am pleased with the continued progression the team has demonstrated in Q1, which has always been our quiet quarter. Delivering towards our contracts is crucial for our future, and with an increase in interest in AI within CX is showing that we are in a growing market.” says Rolf Adamson, CEO of Nexcom.
MANAGEMENT COMMENTS
The company expects to carry out a capital increase in Q2 2022 to support the continued operation and expansion in line with the planned growth track, and furthermore to reduce the company’s debt profile.
Nexcom has maintained its customer base yet another year, with a 10 year average tenure and has had no churn in Q1 2022, however 1 contract will decline in volume moving forward reducing the annualized revenue of this contract by DKK 0.4k.
Nexcom is maintaining the previously communicated growth expectations at for the year, as well as the projected positive result. A strong pipeline of new prospective customers, as well as the upsell potential for the AI product to the installed base, supports this growth journey.
Disclaimer
This report contains forward-looking statements based on management's current expectations. All statements about the future are subject to inherent risks and uncertainties, and many factors can lead to actual results and developments that differ materially from those expressed or implied in such statements.
FURTHER INFORMATION
Rolf Adamson | CEO
E-mail: press@nexcomglobal.com
COMPANY CERTIFIED ADVISOR
Nexcom A/S Kapital Partner A/S
Toldbodgade 59B, K9 Jernbanegade 4
1263 Copenhagen K 1608 Copenhagen V
Tlf. +45 4576 4820 Tlf. + 45 8988 7846
www.nexcomglobal.com www.kapitalpartner.dk
INCOME STATEMENT Q1 2024 [January 1st - March 31st, 2024]
The report has not been audited.
| TDKK | Q1 2024 | Q1 2023 |
| Revenue | 1,719 | 1,513 |
| TOTAL REVENUE | 1,719 | 1,513 |
| Personnel | -2,269 | -2,324 |
| Other external costs | -1,481 | -1,347 |
| EBITDA | -2,031 | -2,158 |
| Depreciation | -947 | -943 |
| EBIT | -2,978 | -3,101 |
| Financial expenses | 349 | -681 |
| PROFIT/LOSS BEFORE TAX | -2,629 | -3,782 |
| Tax | 0 | -15 |
| PROFIT/LOSS AFTER TAX | -2,629 | -3,797 |
| Number of employees | 13 |
| Outstanding shares | 18,805,325 |
| Earnings per share (DKK) | -0,14 |
BALANCE SHEET SUMMARY Q1 2024 [March 31st, 2024]
The report has not been audited.
| TDKK | Q1-2024 | Q1-2023 |
| ASSETS | ||
| Intangible assets | 14,379 | 16,881 |
| Fixed assets | 32 | 77 |
| Deposits | 49 | 53 |
| TOTAL NON-CURRENT ASSETS | 14,460 | 17,011 |
| TOTAL CURRENT ASSETS | 6,977 | 1,924 |
| TOTAL ASSETS | 21,437 | 18,935 |
| TDKK | Q1-2024 | Q1-2023 |
| LIABILITIES | ||
| Share capital | 9,402 | 7,512 |
| Capital increase | 0 | 1,915 |
| Foreign currency translation reserve | -414 | -557 |
| Retained earnings | -5,585 | -8,710 |
| EQUITY | 3,403 | 160 |
| Long-term liabilities | 4,069 | 9,065 |
| Short-term liabilities | 1,529 | 3,792 |
| Other debt | 12,436 | 5,918 |
| LIABILITIES | 18,034 | 18,775 |
| TOTAL EQUITY AND LIABILITIES | 21,437 | 18,935 |
- The company's total assets amount to DKK 21,437k as per March 31st, 2024.
EQUITY STATEMENT Q1 2024 [January 1st – March 31st, 2024]
The report has not been audited.
| TDKK | Share Capital | Share premium | Foreign currency translation reserve | Retained earnings | Equity |
| Equity January 1,2024 | 9,402 | - | -57 | -2,956 | 6,389 |
| Capital increase | - | - | - | - | - |
| Transfer to reserves | - | - | - | - | - |
| Exchange rate adjustment | - | - | -357 | - | -357 |
| Profit/loss for the period | - | - | - | -2,629 | -2,629 |
| EQUITY MARCH 31, 2024 | 9,402 | - | -414 | -5,585 | 3,403 |
- The company’s equity totals DKK 3,403k as per March 31st, 2024.
Copenhagen April 18th, 2024
MANAGEMENT
Rolf Adamson
CEO
BOARD OF DIRECTORS
Torben Haase Charlotte Enlund Peter Ott Thomas Krogh Skou Christian Hein Nielsen
Chairman
Contact information:
For more information and/or to arrange an interview with CEO Rolf Adamson, please contact Gerdur Dora Adalsteinsdottir, Communications email: press@nexcomglobal.com.
Certified advisor:
Kapital Partner A/S
Ewaldsgade 7-9
200 København N.
Tlf. + 45 8988 7846
www.kapitalpartner.dk
Nexcom is a Danish-based SaaS company with a compelling purpose of helping companies of all shapes and sizes deliver consistent, high-standard service experiences to their customers. We design and deliver big data-driven, AI-powered software platforms that enable companies to automate routine tasks, monitor agent and system performance, and become more time-efficient. We help improve productivity, gain more operational knowledge, make informed decisions, and ultimately deliver better service.
Nexcom: Better Customer Service, Less Effort