Nexcom delivers a good start of the year with a 35% YoY Growth for Q1 and expect to reach 60% YoY growth for full year
FINANCIAL REPORT Q1 2021 [January 1st - March 31st, 2021]
The report has not been audited.
HIGHLIGHTS
- Q1 2021 revenue up 35% to TDKK 2.619 (Q1 2020 at TDKK 1.927) which was according to plan
- IPO on Nasdaq First North Growth Market successfully completed on 29th January 2021 where Nexcom achieved a 115% oversubscription
- Nexcom enters into a 3-year agreement with an existing client for the delivery of an AI / Machine Learning solution
- Nexcom's quality and process optimization platform, RevealCX, achieves COPC Accredited Technology Provider status recognized by global Fortune500 companies as “Best Practice”, and enhancing access to this segment
- First phase of recruitment of the team in the US completed, and the team has started to build a promising pipeline
- Sales and earnings, as well as existing pipeline is in accordance with what was communicated in the Company Description published prior to the IPO
“I am pleased and proud of the progression the team has demonstrated in Q1. Not only have we grown in numbers as an organisation, but the revenue growth that we have delivered shows us to be on track towards our 2021 objectives. With a new sales team in the US having built a strong pipeline, we remain confident that we will meet our expectations” says Rolf Adamson, CEO of Nexcom.
MANAGEMENT REVIEW
Nexcom expects to continue the growth journey and expects revenue growth in 2021 of around 60% as previously announced. The strong pipeline supports this outlook. The company has completed the first phase in expanding strongly in the sales organizations in North America and Europe. Annual Revenue is expected to be between DKK 15m and DKK 17.5m as previously announced and EBITDA is expected to be between DKK -7.3m and DKK -8.9m.
The proceeds from the IPO will be used to support the organizational expansion necessary to fulfill the international growth plan towards a turnover of between DKK 37m and DKK 44m in the year 2023.
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.
This notice contains inside information that Nexcom is required to publish under the EU Market Abuse Regulation (MAR).
Certified advisor
Kapital Partner ApS
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CEO, Rolf Gordon Adamson, mobile: +45 2610 0714, e-mail: rga@nexcom.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.