HC Andersen Capital Events 27/03: Meet the top management in MapsPeople

HC Andersen Capital is hosting a digital event where you can meet and ask questions directly to the top management. It is free for all to attend.

MapsPeople - Presentation of annual report 2022
MapsPeople announced its annual report for 2022 with key results in line with its recent update and outlook. MapsPeople’s cARR grew by 71% YoY to DKK 70.1m by the end of 2022 (the MapsIndoors segment grew by 94%) with 78% of the cARR from its partner channel.

Looking at other key financials for 2022, ARR grew to DKK 33.6m (27% growth), revenue grew to DKK 29.1m (4% growth), and EBITDA declined to DKK -56.9m (DKK -34.7m in 2021)  in line with its latest outlook.  

With a new guidance methodology announced in January 2023, MapsPeople provides further transparency of differences between cARR, ARR, and recognized revenue. As outlined before, MapsPeople also comments that market conditions have changed which has led to longer decision-making processes and longer integration time of new partners than originally expected.

The annual report also unfolds key SaaS  metrics in 2022 such as net retention rate, which was 105% for MapsIndoors based on cARR. The combined churn (and for MapsIndoors) was 9% in 2022, including one churn from a US retail partner (accounted for 12% of the total value of terminated subscriptions).

MapsPeople closed 2022 with an order book of more than DKK 30m, which is expected to be delivered in 2023 and thus driving much of the growth and guidance for 2023. As announced earlier,  MapsPeople’s 2023 guidance is cARR in the range of DKK 105-115m (50-64% growth), ARR in the range of DKK 77-87m (129-159%), revenue in the range of DKK 52-62m (79-113%), and EBITDA between DKK -55m and -45m.

With the capital increase in February 2023 (new shares of DKK 10m in a private placement and DKK 10m in a new loan agreement) as well as cost adjustments, MapsPeople projects to be fully funded until reaching positive cash flows from operations towards the end of 2023.

MapsPeople’s CEO Morten Brøgger and Chairman Lars H. Brammer will present the results for 2022 and expectations for 2023 at a virtual event where you can ask your questions to the management.

Disclaimer: HC Andersen Capital receives payment from MapsPeople for a Corporate Visibility/Digital IR subscription agreement. /Kasper Lihn 14:50, 24 March 2023.

Monday 27th of March, 09:00 - 09:30

Sign up via.  link


Disclaimer: HC Andersen Capital receives payment from the companies mentioned for a DigitalIR/Corporate Visibility agreement. The content is not buy or sell recommendations. 

Mie Halse
Head of Digital and Events
mie@hcandersencapital.dk
+45 28746640
 

HC Andersen Capital digitizes the relationship between listed companies and investors. We work long-term for companies that want more visibility in the market. #DemocraticIR - HC Andersen Capital works to democratize access to the financial market.