Impero releases Annual Report 2021: Realizes DKK 18.3M in Annual Recurring Revenue corresponding to a 45% growth in accordance with guidance
Company Announcement No. 2-2022
Copenhagen, March 22, 2022
Annual Report for the period January 1, 2021 to December 31, 2021
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Impero reports an Annual Recurring Revenue (ARR) growth of 45% corresponding to DKK 18.3M which is in line with guidance and as presented in the IPO document.
Financial highlights for 2021
- ARR increased by 45% to DKK 18.3M at the end of 2021
- Net revenue increased to DKK 15.1M, corresponding to a growth of 53% compared to 2020
- Net Retention Rate[1] (NRR) increased to 114% compared to 107% in 2020
- Uplift for existing customers increased to 20% compared to 14% in 2020
- Average ARR per customer (ARPA) increased to DKK 160T compared to DKK 136T in 2020
- EBITDA amounted to DKK -14.8M, which is in line with the communicated strategy
Development of the business in 2021
Impero welcomed 33 new customers in 2021. Among these were large, global companies such as Siemens Energy, thyssenkrupp, Bertelsmann, and a major international bank. Furthermore, a global German automobile manufacturer implemented Impero in its finance department - an example of increased interest in the Impero platform from non-tax domains in the German market.
In the DACH region (Germany, Austria, Switzerland), 17 new customers were onboarded during 2021, and Impero invested in long-term growth by opening the first regional sales office in Düsseldorf, Germany. Establishing a regional presence is of strategic importance to be able to serve new and existing customers in the region, as well as cultivate and develop partnerships. The domestic market also developed positively with 14 new Danish customers choosing Impero's platform to handle and simplify compliance processes.
In 2021, Impero formalized two new partnerships with KPMG LLP (Canada) and KPMG Meijburg & Co (Netherlands). Impero's partner program supports current and new partners in the important process of developing strategic market opportunities that combine partners' transformation projects with the implementation of Impero's software.
Continuation of the strong momentum in 2022
Rikke Skov, CEO of Impero, says: "I am very pleased that Impero delivered strong growth and successful execution of our strategic goals in 2021. We delivered what we promised in connection with our listing: Strong ARR growth, continuous development of our platform, increased user engagement from existing customers, as well as expanding our international customer base.
We will continue to strengthen last year's momentum in our quest to advance a global trust and transparency agenda for the benefit of both people and organizations. Together with our strong team, I look forward to continuing driving our growth strategy.”
Guidance for 2022
In 2022, Impero expects to continue to deliver ARR growth in line with the goals communicated in connection with the IPO. Impero thus expects ARR in the range of DKK 26-29M at the end of 2022.
Furthermore, Impero will continue to invest in scaling the organization to ensure long-term ARR growth. We thus expect to realize an EBITDA for 2022 in the range of DKK -22 to -18M.
The expectations for the above are based on assumptions that the company can retain and attract partners as well as commercial and technical profiles to expand and develop the platform. Furthermore, the timing of onboarding new customers is significant in terms of guidance.
Impero follows the geopolitical situation in Europe. At present, Impero is not directly involved in activities in Ukraine or Russia, but as an international company with significant European activities, an escalation of the war in Ukraine may have a negative effect on Impero's activities.
Presentation
The Annual Report 2021 will be presented on March 23, 2022 at 12:00 CET.
Register for the event via https://hcandersencapital643.clickmeeting.com/impero-praesentation-af-arsrapporten-2021/register
Please refer to the Annual Report 2021 in the attachment for an elaboration of the above.
For further information, please contact:
Impero
Rikke Skov, CEO
Mobile: (+45) 25 88 41 02
E-mail: rss@impero.com
Morten Lehmann Nielsen, CFO
Mobil: (+45) 51 17 67 80
E-mail: mln@impero.com
Certified Adviser
Grant Thornton
Jesper Skaarup Vestergaard
Mobile: (+45) 31 79 90 00
ABOUT IMPERO
Impero A/S is a Danish Software-as-a-Service (SaaS) company that provides a compliance management platform. The Impero platform enables companies to easily manage compliance through automation of risk and control management, documentation, and reporting. Impero empowers companies to become more compliant in a scalable, digital, intuitive, and – most importantly – easy way.
For more information about Impero, please visit http://impero.com/investors.
[1] NRR is calculated as the sum of ARR at the beginning of 2021, churn and uplift from existing customers during 2021 divided by ARR at the beginning of 2021.
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