Nexcom delivers 72% revenue growth in Q2 and 50% in H1 2021
FINANCIAL REPORT H1 2021 [January 1st - June 30th, 2021]
The report has not been audited.
- Q2 2021 revenue grew to TDKK 2,595 (Q2 2020 at TDKK 1,510), equivalent of 72% overall growth in revenue
- H1 revenue grew to TDKK 5,214 (H1 2020 at TDKK 3,484), equivalent of 50% overall growth in revenue
- H1 included several major activities for Nexcom:
- Nexcom was listed on Jan. 29th, 2021
- A global contract with Telenor Group
- An agreement on co-development of our Next-Gen AI solution for Quality Monitoring
- Establishing sales teams in both North America and EMEA
- Accreditation of the RevealCX platform to the international standard, COPC
- Deployment of significant new product features to benefit existing customers
- The development of our AI solution for Quality Monitoring is progressing well and on schedule
- Nexcom has initiated a partnership with Gartner, regarding areas within Go to Market and Sales Execution strategy
- Recruitment activities have been an overall focus during H1, it has required more resources than planned to recruit the right profiles, especially for the sales team in Europe where recruitment was not completed until late Q2
- Nexcom has changed Certified Advisor to Norden CEF in Q2 2021
As part of a H1 with many activities, Nexcom has grown in both revenue and size. During H1 has grown to 23 employees, covering 10 nationalities underlining the global nature of the business.
Although recruitment has been negatively affected by COVID-19, we have managed to recruit the people we wanted for our positions and are now ready to take the business to the next stage.
“We are pleased with our achievements during the past months” says Rolf Adamson, CEO and adds, “Growing at that level, delivering new features as well as scaling up the business at the same time is a significant task that the team has successfully managed through the first half of the year. Now it is heads down, pick up the pace and continue to grow”
The other main product of Nexcom, RevealCX, has as the only quality platform achieved global accreditation from COPC, the creators of the COPC Best Practices Standard, as the only quality platform that supports and enhances organisations ability to work in accordance with best practices in the CX industry. Our newest release in RevealCX enables customers to identify generic issues across multiple staff members and thereby help them receive training or coaching to improve their performance.
Nexcom expects to continue its path to continued growth however due to the impact COVID-19 has had on recruiting sales staff in EMEA, changes its projection for the annual revenue for 2021 to end between DKK 14m and DKK 15.2m, which is a growth rate equivalent between 72% to 87% compared to 2020 actuals, including the acquisition of RevealCX Inc. from Sept. 2020. Management also projects a change in EBITDA that is expected to end between DKK -8.3m and DKK -9.9m, primarily because of adding recruitment agencies in all geographies as an investment on the quality of recruitment and ensuring the onboarding of staff who meet our criteria.
Overall expectations of the 3-year plan and outlook for Nexcom remain unchanged, part of that is due to the new collaboration with Gartner, who will be consulting on executing our Go-to-Market and Sales strategy.
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.
This notice contains inside information that Nexcom is required to publish under the EU Market Abuse Regulation (MAR).
For more information and/or to arrange an interview with CEO Rolf Adamson, please contact Gerdur Dora Adalsteinsdottir, Communications Tlf.: +45 4576 4820.
Norden CEF ApS
Tlf. +45 20 72 02 00
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.