Nexcom delivers 39% growth YTD and maintains guidance for the full year
FINANCIAL REPORT Q3 2021 [July 1st – September 30th, 2021]
The report has not been audited.
HIGHLIGHTS
- Q3 included several major activities for Nexcom:
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- Global contract renewal with Groupon which includes activities in the US, EMEA and in Asia
- Contract renewal with LASH (part of AmerisourceBergen)
- Recruitment of our EMEA Sales Team completed. The team is fully onboarded and ready to start prospecting
- A major milestone with our AI project was accomplished, as the commercial product development is completed, and we can initiate sales efforts in the US (Q4-21) and in EMEA (Q1-22):
- Updated brand identity launched with a new global website - www.nexcomglobal.com, new sales & marketing collateral, white papers etc. to support sales efforts
- Revenue in Q3-21 grew as forecasted to TDKK 2,511 (Q3-20 at TDKK 2,065), equivalent of 22% growth YTY
- Revenue YTD grew to TDKK 7,725 (Q1-Q3 2020 at TDKK 5,549), equivalent of 39% growth YTY
- Liquidity strengthened by taking a non-convertible loan of MDKK 7 due to higher working capital than forecasted because of a higher accounts receivable and accruals, and lower accounts payables than expected.
MANAGEMENT REMARKS
Nexcom has continued strong revenue growth in Q3 where many activities have been launched. Although recruitment has been negatively affected by COVID-19, we have managed to recruit the people required for our positions and are now ready to take the business to the next stage.
“We are pleased with our achievements within developing AI features during the past months” says Rolf Adamson, CEO and adds, “Adding cutting edge technology to our product portfolio is an important aspect of our growth, and we have successfully deployed our algorithms in our Quality solution, so it is now a fully deployable business intelligence platform. This is also why our existing customers choose to renew their contracts with us - our innovative approach represents the future of where CX software is heading.”
GUIDANCE FOR 2022
Nexcom expects to continue its path to the projected growth with annual revenue for 2022 in the range MDKK 21-26 equivalent to a YTY growth range of 46-89%.
The delay in recruitment has impacted our traction in building our sales pipeline and resulted in an extended sales process as we are addressing the market after the period where potential customers have completed the budget process. In Q3 we have had an intensive onboarding and training of the EMEA sales team as well as adding AI features to our product, RevealCX, making the offering more broadly appealing. The rest of Q4 and Q1 is now fully dedicated supporting the Sales teams activities in building new sales pipeline and progressing existing opportunities.
Disclaimer
This report contains forward-looking statements based on the 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.
Contact information:
For more information and/or to arrange an interview with CEO Rolf Adamson, please contact Gerdur Dora Adalsteinsdottir, Communications Tlf.: +45 4576 4820.
Certified advisor:
Norden CEF ApS
John Norden
Tlf. +45 20 72 02 00
www.nordencef.dk
Nexcom is a Danish-based SaaS company with a compelling purpose of enabling a hyper convenient customer experience for all, by using software robotics and artificial intelligence, that Nexcom have developed during the last 20 years working for agenda-setting Fortune 500 clients around the world.